Payhawk is a leading platform for corporate expense management, enabling companies to control and optimize their financial processes through advanced digital solutions.
The Challenge:
Many companies, including Payhawk's clients, face challenges with traditional manual accounting processes, such as handling invoices for company payments, travel expense forms, and other expense-related documents. These tasks are time-consuming and prone to errors. The lack of automated solutions complicates expense tracking and management, reducing the efficiency of financial operations.
How We Achieved the Result:
The automation of accounting processes was achieved in three main steps:
During this phase, we analyzed Payhawk’s primary needs to enhance the existing financial processes for their clients. We identified key partnership goals, including cost optimization and efficient expense management.
- Automating Bill Payment Processes: The objective was to reduce manual data entry, minimize errors, and streamline processes related to expense reporting, accounting, invoice management, and payment reconciliation, all without human intervention.
- Improving Real-Time Visibility: We provided companies with real-time access to comprehensive expense data within their organizations, enhancing budget control and debt management.
- Optimizing Financial Processes: By combining Payhawk’s expense management capabilities with Odoo’s reliable accounting features, the partnership aims to improve cash flow management and overall operational efficiency.
- Ensuring Compliance and Security: Maintaining compliance with international security standards and local regulatory requirements is essential to ensure secure financial management.
At this stage of our collaboration, we implemented digital expense reports and integrated payment cards, enabling a smooth transition and comprehensive control over transactions and traceability.
PLANA Solutions integrated Payhawk’s expense management platform with Odoo’s accounting module. This integration enabled a seamless data flow between the two systems, allowing for automated expense accounting and data synchronization.
A Key Feature of This Integration was the real-time, bidirectional synchronization between Payhawk and Odoo. This function ensures that partners, expense categories, and analytics are updated in both platforms, providing a comprehensive and accurate financial overview.
The system allows for customized workflows to match the specific needs and structures of clients’ businesses, ensuring that all expenses are reviewed and approved quickly and accurately, meeting the unique operational requirements of each business.
Training was conducted for the financial teams of Payhawk’s clients in a test environment, ensuring smooth adoption of the integrated system, maximizing its potential benefits, and guaranteeing users are adept at utilizing all features.
Continuous monitoring and support were provided to address any challenges promptly, ensuring effective debt management. This support was crucial to the smooth functioning of the system.
Benefits and Results for Clients of PLANA Solutions and Payhawk:
- Enhanced Automation: Reduced manual data entry, leading to fewer errors.
- Real-Time Visibility: Access to expense information, enabling informed decision-making.
- Optimized Workflows: Streamlined financial operations for greater efficiency.
- Bidirectional Synchronization: Up-to-date data across both systems, ensuring synchronization.
- Compliance and Security: Guaranteed protection and adherence to regulatory requirements.
- Increased Control: Expense management with approval workflows.
- Operational Benefits: Improved cash flow management and strategic decision-making.
Implemented Modules:
This project included modules for accounting automation, expense management, and digital payments, providing a comprehensive transformation of processes.
The collaboration between PLANA Solutions and Payhawk integrates Payhawk’s expense management platform with Odoo’s accounting module. This integration provides a complete and automated solution for expense and banking transactions without human intervention.