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How Uchu Wasi streamlined business operations with Banqup

February 8, 2024
minutes of reading

Welcome to Uchu Wasi's journey towards enhanced efficiency and seamless financial operations.

Uchu Wasi is a small food importer, wholesaler, and distributor based in Singapore. As a small business, it is vital for order processing and financial management tasks to be as efficient and quick as possible, so that the team has more time and focus on their customers. This is why Uchu Wasi chose Banqup, to efficiently handle their administrative and financial tasks, freeing up valuable time for the business to concentrate on its core operations.

Take a look at the challenges the business previously faced, and the benefits they now enjoy because of Banqup’s easy to use solution.

What challenges did you face before using Banqup?

One major challenge we encountered was the frequent misplacement of invoices by kitchen staff at restaurants. As our industry is very busy, kitchen staff are often dealing with orders and goods, and invoices can often be lost in this quick process. This issue then creates extra work for both us and the restaurants.

Even though we use an ERP to also deliver invoices by email, there still is a challenge. Without a standardised inbox, customers can often miss our messages and invoices.

How did Banqup provide you with a solution?

Discovering the InvoiceNow (local Peppol network) initiative in Singapore was a turning point for us. InvoiceNow provides many businesses with a standardised framework for sending and receiving invoices, which can tidy up the whole invoicing process. We were very happy about having just one single standard for e-invoicing (Peppol) across Singapore, avoiding the complexity of having competitive technologies coexisting at the same time.

We knew we needed a partner who could connect to Peppol and also our ERP system (Openbravo). Banqup emerged as the ideal solution, providing a simple and cost-effective API to seamlessly transmit and manage our transactions within the Peppol network, while also connecting to our existing ERP system.

How was the implementation process with Banqup?

The implementation was remarkably straightforward. Developing scripts to extract transactions from Openbravo and utilising Banqup's API for invoicing, completely streamlined our operations.

Within just seven days, the first set of scripts was released, with subsequent enhancements over the next four months.

How are you using Banqup in your day-to-day activities?

We currently use Banqup on a daily basis, mainly through the API. Sometimes we access the portal to make some manual editions, but more than 90% of our interactions are via the API.

One of our main motivations for writing an interface between Openbravo and Banqup was that our group has several businesses using Openbravo as their ERP, so we were expecting to eventually need e-invoicing software for some of these other businesses too.

Fast forward to today, only five months after the initial work, and we are already using Banqup via the API in four of our companies in Singapore.

What results and benefits are you seeing with Banqup?

Banqup has proven to be a valuable asset for our business. The solution has transformed our approach to invoicing and streamlining our operations, which is vital for any small business.

While it's challenging to quantify some of the results, we can estimate a significant reduction of at least 50% in ad-hoc reconciliations and account statement requests. But what is most important, is that we no longer need to request extra admin work from our customers, instead we have the time to focus on growing relationships and the business.

For businesses with digitalised transactions, accessing the Peppol network via Banqup's API is a seamless and efficient way to standardise invoicing processes.

We imagine that there will be further benefits, especially as the adoption of electronic invoicing becomes more widespread in Singapore.

Try out Banqup today and start seeing the streamlined results

If you are a small business that would also like to streamline your financial processes, than Banqup is the perfect solution for you!

Banqup is a global solution, with a local flavour. In Singapore, Banqup connects to the InvoiceNow network, allowing businesses to easily exchange electronic invoices.

Getting started with Banqup is easy. Simple head to our sign-up page and try the Banqup solution for free!

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