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INSET s.r.o. reduced the volume of cash transactions by 70%

Cash minimisation

Úvod › Inspire yourself › Industry

INSET s.r.o. reduced the volume of cash transactions by 70%

Check out this customer story from INSET, a company that has managed to significantly reduce cash transactions.

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About the company

INSET s.r.o. has been a reliable company since 1991.
and operational partner of investors, project organisations
and building contractors.

Headquarters

Luxembourg 1170/7
130 00 Prague 3

Company size

174 employees

Industries

  • Preparation, monitoring and diagnostics of buildings
  • Geology, geophysics, geotechnics

The main difficulties

  • Lengthy and complicated agenda around cash expenses
  • Paperwork

Solution

  • Prepaid cards for employees
  • Electronic transmission of billing documents
  • Digital archiving of receipts

Main benefits

  • Digitisation and process automation
  • Elimination of paperwork
  • Simplify the distribution of documents from employees
  • Interfacing with payroll and accounting system

Employees work on orders all over the Czech Republic

Since INSET Ltd. employees work on jobs all over the country, they often need to purchase materials exactly where the job is taking place. Therefore, the company was looking for the best way to handle the transfer of funds so that employees would not have to take long-term advances or prepayments before each trip.

In addition, employees had to make sure they had the cash they needed, the biggest burden was keeping receipts, getting the directors to sign receipts and then getting the paperwork to the accounts department.

INSET s.r.o. learned about Fidoo from a banker from Komerční banka, who knew that we were trying to automate the processes so that they would not take so much work.

"We dealt with the signing of receipts and with the whole agenda around there is quite a lot of running around and a lot of activities that are actually being dealt with in duplicate."

Jana Baxantová, Head of Finance, INSET s.r.o.

Fidoo cards for employees

Overall, INSET s.r.o. managed to reduce the volume of cash transactions by 70% with Fidoo cards. In one of the production divisions, cash transactions were kept to a minimum. Fidoo cards have also proved useful forbusiness trips abroad.

It also saves a lot of work that they can set limits for card users and the cards are automatically recharged. This prevents the employee from being left out of pocket.

The company also sees the fact that they can now conveniently shop online and purchase pay directly by card. Previously, they had to order COD or pay by bank transfer.

Automation of processes in the company

Thanks to Fidoo cards, the whole process around the transfer of funds in the company has been greatly simplified. It saves time for both card users and the accounting department.

According to Jana Baxantová, CFO of INSET s.r.o., it is generally advisable to pause over certain processes, look at them with a certain perspective, to analyze what activities they entail and whether there are any duplications that could be handled differently.

Fidoo from a user's perspective

Dominika Zajíčková, an assistant in one of the divisions, sums up the use of Fidoo cards as a great streamlining of work around expenses.

"The process is very simplified, I have it in a few clicks and then basically the data entered goes straight to the accounting department. I can just throw the receipt in the trash and I don't have to worry about it anymore."

Dominika Zajíčková, asistentka divize, INSET s.r.o.

Fields of activity INSET s.r.o.

  • Geotechnics and monitoring
  • Geological and geophysical survey
  • Hydrogeology
  • Pyrotechnic survey
  • Diagnostics and monitoring of building structures
  • Environmental diagnostics and monitoring
  • Geodetic work
  • Blasting service
  • Engineering activities

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Wienerberger has reduced the workload of its accounting department

Complete replacement of paper processes

Úvod › Inspire yourself › Industry

Wienerberger has reduced the workload of its accounting department

Take a look at a customer story from Wienerberger, which has made a significant difference to its accounts department.

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About the company

The Wienerberger Group is part of the multinational Wienerberger Ziegelindustrie AG, which is the world’s largest brick manufacturer and the leader in the production of baked roofing in Europe. The Group operates in more than 26 countries worldwide, including. in the UK, Austria, Germany, Czech Republic, Slovakia, Hungary, Poland, Belgium, France, Slovenia, Croatia, the Netherlands and Italy. In 1999, the company entered the US market with its brick products.

Headquarters

Plachého 388/28

370 01 České Budějovice

Company size

1500+ employees

Industries

Construction

The main difficulties

  • Processing and archiving of receipts and other papers
  • Cash transactions
  • Manual data transfer

Solution

  • Using Approval in the Application
  • Payment by Fidoo card
  • Connection to SAP

Main benefits

  • Cost savings
  • Fast billing
  • Automation as such

Many people, many papers

Wienerberger is one of the world’s largest manufacturers of masonry materials – mainly burnt bricks and tiles. As a large company, they have over 1500 employees and with that came a very demanding administration around processing employee expenses.

"I was bothered by the inflexibility, papers were constantly being sent somewhere, something was always being copied, something had to be stored somewhere. There are a lot of employees and therefore we have a lot of these materials and things. I think the whole paper agenda is ossified - and it doesn't belong in the 21st century. Centuries."

Jaroslav Hule, vedoucí účetního oddělení

Fidoo from cards to teller machines

“I joined the company at a time when we were already using the Fidoo system a bit, primarily to manage company expenses. Only managers had Fidoo cards as such,…” Mr. Hule confided. Over time, the company started to use all the features that Fidoo offers.

How does the company work today?

The vast majority of expenses and travel orders are now processed only electronically. Basically, no more paperwork needs to circulate through the company. As a result, expenditure has also fallen, e.g. to send the papers. Another advantage is the actual digitisation of the materials and the entire agenda.

"...if a colleague wants to have a home office, she doesn't need to have access to the papers she used to have to keep in her office. This way everything can be done comfortably from home."

Jaroslav Hule, vedoucí účetního oddělení

Accountants and trust to Fidoo

In the long term, Mr. Hule said, the feedback from staff and accounting colleagues has been overwhelmingly positive. Understandably, there were some “birth pangs” in implementing the overall system, as many people generally perceive change as something that is not quite ideal, but even this has been overcome fairly well.

"I certainly haven't encountered any negative reactions recently."

Jaroslav Hule, vedoucí účetního oddělení

What is the biggest benefit for Wienerberger?

“Primarily cost savings, I guess. Then, of course, the speed of processing and the overall automation as such is a big bonus,” says Mr Hule. Today, Wienerberger already has automatic data transfer between Fidoo and SAP, which allows, for example, a document that in some cases has several thousand lines to be conveniently transferred to the system in one operation and does not have to be entered manually as in the past.

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DEZA has streamlined the processing of its cessions

Digitisation of receipts and billing

Úvod › Inspire yourself › Industry

DEZA has streamlined the processing of its cessions

Take a look at this customer story from DEZA and find out how you can also deal with cessions.

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About the company

DEZA is a manufacturer of basic organic substances for further chemical use. With an annual processing capacity of 450,000 tonnes of coal tar and 160,000 tonnes of crude benzene, it is one of the world’s leading companies in the industry.

Headquarters

Masarykova 753

757 01 Valašské Meziříčí – Krásno nad Bečvou

Company size

1000-1200 employees

Industries

Chemical industry

The main difficulties

  • Approval of assignments
  • Expenditure on travel
  • Delayed delivery of receipts

Solution

  • Using Approval in the Application
  • Payment by Fidoo card
  • Digitalization of the bureaucracy around the cesspools

Main benefits

  • Fast approval
  • Fast billing
  • Quick submission of assignment slips

One road, many papers

DEZA is a processor of coal tar and crude benzene, two by-products of coking plants. The company employs over 1,000 workers, including those who travel for work many times and who have often been inconvenienced by paper red tape. From the paper application form to the final settlement of the business trip.

"Everything meant the circulation of many documents. There were also a lot of errors in the calculation of travel allowances, and the whole process was complicated and involved a lot of people."

Daniel Hruška, finanční ředitel

Honours and expenses

Nearly 200 employees travel for work each year, each working in a different part of the site. The mere transfer of such papers is a burden for the company. Mr Hruška himself admits that he does not like papers and the activities associated with them, such as archiving such documents. Often it happened that the receipt had to be filled in additionally and of course there were problems in assigning individual expenses to the given trips. The approval process itself was a struggle with time, because going on the road without an approved transfer certificate is a problem from a legal point of view. And the paper form is not flexible enough, because someone had to bring it in, get it approved, and a lot of time was wasted. Today, employees can conveniently apply for travel approval remotely.

Fidoo from cards to teller machines

“We started with Fidoo a long time ago when it still only provided credit cards, which were significantly cheaper for us than those from the bank.” Mr. Hruska confided. Over time, the company began to use the new features that Fidoo gradually released.

How does the company work today?

Today, it is very easy for employees to request approval for a business trip from home, and it is just as convenient for supervisors to approve the trip. With just a mobile phone and in seconds. At the same time, it is a big plus that when any expense is incurred on the road, it is immediately displayed in the app and does not need to be documented in the receipt. This way, the honours are created much faster and there are not the months-long delays that DEZA had in the past. It is also a great help for accountants, who are relieved of the work of completing expenses and lengthy checks, making the processing much faster and more pleasant.

"... I have been trying to push this solution for a long time and I am glad that we have all the overview and data in one place."

Daniel Hruška, Finanční ředitel

Accountants and trust to Fidoo

Accountants like paper and have not been very positive about the move to digitising employee expenses. At the same time, they like to triple check everything, and it took quite a long time to develop trust in Fidoo that its system gives reliable numbers and can be trusted. After a while, however, they found considerable benefit in it.

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Meopta has found a solution for its cessationists

Abolition of cash and streamlining of cash on delivery

Úvod › Inspire yourself › Industry

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.

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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."

Tomáš Vagner, Ředitel pro účetnictví, daně a treasury

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!"

Tomáš Vagner, Ředitel pro účetnictví, daně a treasury

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