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Customer case: TransferWise is striving for efficiency with Telema eFlow

In 2015, TransferWise was struggling with manual and time consuming accounts payable process. Hundreds of purchase invoices were hiding in drawers or mailboxes disguised as spam. Today the company has implemented Telema eFlow - a solution for cost allocation and electronic approval of purchase invoices. The solution has made company’s invoice handling process convenient and mistake-free across the world.

               
 
TransferWise is an Estonian origin startup, offering international money transfer services more transparently and affordably than traditional banks. Company’s 8 affiliates are based in UK, USA, Canada, Australia, Hungary, Japan, Singapore and Estonia. TransferWise offers services in 59 countries and employs over 600 people.

Telema services in use:
Telema eFlow
Documents:close to 1,000 purchase invoices
Business software:MS Dynamics NAV

Krista Teearu,
Chief Accountant at TransferWise
                                
Electronic e-invoice handling is about 6 times faster compared to the old paper based process. Lots of efficiency is gained from automation of recurring invoices’ handling. All regular purchase invoices can be processed very quickly, using cost allocation rules and automatic workflows.

Telema eFlow’s cloud solution is integrated with company’s ERP: MS Dynamics NAV. The solution is easily accessible from any device outside the office, making Telema eFlow especially convenient for staff on the move.

Krista Teearu, Chief Accountant of TransferWise: “The company’s purchase invoice process has changed for good - digital approval workflow is efficient, cost allocation automatic and precise, access to invoices much more convenient at all times, and there are almost no mistakes.”

Even though there are several providers offering purchase invoice handling and automation, TransferWise chose Telema eFlow. “We value Telema’s flexibility as a provider. Telema eFlow is a user friendly and intuitive solution that has evolved with our needs,” explains Krista Teearu. “Purchase invoice handling process should be fast, simple and convenient, so that company’s employees could concentrate on more meaningful tasks.”

Telema eFlow enables to process all purchase invoices digitally, regardless of their format (paper, PDF or e-invoice). With e-invoice increasing diffusion, there will be no need for manual data entry, and the efficiency and accuracy of the process can increase even further.

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No.3 retail chain in Latvia chooses Telema EDI

In September 2016, two more members of Iepirkumu grupa – “Lars Limited” (13 shops) and “Pārtikas veikalu grupa” (6 shops) started electronic data interchange in Telema network. Telema has the agreement with all Iepirkumu grupa’s 19 group members under the franchise “TOP!”. All together, the member companies operate 228 grocery stores across Latvia. Stores are being connected to EDI gradually.

The lately connected Lars Limited and Partikas Veikalu Grupa shops are already exchanging e-orders and e-invoices with more than 40 bigger suppliers, among others with bakery Hanzas Maiznīcas and dairy Latvijas Piens. The active onboarding of suppliers is planned to be completed over the next 6 months. Smaller suppliers are given time to adjust to the new process and set up proper EDI connections.

The “TOP!” franchise group sets a good example to other retail chains with scattered store network all over the country. With strong end goal of increasing efficiency in mind and good project management, technical EDI implementation from zero to live pilot connections can be done in just 8 weeks.

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