Reams of paper receipts and complicated expense management have become a thing of the past for the Eatery Group. New corporate cards and smart receipts have allowed it to take back control while significantly reducing administrative tasks.
When Anders Sandkvist Pätsi took over as CFO of the food and meeting venue company Eatery at the end of summer 2022, he realised how difficult it was to gain a complete overview of costs.
-Employees spent money using their personal cards, then submitted paper receipts, including some in poor condition, from different places. I also couldn’t see how much spending was going on, he says.
In addition, the Eatery Group is a large organisation spread over a wide geographical area, where a lot of spending takes place on a daily basis. This covers everything from raw material purchases to payment for transport for catering activities.
Anders Sandkvist Pätsi soon realised that a completely new work process was needed and contacted Eurocard.
A complete review of expense management
-We already had a couple of corporate cards from Eurocard, so I called our contact person. Together we went through our expense management approach and the different types of purchases that we make, says Anders Sandkvist Pätsi.
Eatery now only uses Eurocard corporate cards, which the company has ultimate payment responsibility for. This means that individual employees do not have to spend their own money and the company can keep track of all the transaction data. All the cards are also stored in Eurocard Portal, a web-based tool that Anders Sandkvist Pätsi has access to.
We have saved many hours a week that were previously spent on expense management
-Eurocard Portal has given me complete overview and control. I can see all the purchases made with the cards in real time, set spending limits, and add new cards or block cards if necessary, he says.
Many hours saved
For some time now, the company has also been using the Smart receipts service, whereby employees can photograph paper receipts immediately after making purchases, match them with the correct transactions in the Eurocard app and forward them for approval.
-We now handle far fewer paper receipts. Thanks to the new cards, Eurocard Portal and Smart receipts, I believe that we have saved many hours a week that were previously spent on expense management.
He can instead spend his time working on Eatery’s business concept.
-This industry is rapidly evolving and we needed a payment solution that was able to keep pace with the company. Now we’ve found it.
The Eatery Group is a food and meeting venue concept chain with its sights set on becoming Northern Europe’s leading food and meeting venue operator across all age groups. Eatery Sweden currently owns 19 restaurant and conference facilities in the Stockholm area, Malmö, Lund and Mölndal. More Eatery outlets can also be found in Åre and at Arlanda Airport. As well as operating restaurants, Eatery prepares and delivers food to nurseries, primary and secondary schools and retirement homes.