Hy-Ten has adopted Causeway Tradex with the aim of streamlining its invoicing processes across the organisation’s 13 branches.
The company is a major distributor and a leading stockist and fabricator of steel reinforcement bars, mesh and accessories.
Having previously used Causeway Tradex when working with a customers, Hy-Ten were impressed by the solution’s functionality and was keen to use it within their own supply chain; to automate the accounts payable process. Working with Causeway Tradex, Hy-Ten wants to standardise invoicing practices and gain greater visibility when handling invoices.
Previously Hy-Ten’s invoices were paper-based or came in as PDF attachments received via email. When an invoice was submitted, it would go to one of the individual branches for manual review. With 13 branches across the country, this manual approach quickly became unsustainable and led to a lack of visibility.
Planning was also difficult for the finance team and it was clear that the business needed a solution that delivers improved data visibility, streamlines the approval process and ensures informed decision-making.
Hy-ten are working on implementing the solution with the Causeway Tradex team in order to achieve a smooth transition to the new process. Initial work will approach their bespoke invoice validation rules; for example looking at HRMC compliance, searching for potential duplicates from suppliers, and checking if there is a valid purchase order number. This automation will remove the manual process, saving the finance department time and giving confidence that all invoices are compliant and accurate.
Hy-Ten will then transfer data into the Tradex DocStore - a cloud-based document repository, where a workflow approval will be made by relevant branches and second-stage approvals can be made by their Chairman.
As Causeway Tradex allows for 3rd party integrations, it also removes the need to rekey invoicing going into Exchequer – their current financial accounting solution.
Streamlining this process and improving visibility across Hy-Ten’s finance function means suppliers can be paid on time, which will in turn reduce supplier disputes and strengthen supplier relationships.
If you'd like to learn more about how Causeway Tradex could make a difference to your business, speak to one of our team to arrange a demonstration.