ManoMano halves its invoice processing times with Yooz AI software
- Artificial Intelligence , Data , Accounting , BPM
- 20.03.2020 01:40 pm
ManoMano: the European leader in online DIY, home improvement and gardening
Created in 2013 by the two French nationals Christian Raisson and Philippe de Chanville, ManoMano currently employs over 420 people, has over 4 million products for sale, and 3.5 million active customers; with its platform present in France, Belgium, Spain, Italy, Germany and the United Kingdom. The market in which it operates is worth EUR 400 billion (BtoC and BtoB combined). ManoMano also recently entered the building supplies market with the launch of the ManoMano Pro platform, which aims to disrupt the purchasing process for artisans. To pursue this international conquest and succeed in its bid to revolutionise the DIY market, ManoMano is putting agility at the heart of its strategy.
The decision to work with Yooz as a digitisation partner: a natural response to ManoMano’s skyrocketing growth
It is against the backdrop of sensational growth and internationalisation that ManoMano elected to digitalize its supplier invoice process, in order to automate and optimise its accounting processes whilst also making them more reliable.
As Alexandra Chastand, Head of Finance, explains: “We were looking for a high-performance tool, capable of scaling and managing the Group's growing accounting flows, enabling us to automate manual data entry, make internal control more reliable, and reduce closing times: Yooz immediately showed its value by embracing our digital culture in the most natural way possible and by sharing the same understanding of the stakes involved as we experience extraordinary growth.”
Automation coupled with intuitiveness and functional depth, at the heart of NetSuite
Yooz was selected from among all the vendors consulted due to the performance of her (yes, Yooz is a girl!) self-learning automatic processing technology, which combines Artificial Intelligence and Deep Learning with the power of Big Data, so as to capitalise on the processing experience of over 1 million vendors and more than 250 million documents. Invoices are now collected by Yooz, which automatically records them, then generates the relevant entries and transmits them to the NetSuite software. Then, depending on the total due and the types of invoice received, various validation circuits are automatically launched in order to obtain the electronic payment voucher for the invoice from the parties involved.
Anaïs Renaudeau, Senior Accountant Manager, adds: “The Yooz solution has gone down very well with employees, who can now focus on tasks with higher added value. Its user-friendly interface, extremely high functional coverage, the tool’s simplicity and the speed with which it can be implemented have been key factors in the success of this change.”
One year on from the rollout of this solution, the Group has observed the following benefits:
▪ significant time savings in invoice entry, with invoice processing time halved
▪ homogenisation and improvements to process traceability
▪ the optimising of validation circuits
▪ documents retrieved instantaneously with just one click
▪ a more comfortable and agile way of working for the finance department