Industry: Photo Printing, E-Commerce, Mobile Apps
Using Precoro since: Mar 2019
POs per month (av.): 100
Featuring: David Grimbert, CFO
"Precoro is an ideal fit for scale-ups as it gives flexibility and control over your purchasing process when your organization evolves quite fast."
Cheerz is a photo printing company founded in 2012 in France. They offer mobile-to-print services with the idea to let people conveniently print photo products such as prints, albums, magnets, etc. directly from their smartphones.
In 2015 Cheerz raised €6 million in their Series A funding round, and in 2018 they were acquired by German photography company Cewe for €45 million. As a result, they increased their headcount from 100 to 150 just in a year.
We asked Cheerz CFO David Grimbert to share his experience about managing the spending within a fast-scaling team and what is the role of Precoro in their purchasing processes.
Previously, operations and finance teams relied on multiple Excel spreadsheets to track the purchasing process and match invoices. It became a pressing issue with the growing number of invoices.
“We used to receive some invoices with delays, sometimes even a few months after receiving the service. Hence the Finance team had no idea about the incurred and couldn’t budget it properly,” David explains. “Another issue was matching invoices in Excel at the end of every month. People could erase some data by mistake, and there was no way to track that or approve any changes in documents. We used a file with sensitive information that everyone could edit. I wasn’t confident about its consistency at all.”
This manual process was in place for about a year. As their volume of purchasing had increased along with the number of people in operations and other teams, it became clear that there is a need for a more streamlined and collaborative solution.
Looking for a solution
The new tool should have been simple and structured at the same time. “There was a concern that if the new tool wouldn’t intuitive and easy to use, the team would be reluctant to adopt it.”
Other criteria were traceability of processes and having the possibility of audit trails, especially after joining Cewe Group in 2018.
After David and his colleague from the Procurement team saw a Precoro demo, they had decided it was what they were looking for.
“The main point of why we decided to go with Precoro was that we knew people would be happy about using it. It has a pleasant interface and it's very simple to understand how to use it. Every solution that we considered previously was either good-looking but had not enough functionality or too advanced but with a clunky interface.”
Another important factor was the possibility of integration with their accounting system Sage. While Cheerz already uses Spendesk for credit card spends, Precoro is used for purchases that include invoice payments. Such purchases usually have the higher total sum and higher count of items and need to be uploaded into accounting software automatically. As of this writing, David is finishing a direct connection to Sage through API to make AP process even more streamlined.
“The one important point about Precoro was the fact that new features were going to be launched regularly, and we could ask for the features we need. If it makes sense for us, there is a chance that it makes sense for other clients as well and that it would be integrated into Precoro’s road map. That was something of great value to us”.
Implementing the new system
Cheerz decided to switch from Excel to the new process department by department to make sure everyone keeps up with implementation. The Operations team was the first one to start adoption, and then the Marketing with a perfect use case:
“In marketing, we deal with influencers as there is a large number of promotional posts that should be tracked, validated, and paid. When we receive an invoice, we find the order, see if it matches, and close it. There’s no need for additional validation from the Cost Center Manager. It gives us great control. Precoro has helped us to automate the process.”
Once Cheerz has found that Precoro eased their life on that aspect and the team was happy with the new tool, other departments started using it as well.
“My responsibilities as CFO haven’t changed much. It’s still the same role - planning our budgets and making sure that people stick to the plan. But the process became more efficient and automated. I can track everything much faster and in a convenient way.”
Cheerz needed to automate their inefficient Excel-based purchasing - with Precoro, they achieved this goal and even more. The information now is structured and secured, approvals are done on time, and processes are streamlined.
"Precoro is an ideal fit for scale-ups as it gives flexibility and control
over your purchasing process when your organization evolves quite
See how you can start spending smarter with Precoro by signing up for a free 14-day trial.