Abolition of cash and streamlining of cash on delivery
Meopta has found a solution for its cessationists
Take a look at a customer story from Meopta Optics and find out how travel orders can be solved.
About the company
The multinational company Meopta – Optika, s.r.o., whose history dates back to 1933, is engaged in the development and production of optical equipment for industry, health, sports and even the army. Their businesses are located both in the Czech Republic and in Florida, USA.
Headquarters
Kabelíkova 1
750 02 Přerov
Company size
1800 employees
Industries
Technology
The main difficulties
- A large number of cesspools
- Cash on the go
- Opacity in company expenses
Solution
- Digitisation of the cessationists
- Electronic transmission of billing documents
- Buying Fidoo cards
Main benefits
- Digitisation and process automation
- Speeding up the writing of assignment notes
- Simplifying the distribution of funds via Fidoo cards
Streamlining of cash receipts, elimination of cash and more clarity in the company
Meopta – optika, s.r.o. is a multinational company from Přerov, which is at the forefront in the development, production and assembly of optical products in the semiconductor industry, healthcare and sports. Due to their complex activities, their work also includes a lot of travel. This brings difficulties with the writing of assignment slips and with their processing.
Due to the fact that not only the sales or marketing team, but also buyers, developers and engineers travel within the company. Meopta also has its own dispatching centre and car transport. This generates a lot of paperwork and cash disbursements for travel.
"From my position, I was most annoyed by the large number of paper forms roaming around the company, and the large number of cash transactions that are associated with small business expenses."
The reverends roamed the company
According to Tomáš Vagner, Director of Accounting , Meopta – Optic was most concerned about the creation, approval and overall handling of travel reports, which wandered around the company and did not get to their places on time. This generated a large number of cash transactions and slowed down the accountants in their work.
Reunion with Fidoo
Unfortunately, the first meeting with the Fidoo sales people was unsuccessful as we did not offer the company a solution to their problem. After a couple of years, our companies were connected again and this time it worked out much better. Tomáš Vágner was very happy for the new comprehensive solution to their problem, which consisted in the creation and approval of receipts, and the overall digitalization, with Fidoo cards being a bonus that helped to gradually eliminate cash registers.
Current work with Fidoo
The company started to use Fidoo in January 2022 and in half a year has processed less than 300 receipts and almost 1,000 employee expenses. Unlike in previous years, everything is done automatically. The accountant does not have to calculate anything on the calculators and at the end of the month the transactions are imported in bulk into the company ERP system. In addition, all travel allowances are easily reimbursed in wages in this form.
Transparency and automation
Fidoo’s long-term contribution to the company is considerable. Users no longer have to visit an accountant and everything is handled digitally remotely. The company has a clear workflow and knows where their assignments are. In addition, it got rid of cash advances for financial travel, thus eliminating cash transactions altogether.
"No more papers, no more cash!"
