Licious Case Study

Ebook

mypropixel('TYASuite','77106032334ffefe6f989f697174bdc8');

The success story of one of our clients :

Licious is a one of the biggest D2C Companies in the Food Processing Industry. One of the fastest growing Unicorn Start-up in India. Licious has more than 50 offices across India. Their business requires them to procure a wide range of raw materials and other goods as well as services across India.

Company
Licious

Industry
Food Processing

Website
www.licious.in

Employee count
3500+

Challenges faced by our clients

Lack of a systematic procedure for Vendor Master Management
Absence of any kind of process for selecting the Account code for accounting with no data to analyze
Inefficient procedure for Purchase Requisition/Manual Purchase Requisition
Lack of an organized method for Purchase Order/Manual Purchase Order
Approvals were merely done through a physical invoice copy which made the system more complicated
Multiple duplicate payments being processed which was a big issue
Payments being done to the wrong vendor
Zero visibility on expenditures till the invoice is manually entered into accounting software

Solution

We then demonstrated to them how most of their pain points could be handled with our TYASuite Plug and Play procurement software. Our client tried our product and had a great experience as it offered an all-in-one solution which includes:

Vendor management and effortless onboarding
Smart purchase requisition right from submission to approvals
Efficient quotation request and management
Flawless Purchase Order, tracking and approval
Facilitates Goods Received Note (GRN) and Quality Checking of inventory
Easy invoice management of the received inventory
Secure and seamless payment management

After realizing that TYASuite procurement software was a right fit and could resolve all their pain points on the above-mentioned areas. The client also considered few software like Finly and Kissflow to handle their requirement but chose TYASuite over the others. As our procurement software specializes in Quick Implementation, flexibility, modern user interface and functionalities and much more which convinced the client to choose TYASuite over others.

Results

The client was able to:

Save significant amount of time with the help of automated 3-way match on TYASuite
Save more than 50% time of the accounting team and bring 100% accuracy of entries through bulk upload feature
Most importantly, Covid has hit the eco-system and they were able to navigate to a 100% digital system without much difficulty, with 5X growth in their volume

With these significant results Licious made notable progress in its procurement process. They can now focus on high priority tasks and in turn accelerate growth and optimization.

With our TYAsuite procurement software, all-in-one software solutions businesses can overcome these obstacles and provide quality product and services

Our first move to understanding the pain points

The procurement challenges worsened but our Founders reached out to the company at just the right time. We immediately understood the pain points our clients were dealing with. Most of the setbacks mentioned by Licious were similar to the ones faced by most organizations when it comes to the procurement function. We suggested they try our advanced procurement software solution that could resolve all these issues single-handedly

Benefits

Bring all their Vendor Master at one place
Streamline their vendor onboarding process and add the vendor approval process
Start the purchase requisition process through a centralized system
Reduce requisition approval time through monitoring
Start PO creation process through a centralized system
Get the PO approved through digital systems
Replace the manual reminders for PR and PO approvals through system generated
Real-time notifications for pending payment dues
Implement amount-based approval system across the company