LW Cole, a leading UK appliances distributor, has chosen Yooz, the most powerful cloud provider of purchase-to-pay (P2P) software, to scale their business by automating  its Accounts Payable (AP) processes in the UK.

As a widely respected leader for first-class installation of appliances to the UK housing community, it was important for LW Cole to continue its exemplary service to its clients while scaling its business through consistent growth.

COVID-19: the proof-of-concept for cloud-based technology

When Covid-19 hit, the move away from physical workplaces highlighted the impracticality of continuing with manual accounts payable for LW Cole. “We quickly realized we needed an automated standardized approach to adapt to the current context and to urgently replace our manual paper-based invoice payment system,” said Mike Newton, Financial Director at LW Cole. “Our system was archaic, we were sending our vendor invoices by post leading to lost invoices and delayed payments.”

Up and running in 1 week

After scanning the market, LW Cole selected Yooz as the best solution to address these needs. Yooz is the smartest, simplest, and most powerful cloud-based solution on the market today, offering a more flexible and scalable AP processing system, and providing a unique seamless integration with Sage Intacct.

Newton added: “The quality of integration with Sage Intacct ERP was the top criteria in our selection process. We needed to have a quick implementation to guarantee the continuity of our activity and we were not disappointed as Yooz was set-up in one week!”

AP Automation with Yooz: a quick, secure and pragmatic solution that brought staff on board

With long-standing members of the team, some of whom have been with the company for more than 20 years, coming to terms with change was always going to be difficult. But LW Cole has embraced the transformation that Yooz has brought to manual, time-consuming financial processes.

Yooz self-learning processing technology combining Artificial Intelligence, Big Data and Deep Learning has helped eliminate time-consuming tasks with little added value and remove concern around the technology’s disruption to business.  “By providing the highest automation rate on the market Yooz has cut LW Cole invoice processing time by 60%, Newton adds. “Any member of the staff is now capable of sharing the information in real time and approve invoices in a couple of minutes from any location.'"

In just 6 months after the implementation of Yooz, the Group has observed the following benefits:

• Improved efficiency, improved quality and integrity of the data,
• Optimization of approval processes,
• A perfect and seamless integration with Sage Intacct allowing the accounting department to streamline the AP process quickly and smoothly.
• Significant time savings with invoice processing time cut by 60%.