Cash minimisation
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.
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."
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."
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
