DawsonGroup, the leading specialist asset rental business, has announced the integration of Yooz cloud provider of real-time purchase-to-pay (P2P) automation software to accelerate the digitisation of its finance department.
Operating across the UK and mainland Europe, the DawsonGroup portfolio includes over 22,500 assets including commercial vehicles, trailers, buses, coaches, sweepers, and more. The group's broad customer base is represented mainly by large reputable companies.
As explained by Nick Quin, Finance Manager at DawsonGroup, the decision to integrate an automated accounts payable system formed part of the company’s broader project, referring to a “high need for digitisation” to overcome the previous “paper-based and archaic” accounting processes.
“Invoices were transmitted by post, typed into our system, the paper invoices would then have a Purchase Order printed off and sent to the relevant departments to check the matching. Only then would it finally be sent to our accounts payable department for payment,” Nick Quin explains.
Other mitigating factors included financial documents being lost or missing while staff worked from home, and the need to have an automated integration with Netsuite accounting software.
After undertaking a rigorous selection process and scouring a long list of vendors, DawsonGroup selected Yooz as the preferred choice for AP automation, impressed with the ease-of-use and the customisation of the software.
Yooz combines real-time Artificial Intelligence, Deep Learning technologies to automatically record, and process invoices, utilising the processing experience of over 1 million vendors and more than 100 million financial documents.
“The intuitive and clear user experience is a main differentiating feature for us, as starting our digital transformation in finance was a very challenging journey for all of us, and most people in the company were used to paper invoices for a long time and reluctant to change. But with Yooz, you can get anyone from anywhere to use the software.” Nick Quin states.