Farmdrop Scales Rapidly in the UK and Implements PO Matching Financial Controls
- Automated purchase order matching and streamlined the integration with ERP, NetSuite
- Consolidated manual payment processes and reduced the payments workflow by 90%
- Boosted visibility with robust compliance controls and approvals
HQ London, UK
Customer Since 2019
Industry Food & Beverage
Tipalti was a big step up from other solutions—it was a no-brainer. With our rapid-fire growth, we can financially forecast for the future and retain satisfied vendors.
Head of Finance
Farmdrop is an ethical online supermarket, delivering the freshest groceries from a network of sustainable food producers on fair terms. By only working with producers committed to the highest environmental and animal welfare standards, Farmdrop’s model ensures that farmers are paid a price that allows them to farm more sustainably. Their driving mission is to enable producers to make better quality, ethical food.
Because of the high demand for online delivery options during the pandemic, Farmdrop’s UK growth skyrocketed by 150-200 percent. While expanding their network of suppliers, they came to a standstill. Farmdrop didn’t have enough hands to handle the tornado of manual accounts payable processing, compromising its ability to continue this growth path.
When Farmdrop enhanced its tech stack and implemented ERP system, NetSuite, it couldn’t effectively integrate with its current OCR bill-processing software. The solution didn’t have line items or payments. Jamie Clark, Farmdrop’s Finance Manager, and his team was working off a .CSV file that included supplier bank details, which led to excessive errors due to manual processing.
“Farmdrop scaled rapidly during COVID, which led to an exponential increase of invoices. Manually matching orders, invoices, and receiving information was a PO matching nightmare,” said Jamie Clark, Farmdrop’s Finance Manager.
Farmdrop’s Head of Finance, Alun Davies, wanted an AP Automation solution directly integrated with NetSuite. They needed technology to improve financial controls, provide payee onboarding, reduce payment errors, implement PO Matching, and automate invoice processing and payments.
Through the implementation of Tipalti, all of Farmdrop’s financial operations were available in one central platform.
“Given the volume of transactions we have now, it’s ten times where we used to be. We couldn’t do PO matching without Tipalti,” Davies explained.
By implementing PO matching, Farmdrop substantially reduced fraud risk and financial loss by preventing the reimbursement of unauthorized purchases. And they eliminated the need to relay documents to vendors.
“Being able to relay invoices accurately, back and forth, has strengthened alliances with our suppliers,” Davies said.
Plus, Farmdrop supercharged their approval and payments operations. Tipalti’s streamlined integration with NetSuite allowed them to process all payments and invoices seamlessly.
“Auditing was a waltz. The order receipts and vendor invoices were the only documents needed for audits. We didn’t have to chase down employees and suppliers for missing documents.” Davies recalled.
With Tipalti, supplier invoices attached in emails are automatically uploaded to the AP Hub for approvals, matching POs, and payments.
“The payment process is my favorite feature. The approval is much better than manually entering bank details. With the volume of transactions we have now, I don’t know how we’d fare without Tipalti,” Davies said.
Now Farmdrop’s finance team can shift the focus to their primary goal: maintaining customer satisfaction through ethical food standards.
As Davies stated, “Tipalti was a big step up from other solutions—it was a no-brainer. With our rapid-fire growth, we can financially forecast for the future and retain and grow satisfied vendors.”