How Happy Jewellers A SME benefitted from NanoNets
“Happy Jewelers is a family owned business started in 1993. We represent the 2nd generation of our family business. While our philosophy hasn’t changed much, our approach to business is new-generation.”
Happy Jewelers owns multiple jewelry stores across California, Chicago & New York. As they continue to expand the business, and add more locations, keeping a track of invoices coming in from multiple vendors was getting very tedious.
SMBs in retail usually follow complex workflows in accounting to ensure compliance. Hiring engineers to automate basic workflows is expensive, and short term hires do not provide them with the right product that can run for a long period of time.
“We’ve been using Quickbooks for accounting for quite some time now. However, to get invoices into Quickbooks we need to scan the invoices, punch in all details, create separate folders by vendors, and manage an excel sheet for all the invoices that we’ve received. We would spend 4-5 hours in getting our documents prepared and 2-3 hours on the actual payment and maintenance”
Happy jewelers was looking for a solution that could automate their entire workflow outside of Quickbooks.
“Working with NanoNets has been superfluid. They understand the requirements of SMBs very well, and were quickly able to suggest workflow automations using their solution”
NanoNets has workflow integrations both upstream and downstream. For SMBs, NanoNets can simply ingest invoices coming in as emails, run it through the Invoice model to capture key invoice information like seller name, invoice amount, invoice date, due date etc and save the invoices on the cloud in folders structured by seller names. This eliminates most of the manual work of sifting, sorting and classifying the invoices.
NanoNets downstream integrations with Google Sheets, allows it to save all the key information from the invoice directly into the spreadsheet. Which can be imported into any of the Accounting softwares like Quickbooks, Sage, Xero.
“The other important thing about NanoNets was that it did not disturb the operations for any employee, instead made their work easier. This helped our employees love NanoNets solution immediately. This was a major factor in our choice of vendor selection.
Results and What Next?
“Our employees now feel more productive and happy as most of the clerical work is now out of their lives”
NanoNets deployed the custom workflow for Happy Jewelers in < 7 days from the contract signing date. This directly impacted the finance team, who could now process 50% more invoices in the same time without hiring more people.
Happy Jewelers strong belief in keeping the employees happy leads to a stronger organisation shall only further strengthen and deliver better products to their customers, and obligations towards their vendors.
“We look forward to improving more processes on our backend, as we automate more of our AP processes”
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