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JONAK SAVES ONE DAY PER MONTH ON ITS ACCOUNTING
:Marcel Nakam, Managing Director
:Jonak
:Paris
:Retail
:250
:Automatic import into accounts
:National collective agreement for shoe retailers
Marcel Nakam is the managing director of Jonak, which he has managed for nearly ten years. The shoe brand born in Paris in 1964 now has a hundred stores throughout Europe. Proximity and trust are keys to better managing supplier relations for this family business!
Jonak – some figures:
Around 250 employees
100+ stores, including 70 in France
Around 60 suppliers
Nearly 600,000 pairs of shoes sold each year
95% of invoices managed via Libeo
“Libeo has been a key component in modernising our finance department. Because our suppliers are modernising at the same time as us, and because Libeo is really easy to use”
JONAK, A TRUSTED RELATIONSHIP WITH ITS SUPPLIERS
Jonak strives to work exclusively with European suppliers: Portugal, Spain and Italy. A condition that has proven to be very practical has set it apart from its competitors during the pandemic. Jonak works with a limited number of suppliers. Their partnerships are essential: many of them have been manufacturing shoes exclusively for Jonak for 15-20 years on average.
For Marcel Nakam, who has been running the company for nearly ten years, invoice management comes up against four main problems:
Non-optimised payment times
Artisanal management, together with significant volumes
The time involved in creating new bank details
The fear of double payments
The latter has rarely happened or has only involved relatively small amounts, but it requires a great deal of checking and verifying. Libeo provides Jonak with 100% security thanks to its duplicate invoice detection tool.
When it detects a potential duplicate invoice, the platform notifies the user, who can then check the documents:
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WITH LIBEO: ONE DAY SAVED PER MONTH
Since Marcel Nakam works closely alongside his suppliers, the transition needed to go smoothly. And that is precisely how it went. All they have to do now is send the invoices to a dedicated email address. The invoices are automatically uploaded and processed on the Libeo platform.
For him, Libeo’s most significant advantage is automatically dumping data into the accounts. This feature saves him time – transcribing information into the accounting system alone would take a whole day every month!
Second advantage: payment at the due date. For Jonak, this is a real revolution: the invoice is processed for good, and at the same time, cash flow is optimised since payments are not offset:
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“Libeo has helped us spread a cash management culture across the entire group, thanks to the “payment at due date” feature.”
A REAL ASSET, ESPECIALLY WHEN IT COMES TO WORKING REMOTELY
Before, some bills would be paid immediately, at the manager’s insistence, while others would be left on a desk until a later date. Marcel Nakam tried to instil this cash management culture into his teams for a long time. Now they have acquired it.
Also, regarding work habits, Libeo has been extremely practical for managers during lockdown: many people are still working remotely and will continue to do so. Having a platform that centralises all transactions and interactions seems more user-friendly and efficient than sending out untimely emails if he had to sum it up in three words: productivity, no risk of error, and efficiency.
“At Jonak, Friday was traditionally ‘payday’. Now, all invoices are already collected by Friday, so all we have to do is approve all payments in one click on the Libeo platform.”
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