YOULOVEWORDS DIVIDES THE AMOUNT OF TIME SPENT ON BILLS BY FOUR

:Jérémie Hoarau

:YouLoveWords

:Paris

:Content Marketing

:30

:Payment with IBAN

:National collective labour agreement for executives, technicians and advertising employees

YouLoveWords is an agency renowned for the quality of its content creation. Its secret? Its community of freelancers: more than 5,000 professionals, creatives, experts and specialists in many sectors. 5,000 freelancers to assign to projects, but also whose invoices need to be paid – a huge workload

YOULOVEWORDS: 5,000 FREELANCERS AND THEIR INVOICES TO MANAGE DAILY

YouLoveWords is a multidisciplinary agency specialising in content marketing. It provides comprehensive support and counts companies in the banking, fashion and household appliances sectors among its clients, as well as websites such as Airbnb and Deliveroo.

YouLoveWords – some figures:

30 employees
€100,000 of content produced
150 clients worldwide
Turnover of €4.5 million
5,000 freelancers to assign to projects and whose invoices need to be managed

BEFORE LIBEO: AROUND A HUNDRED INVOICES ENTERED MANUALLY EACH MONTH

To understand all the challenges involved in dealing with invoices at YouLoveWords, a little context is needed: the agency specialises in content marketing and provides its clients with a wide catalogue of services so it can reach a very broad target.

In return, the agency receives, processes and pays the invoices of its 5,000 freelancers, internally. An enormous workload, especially since, from one month to the next, it has to process several invoices for each freelancer.

And remember that for each invoice, the amounts, dates, legal notices, company identity and more all have to be checked.

Not to mention the additional tasks:
Follow-up reminders,
Invoice tracking,
Paying invoices in instalments
Checking accounts, balances, advances

That is an average of one hundred invoices per month. All processed in Excel, with a lot of manual inputting, which can potentially lead to errors

“Before Libeo, managing invoices took us a day and a half per month, and required two people. Now I can manage invoices on my own, in just half a day.”

Jérémie Hoarau

Management accountant - YouLoveWords

WITH LIBEO: NO MORE THAN 30 SECONDS PER INVOICE

In early 2020, YouLoveWords decided to switch to Libeo to manage its billing. Whereas it initially took two people a day and a half every month, the agency reduced that to just one person spending half a day per month. That means that the time involved has been divided by six.

No more loose sheets of paper scattered around in 12 different folders: invoices can now be collected straight from mailboxes or dragged and dropped and kept all in one place in the Libeo interface:

Invoice dashboard

Thanks to automatic invoice recognition, data entry is automatic. All we need to do now is approve the invoices in the supplier account, and then schedule payment:

Réglez au bon moment EN@2x

The result is clear: No more than 30 seconds spent per invoice. Optimised working time, but above all reduced risk of errors and duplicate payments.

Thanks to invoice follow-up in teams, admin is simple, and can be done in real time:

Invoice follow up

PAYMENT WITHOUT AN IBAN, MAJOR TIME SAVINGS

Jérémie is often up against the clock and particularly appreciates being able to make payments without an IBAN – an invoice can be approved in just a click and then the supplier can be informed by email that payment has been made.

It's worth pointing out that Libeo does not replace the bank: it connects to the bank via the back office module. The platform can connect to all European banks – that's more than 5,000.

YouLoveWords is now planning to switch to Libeo for the entire invoice validation workflow:

Computerisation and centralisation
Bulk invoice import
Automated data entry and IBAN verification
One-click validation
Immediate or scheduled payments
Real-time payment tracking
History of payments made and received

“With Libeo, all invoices are stored directly in the correct supplier account. It's very fast and we can be absolutely certain that the information is accurate”.