YoungCapital

In 2000, YoungCapital started from an attic room as a job board. The name at the time was Student Work. Over the years, the company launched multiple labels and gained increasingly larger clients. Studentenwerk grew into recruitment agency YoungCapital, which in 2019 puts more than 16,000 candidates to work every day. The dynamic, young company tries to do everything just a little differently than the rest: it thinks along with clients, maintains short lines of communication and shuns rigid hierarchy. The open, energetic organizational culture translates into even more growth: YoungCapital captured the fifth spot on the list of fastest growing companies in 2018 and went from 500 to 1,300 employees in three years.

The need

In 2018, YoungCapital switched to a new ERP system: AFAS. In this software package, the company could do a lot related to finance and hr. But the accounts payable department was looking for a system specifically for processing purchase invoices. From the organization, the department received an important message: ‘Whatever system you choose, make sure you do as much as possible in AFAS.’

The solution

The accounts payable department made a list of contenders. Whitevision came out on top: the solution would integrate well with AFAS, met all the department’s requirements and was the best option price-wise. YoungCapital requested a demo, which made a good impression: the Whitevision account manager responsible for the AFAS connection gave a promising presentation showing how the solution would work for the company. One of the advantages: Whitevision links so well with AFAS that no one outside of accounts payable would even notice the use of the purchase invoice processing solution. YoungCapital was convinced: Whitevision was a necessary and valuable addition to the new ERP system.

The benefits of Whitevision

More overview, time and efficiency for accounts payable
Fast monthly closure because all figures are immediately up-to-date in Whitevision and AFAS
Very good training functionality for the SMART-OCR software
Standard solution with extended features such as: transit booking
Get up and running quickly after excellent implementation and two-day training

“Whitevision provides overview and saves us a lot of time,” says Bob Lut, team lead finance executives. He leads YoungCapital’s accounts payable department, a department that ensures that all payments are made on time. “Whitevision puts all invoices into AFAS, where a procuration schedule is started. This shows who is allowed to approve which invoice. The solution is set up very simply and effectively. If you change something in AFAS, it is taken over in Whitevision within moments. And when we create an entry in Whitevision, it is immediately put into AFAS. So all the figures are immediately up-to-date.” A big advantage for YoungCapital, because the accounts payable administration closes per month: “We can now do that much faster. With Whitevision, all costs are immediately where they should be. With many other systems that kind of information is only visible after everyone has approved an invoice, but we have all the necessary data immediately!”

"Whitevision's OCR training functionality really works great."

Bob is very satisfied with Whitevision’s SMART-OCR solution: “In 95 percent of cases, the system correctly recognizes the invoice data – from invoice date to VAT amount and from Chamber of Commerce number to IBAN number. In such a case, WhiteVision creates a booking proposal that we only need to check. That saves an enormous amount of time.” Sometimes, however, the system does not recognize the invoice dates quite correctly. “It sometimes happens that the solution mistakes the due date for the invoice date, for example,” Bob explains. “In such a case, you can train the system. That works really great. You select the relevant data with your mouse and indicate what should be done. That’s enough training for the system to get it right on the next invoice!” Bob likes the fact that Whitevision is always readily available to discuss such questions. However, he has not yet had to contact the support team. “So far we’ve really only interacted with the account manager and consultants who implemented the solution and gave us training.” Bob is very pleased with that training: “Over two days, we were introduced to the functionalities offered by Whitevision. That was incredibly useful, because it allowed us to quickly get started with the solution. Moreover, it taught us how to train the system. We now benefit greatly from that.”

"Whitevision in one term? 'Plug and Play.' The solution is fast, effective, fun and time-saving!"

Would YoungCapital like to continue working with Whitevision for the time being? “Definitely,” says Bob. “Sometimes you sometimes adopt a solution because you need to get going quickly, while you actually already know that a year and a half later you will have to find something else. I definitely don’t have that with Whitevision. The solution has no aspects that don’t work well, so I see no reason to replace Whitevision.” So Bob would definitely recommend the solution to other organizations: “It’s just a very effective system. Any business can save time with it – and time is money. So that’s music to the entrepreneur’s ears!”

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