How Plate It Forward Gained Financial Control Through Automation
Plate It Forward is a group of hospitality-focused social enterprises founded 6 years ago. Their mission is to create employment pathways for people who are often excluded from the job market, including refugees, asylum seekers, individuals from the justice system, and those on their recovery journey. The company operates 4 restaurants, a catering business, and a registered charity, Plate It Forward Limited, which provides over 3,000 meals each week to people experiencing food insecurity.
While their social impact is far-reaching, managing operations across multiple venues presented challenges to the finance team, particularly in controlling the accounts payable (AP) process and maintaining clear communication between the purchasing and AP departments. To address this, they implemented Lightyear AP automation solution that integrated with their accounting system, Xero, and helped them gain control over their AP process.
A Recipe for Lack of Financial Control
Jacques Dejardin, the Chief Operating Officer at Plate It Forward, explained that the company handled AP tasks completely manually. This created an issue of control and accountability.
“We’re food and beverage-based, so we deal with a high volume of invoices. But there was no real way to control who was doing what in each venue, and no dialogue between the accounts and purchasing teams. When it came time to find accountability, it often turned into finger-pointing, ‘Was it you? Was it you?’, which just felt culturally counterintuitive to who we are.” said Jacques.
Furthermore, Jacques highlighted that the need for an effective AP automation solution stemmed from the hospitality industry employing people from diverse backgrounds and varying levels of technical experience.
“Sometimes I find hospitality is a bit of a refuge for people from other industries. So, you don’t always get the same level of competence, professionalism, or skill when it comes to administration or technology. Many of our team members are front-of-house staff or chefs. They’re not necessarily computer-savvy. Having a tool I can plug in without worrying about their ability to understand it, or mess it up, makes all the difference.”
Jacques mentioned that they tried different automation platforms, each of which was considered the solution at one point.
“There were 3 or 4 platforms used across the group. In the end, I just realised that the venues open and operate, food and beverage stock is ordered and arrives, and we function, but the control point just isn’t there.”
Having used it before, Jacques recommended that they adopt Lightyear to gain control over their AP processes.
Without automation, we had to manually reconcile to identify what was right and what was wrong.
Catering to Control in Accounts Payable
“Lightyear’s integration with Xero was very straightforward, and the teams in the venues found the platform easy to use.”
Further, Jacques explained how Lightyear has provided his team with immediate financial control across multiple restaurants.
“Before Lightyear, we were purchasing huge volumes of product with absolutely zero control. It was all outsourced accountants’ sense-checking and gut feel. After implementing Lightyear, we’ve eliminated a huge amount of errors and, more importantly, a huge amount of risk. For me, it’s a product I can turn on and immediately get control of the money.”
In addition to controlling spending, Lightyear also enables Plate It Forward to manage user permissions, ensuring the maintenance of privacy and security across the company.
“Lightyear gives control by limiting the users to see only what they need to see, which is their processing tab. After that, it’s as simple as reviewing and approving from my end. I’m the only one who can review invoices, and someone in the venue has to confirm receipt and pricing. It makes the process easy and gives us full control over around $1 million in purchases.”
A tool like Lightyear can handle so many tasks around AP, and it gives me a real level of control.
One and a Half Headcounts Saved
“I probably only spend about 2 hours a week in Lightyear. Lightyear gives me a level of control where I can set up 1,000 recipes, link them to my POS, and manage stock systems in the background, a job that would normally take at least 1.5 people. Across 5 restaurants, each serving different cuisines, there just isn’t the time or resources to dedicate to that level of work.”
As a result, the team at Plate It Forward can track their spending and hold themselves accountable for it.
“With Lightyear, there’s peace of mind knowing that with a significant spend on goods and services, there’s now accountability and control where there wasn’t before. Peace of mind in business is hard to quantify, but being able to sleep knowing there aren’t 15 people across the business who can just order and do whatever they want is invaluable.”
When asked what advice Jacques would give other finance leaders looking at Lightyear for AP automation, he said:
“Getting control in venues takes time. It’s about managing change and culture. But if you’ve got an AP issue, Lightyear is a solution your team will quickly understand and adapt to, even if they’ve never used it before. It gives you full control over the money leaving your account. If you need a fast, effective way to get control of your accounts, Lightyear is it.”
See how Lightyear can help you gain control over your accounts payable.
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