Customer Story
Taylors Wines
From Vine to Invoice: Embracing Automation for Accounts Payable
- Reducedmonth-end close off from 10 to 6 days
- Enhanceddecision making
- Freed upstaff time to focus on data analytics & reporting
- Enhancedemployee health & well-being
- Improvedsupplier relationships
Taylors Wines, located in the Clare Valley in South Australia, is well-known for producing high-quality wines. The Taylors family has been involved in winemaking for several generations in one of Australia’s most renowned wine regions. The company is recognised for its sustainable and environmentally friendly practices in grape growing and winemaking.
Challenges - Lack of analytical & reporting tools hinder cashflow projections
The Accounts Payable (AP) department plays a crucial role in accurately forecasting cashflow requirements. However, the efficiency of cashflow management relies heavily on robust process controls and immediate access to information. Unfortunately, these vital components were limited by manual processes in the past.
The previous system proved to be highly labour-intensive and slow, particularly given the remote business location. Hamza Jinwala, Finance Manager at Taylors Wines, stated that "our operations were entirely paper-based. Approval processes involved mailing documents to us, which lead to significant delays." Visibility into invoice processing and approval status was minimal, and the team faced limitations in terms of analytical tools, reporting options and audit trail capabilities. Because of these factors, Taylors Wines acknowledged the need to enhance the AP process.
OBJECTIVES
- Eliminate data entry tasks to free up time for broader responsibilities
- Optimise efficiency & increase transparency
- Allocate more time to data analytics & result evaluation
Solution - Manual processing is good for wine — but not for AP
Acknowledging the pivotal role of automation in securing future success and growth, Taylors Wines strategically opted to deploy the AI-powered Esker Accounts Payable solution.
Esker has expedited invoice processing by eliminating the manual sorting and handling of invoices, thereby reducing the likelihood of errors or misplacement.
Antonella Mifsud, Accounts Officer at Taylors Wines, said "I find it beneficial that Esker automatically allocates invoices to the correct staff members for coding and approval. This feature is particularly valuable for companies like Taylors with a sizable workforce, ensuring smooth and timely processing of invoices."
Mr. Jinwala noted the solution’s thorough understanding of financial processes and transactions, and providing valuable data for making informed decisions. He continued the accolades by pointing out that, unlike some other options Taylors Wines explored, Esker has the capability to learn from errors. In instances where the solution doesn’t correctly identify the invoicing stage, the system can be instructed and it subsequently retains that knowledge. This proactive learning process effectively diminishes the likelihood of similar errors occurring in the future.
As per Mr. Jinwala, the solution clearly stood out among its competitors and proved to be the best by a significant margin. "During our enquiries about various capabilities, the Esker team consistently assured us that we could achieve our goals. This was in stark contrast to other providers who made grand promises but failed to deliver." The Esker solution successfully met all of the company’s requirements. He further commented that "this is one of the most impressive project implementations I’ve encountered in my career." The Esker team demonstrated exceptional skills in scoping the work, coordinating with Taylors Wines’ SAP integration partners, providing comprehensive end-user training, and ultimately delivering a polished product.
I am impressed by the solution’s interface, which stands out for its user-friendly design, and making it easily comprehensible and adaptable for any new user.”
I appreciate that Esker recognises the GL codes from previous invoices and automatically allocates them. This feature saves the accounts payable team valuable time since they no longer have to manually look up GL codes for each invoice.”
Results - Cultivating employee well-being & supplier satisfaction
By integrating automation into the AP process and extending its application to various other functions, Taylors Wines successfully implemented significant cost savings, mainly through the elimination of tedious and repetitive manual tasks. "The streamlined processes have not only expedited task completion for our employees but have also substantially reduced errors. This achievement represents a major win for us, as fewer errors mean decreased late fees and accounts on hold," said Mr. Jinwala. Consequently, the workplace stress has been notably reduced, fostering a more positive work atmosphere for the Accounts team.
Automation has extended its advantages beyond the Accounts department, positively impacting employees across various roles. Now, managers have access to all relevant information, empowering them to make better decisions and effectively oversee their respective cost centres. Overall, the successful integration of automation has not only improved cost efficiency but has also enhanced the overall quality of the company’s employee’s work life.
Moreover, a timely and efficient payment processes, coupled with a significant reduction in errors, has fostered stronger and more positive relationships with the company’s suppliers. "Given the challenges of sourcing quality suppliers in remote locations, cultivating a good rapport is crucial, and our ability to consistently pay on time has played a pivotal role in strengthening these connections.".
Mr. Jinwala also offered valuable advice to other companies aiming to optimise their AP operations. He emphasised the importance of defining requirements from the start. "It is essential to engage in a demonstration with the solution provider, allowing them to showcase their capabilities using your specific data and invoices." Additionally, he highlighted the significance of reference calls, emphasising the need to learn from success stories and current clients about the implementation process and ongoing support.
Discussing future plans related to the company’s automation journey, he expressed that the upcoming focus lies on procurement. The goal is to eliminate paper and consolidate processes and workflows using Esker’s global platform company-wide.
HIGHLIGHTS
- Reduced month-end close off from 10 to 6 days
- Enhanced decision making
- Freed up staff time to focus on data analytics & reporting
- Enhanced employee health & well-being
- Improved supplier relationships
The implementation of Esker has had a positive impact on our organisational ecosystem, enhancing efficiency and transparency in relationships. Timely payments to the suppliers have been instrumental in building trust, ensuring continuity, and upholding a positive brand image. Collectively, these factors have been instrumental in contributing to the long-term success of our organisation.
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