Good Job Creations (Singapore) Pte Ltd.
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Reduced invoice processing from 2 hours to 10 minutes
Process visualization also strengthens compliance
Good Job Creations (Singapore) Pte. Ltd. has a parent company listed on the first section of the Tokyo Stock Exchange and assists more than 300 job seekers annually in Singapore. After overcoming the COVID-19, the company is now undergoing a fundamental review of its operations in order to aggressively expand its business in Southeast Asia. We asked them about the challenges they faced before implementing Bill One and the concrete effects it had on their business.
Challenges faced
- Accelerating monthly financial closing
- Improving efficiency of accounting operations
- Effective utilization of human resources
Objectives
- Speeding up invoice processing operations
- Preventing payment delays and double billing
- Improving efficiency of audit operations
Results
- Reduction of a 2 hour task to 10 minutes
- Enhanced compliance
- Increased motivation of accounting team
The Customer Success team accompanied us
patiently and attentively
[ Interviewees ]
Managing Director / Mr. Kimiya Shibazaki
Accounts & Finance Lead / Ms. Jenny Chuah
Accounts & Finance Manager / Ms. May Chai
Huge amount of invoices were being processed manually,
causing payment delays and double billing.
– Managing Director Mr. Kimiya Shibazaki
Business Description
Mr. Shibazaki: Good Job Creations (Singapore) Pte Ltd. is a Japanese company based in Singapore that specializes in talent recruitment, personnel dispatch, and work visa application services. The company is a subsidiary of Will Group Inc., a comprehensive human resources service company headquartered in Tokyo, and became part of the group in 2011 through the acquisition of its predecessor local company.
Initially, the main focus of our business was on talent recruitment. However, since I took on the role of Managing Director in April 2018, we have expanded our operations to include personnel dispatch services. The Japanese talent recruitment market in Singapore is relatively limited in terms of scale, and I strongly believe that businesses should always aim for expansion, and I am convinced that this not only benefits the company but also contributes to the growth of its employees.
The Situation before the
Implementation of Bill One
Mr. Shibazaki: I receive 30 to 40 invoices every month, each requiring my signature as the final approver. It had become a daily routine to open each of these files and verify their contents. However, as the company grew, our operations became more complex, and it became increasingly common to encounter cases where it was difficult to fully understand the specific contents of the invoices based solely on the invoice files.
There were instances where it was not immediately clear what the invoices were for. In order to understand the contents, I had to open a number of related files. In addition, many tasks such as attaching and sending these files by email after signing, which was a lot of manual processing, leading to unnecessary effort and time consumption.
Problems that Need to be Solved
Ms. Jenny: The situation was no different for us in the accounting department. We faced the significant challenge of finding a way to manage the immense amount of time required for invoice processing. This was our primary concern at the time. We received invoices from suppliers every day to a dedicated email address. The accounting team had to scan each of them and upload them to the database, which was already a significant task. Due to constraints in time and resources, we couldn’t perform thorough checks on the contents.
As a result, delays in processing led to payment delays, overpayments, and in some cases, even double counting of the same invoice. The accounting team repeated the verification process every time they received an invoice, however it was time consuming and there were still occasional oversights. The challenges continued to accumulate.
Mr. Shibazaki: There are generally various approval processes in place before payment is made when purchasing goods or services and receiving invoices from the supplier. Approvals from department heads and managers are sought, and discussions and verification processes are carried out within each department. However, prior to the implementation of Bill One, this entire process was mostly invisible. There was no means of verification. The phrase “I have obtained the manager’s approval” was the sole basis for the authorization process.
Processing invoices, which used to take two hours, has been reduced to
10 minutes, leading to more efficient monthly financial closing operations.
– Accounts & Finance Lead / Ms. Jenny Chuah, Accounts & Finance Manager / Ms. May Chai
Outcome after
Implementation of Bill One
Mr. Shibazaki: The implementation resulted in a significant reduction in the time required for the invoice approval process. Prior to this, we used to spend approximately 1 hour on approval procedures twice a month, totaling 2 hours each month just to process invoices. However, after the implementation, this time was reduced to only 10 minutes, leading to increased efficiency in monthly financial closing operations.
As a Managing Director, it goes without saying that having this time freed up for other purposes was a significant benefit. It also relieved the stress associated with the verification process.
Another very positive aspect is the visibility of the approval process. For example, let’s say there is a certain purchase order. In the past, until a report requesting approval reached me as the final approver, I had very little knowledge of the process. I had no way of knowing if it was delayed somewhere along the way and even confirming this required significant effort. Through the implementation of Bill One, the process has become more transparent, and the issues were quickly resolved.
Visualization has also proven effective in resolving compliance issues. The lack of visibility into the approval process often led to improper expenditures and potential troubles. Bill One has helped nip these risks in the bud by providing visibility, allowing us to carry out our tasks with confidence.
Benefits for Accounting
Administration
Ms. May Chai: The most significant benefit for the accounting team was being freed from the task of scanning and uploading invoices. Since the implementation of Bill One, the invoices are automatically compiled into a database, allowing us to allocate more time to other tasks and reducing errors in our workflow.
Additionally, Bill One includes a reminder feature, which has been incredibly helpful. For instance, in the past, if a purchase request was not approved, the accounting team would have had to send individual reminder email to the person in charge of the purchase. Now, this work is no longer necessary. The system automatically sends a reminder and eliminates the possibility of communication lapses.
Ms. Jenny: There has been a significant reduction in administrative processes related to financial audits. Previously, we had to prepare and submit a huge amount of paperwork every financial year end. With the implementation of Bill One, these tasks have become entirely unnecessary.We now simply send the log data from Bill One to the external audit firm. This has greatly streamlined our work and allowed us more flexibility in our work.
Customer Service
Ms. May Chai: When we implemented Bill One, we were concerned about whether we would be able to use the system and whether we would receive sufficient support from Sansan. However, the Customer Success team accompanied us patiently and attentively until the system became well-established, which allowed us to use it with confidence.
Ms. Jenny: The Customer Success team conducted repeated presentations for internal purposes and provided individual consultations to ensure proper adoption. Furthermore, they gave detailed explanations to our clients, who are the issuers of invoices, regarding delivery methods and recipients.
Mr. Shibazaki: Another key factor for the smooth implementation was the Standard Operating Procedures, a manual created by Sansan. These are well-structured, easily comprehensible and contained sufficient information for everyone to understand, including details on payment processing methods and approval procedures. The design of Bill One itself is simple and easy to customize further facilitated its adoption within our organization.
The changes including the introduction of Bill One
have made our company a more resilient organization.
– Managing Director Mr. Kimiya Shibazaki
The COVID-19 Pandemic and
Future Business Development
Mr. Shibazaki: The COVID-19 pandemic which escalated in 2020, had a profound impact on the Singapore market.Since the stay-at-home restriction measures (circuit breakers) were put in place, which led to a sharp decline in the revenue of the talent recruitment industry, we have faced the most significant crisis since our founding. However, even amid these challenges, we take pride in the fact that we were able to pay salaries to all our employees without resorting to pay cuts.
This achievement was made possible from subsidies from the Singaporean government and the cooperation of our business partners. Among these factors, we believe our salesforce played a significant role by focusing on long-term prospects rather than short-term gains. During the uncertainty of not knowing what tomorrow would bring, each employee fully demonstrated their capabilities.
What strongly supported these efforts from behind the scenes was a significant transformation of our operations, including the implementation of Bill One. This involved a thorough review of inefficiencies and cost reductions. These changes have made our company a more resilient organization. We have now established a structure to actively explore future business expansion.
