Case Study: Happay Helps Habanero Eliminate Cash Leakage in 5 Outlets Across 3 Cities
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Transcript of Case Study: Happay Helps Habanero Eliminate Cash Leakage in 5 Outlets Across 3 Cities
Happay Helps ‘Habanero’ Eliminate Cash Leakage In 5 Outlets across 3 Cities
2015, VA Tech Ventures
Customer Case Study
INDEX
About Habanero
The Problem
The Solution
The Result
1
2
3
4
2015, VA Tech Ventures
• India’s first authentic Tex-Mex restaurant
• Established in 2011
Learn more at www.habanero.in
• Streamline petty cash management across outlets • Achieve real-time tracking and error-free accounting
THE GOAL
• Distribution and reconciliation of petty cash was
paper-based and manual • No visibility and control over cash being spent • Cash leakage was common as accounts didn’t match up
• Has 5 outlets in South India spread across
Bangalore, Chennai and Hyderabad
THE CHALLENGE
THE RESULT
• Real-time disbursement, tracking and accounting • Automated and streamlined workflow • Zero cash leakage
About Habanero 1
• Features classic Mexican foods, Tex-Mex
creations, and Texas-influenced American items
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ABOUT HABANERO
Founder & CEO
GRIFFITH DAVID
Habanero was facing serious operational challenges with cash management.
2 The Problem
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CORPORATE OFFICE
Bangalore
Chennai
Hyderabad
The company relied on manual methods for distribution, reporting and accounting of cash.
2 The Problem
Distribution of petty cash was slow and cumbersome.
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• Funds were physically distributed to each outlet by the Head of Admin, as part of his routine visits.
• Additional funds, over and above what was already allotted, were transferred via NEFT to the store manager’s bank account.
Challenges:
Cash disbursement was slow and there was also the risk of loss or theft of physical cash. Additional purchases had to be made from out of pocket or had to be delayed till the NEFT transfer was made.
OUTLET 1 OUTLET 2 OUTLET 3
CITY 1
Risk of loss
Risk of theft Time-consuming
2 The Problem
Reporting and accounting of expenses was paper-based and manual.
2015, VA Tech Ventures
The expense reporting workflow from requisition to accounting was long and laborious.
1. REQUISITION 2. FIRST ENTRY 3. DISBURSEMENT 4. PURCHASE 5. RECEIPTS 6. FINAL ENTRY
Employee made a requisition to the store manager for the list of
items to be bought.
The store manager entered the list of
items in his system.
He then gave the employee a cash
advance against the entry made.
Employee purchased the
items he needed from the store.
Collected bills and submitted
them at the end of the each month
Store manager matched bills and entered data into
accounting.
Challenges:
On any given day, not one but many employees, across different outlets, requested funds for expenses.
Store managers were overloaded with requests. Sometimes funds weren’t sufficient to meet the number of
requests. Manual data entry was time consuming and error prone. At the end of the month, there were piles
of receipts to be reconciled and at times, the accounts didn’t match.
Habanero chose Happay to overcome its cash management woes.
3 The Solution
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CORPORATE OFFICE Access to Happay’s Web and Mobile Dashboard
HABANERO OUTLETS
ADMIN DASHBOARD
Access to Happay’s Expense Card and Mobile App
OUTLET 1
OUTLET 2
OUTLET 3
CORPORATE OFFICE
ADMIN DASHBOARD
3 The Solution
How Happay works for Habanero
Each Habanero outlet receives Happay cards. Petty cash funds are added
to Happay cards instantly. Budgets and policies are set for each outlet.
SEND
Take photos of bills
and submit them instantly
APPROVE
Managers view and
approve expenses
instantly
VERIFY
Finance teams verify
reports and export
data to accounting
Happay automates and streamlines Habanero’s expense report workflow from
purchase to accounting - making it simpler, faster and error-free.
SPEND
Employees use Happay cards
for their day-to-day expenses
3 The Solution
2015, VA Tech Ventures
How Happay works for Habanero
4 The Result
The expense reporting workflow is cashless, paperless and streamlined.
Employees can request money on their cards from their Happay mobile app. No more requisition forms! Every time they spend on the Happay card, expense details are automatically captured on mobile. They can take a quick picture
of the paper receipt and toss it away for good. Expense reports can be viewed and approved by store managers and
corporate finance teams - within seconds.
Cash leakage is eliminated and accounting is error-free.
Store managers and company administrators have complete visibility into all employee purchases, in real-time. They
are notified when balances are low on cards and can make sure that their employees always have the funds to keep
the business going. Company admins can set limits on individual outlet cards, analyse card spends and patterns and
even export expense data seamlessly into their accounting system.
Disbursements are fast. Unexpected money requests are processed instantly.
Petty Cash funds are transferred to Happay Cards instantly with a click of button, from the admin’s Happay dashboard that is accessible from web and mobile.
2015, VA Tech Ventures
“Happay has simplified our accounting and tracking of expenses significantly.
We have been using Happay Cards with the integrated mobile and web dashboard in our Bangalore, Hyderabad and Chennai outlets. All disbursements to our branches and all expenses are automatically recorded and verified, and hence they can directly be imported into accounting.
The team has also been great to work and their support is excellent – all key requirements for business users like me. Several minor changes we requested were implemented immediately.
I would highly recommend this application to other CEOs.”
Griffith David, CEO Habanero Foods International
2015, VA Tech Ventures
1500+ companies have streamlined cash management with Happay
and have experienced fantastic results… Don’t be left behind!
Click here to get started
2015, VA Tech Ventures