Company Name: Daisy House Food
Location: Taiwan
Industry: F&B
Company Size: 120+
Partner Name: Bankersrounding (https://bankersrounding.com/en)
Apps Implemented: POS, Sales, Purchase, Accounting, Invoicing, Inventory, Expense, and more
Hosting Type: On-Premise
Founded in 2015, Daisy House Food is a popular chain restaurant in Central and Southern Taiwan, with the aspiration to bring top-notch Italian cuisine to the regions. Presenting its delicacies with a creative twist featuring local ingredients, the restaurant now welcomes diners in 6 locations in Kaohsiung, Tainan, Taichung, and Penghu.
Time-Consuming Management Overflown with Manual Tasks
Before Odoo, Daisy House Food used to manage its sales, expenses, and inventory on Google Docs Editor Suite. However, it still relied mainly on manual tasks and brought the chain numerous pain points.
Inaccurate Accounting
It required manual labor to migrate all transactions on its standalone POS system and purchase records to a Google Sheet for the restaurant's accounting partner to audit.
However, it was difficult to trace and identify the source of errors when there were discrepancies between the recorded data on Google and the information provided by the external accounting firm. This required extra time and effort to reconcile financial reports and purchase records.
With data stored in different locations without proper integration, Daisy House Food also found formatting and organizing the data for reporting purposes to be time- and resource-consuming.
Time-Consuming Reimbursement Process
Managing expenses was another pain point for Daisy House Food. Team members had to submit hardcopies of the receipts to the finance team to manually enter the reimbursement details at the end of each month, which added unnecessary administrative workload.
Complex Procurement Process
The company heavily relied on manual labor, storing all quotations, bills, invoices, and receipts in paper forms. Although the purchase orders (POs) were kept on the cloud system, the purchasing team had to manually review all quotations each time they needed to make a purchase.
Paperless Odoo Accounting Solution
Daisy House Food has implemented a full Odoo suite that contributes to a more efficient workflow when it comes to finance management, with the help of the Odoo partner Bankersrounding.
With Odoo POS, Expenses, and Purchase all integrated with Odoo Accounting, the company now enjoys much-streamlined finance management as all data is shared with the Accounting app in real-time, making for an accurate yet uncomplicated auditing process.
Odoo has truly been a great help to us in accounting with a significant simplification of accessing supplier records and accounting processes. Currently, our company only has one accountant, but they are able to manage voucher management, supplier payments, cash flow management, and audit the recording status of each store. They are also able to handle business tax reporting on their own. — Kiki, Accountant at Daisy House Food
Simplifying Frontend Operations
Through an application programming interface (API), Daisy House Food now connects its third-party POS system with Odoo POS, which synchronizes all sales and cash flow data daily on the Accounting app.
Streamlining Backend Administration
On Odoo Expenses, team members can scan their receipts to submit an expense report on the system. Managers will receive an email notification to approve the successful submissions within a few clicks. Once submitted, managers are notified via email and can easily review and approve the expense reports with just a few clicks. This streamlined process eliminates manual paperwork and significantly reduces the time and effort required for expense management.
On the Accounting app, the accountant can conveniently reference the approved expenses and include them in the team members' payslips at the end of each month.
With Odoo Purchase, price comparison analysis and PO creation have become significantly easier. All purchase history is recorded to save the team 90% of time on data collection and negotiation, enabling cost-effective purchasing decisions. Thanks to this, it also just takes a few clicks to create, verify, and send POs on Odoo, saving 40% of time on data cross-checking. After receiving the goods, the purchasing team can simply attach the receipt to the Purchase app to verify that the correct amount has been received.
Having each team follow their workflow processes in respective modules, Daisy House Food now has all data systematically centralized on Odoo Accounting, within which the analytical account feature allows for the easy creation of management reports based on different dimensions. Additionally, reports from different modules can be added to dashboards with real-time data updates, becoming important data indicators for management meetings.
With the help of our local partner, the company also implemented a localized feature that automatically generates business tax certificates in compliance with the official regulations to complete business tax declaration.
The Odoo solution reduces duplicate confirmation actions and saves 60% of time costs—what used to take the effort of two people can now be completed by just one person.
After implementing Odoo, we were able to view management and operations in the same system module, enabling systematic and modularized management of each process. This allowed us to standardize and streamline our processes, making them more SOP-oriented. In addition to its powerful modules, Odoo has also been localized to comply with Taiwanese tax regulations. It can adapt to different industries in Taiwan in terms of functionality and pricing. If you are also looking for an ERP solution for your company, I believe Odoo would be a great choice. —Jeff Hsu, General Manager at Daisy House Food
Daisy House Food
Daisy House Food Revolutionizes Accounting Efficiency and Operations with Odoo