The Black Hole Group is a Singapore-based collective of lifestyle brands specializing in artisanal restaurant concepts. 

‍

The Black Hole Group’s objectives

The Black Hole group operates multiple brands and outlets, requiring a strong focus on day-to-day operations to ensure seamless service and quality. In the midst of Covid-19’s dining restrictions, the company experienced budget constraints and needed to find a scalable solution to support their finance and administrative workloads. With the budget re-allocated from Headquarters to restaurant operations, they sought a lean and efficient solution to manage these processes without additional headcount. 

‍

The specific requirements identified by The Black Hole Group included:

• Seamless processing of sales reports across 14 restaurants, split by payment methods and sales categories in Xero, with the relevant tax rates applied. 
• Streamlining the extraction and processing of supplier invoices.
• Receiving comprehensive guidance and support for a successful rollout across all outlets following the implementation of fileAI at their flagship store.

‍

The fileAI Solution

The Black Hole Group leveraged fileAI’s AI-driven solution, enabling The Black Hole Group to fully automate accounts payable and sales. 

‍

“Ever since fileAI was introduced, it has become a cornerstone for our finance and accounting teams. We’ve built in the SOP to rollout fileAI for every new restaurant concept, and it has become our bread and butter.”

- Muhd Fadil, Commercial Director

‍

Results Achieved with fileAI

Following the introduction of fileAI, The Black Hole Group experienced significant improvements in operational efficiency:

‍

• ~$120K/year was reallocated from finance and accounting headcount, which instead went to spending on growing their business in the midst of Covid-19.
• The team processes ~800 files monthly with fileAI, resulting in a time savings of approximately 70 hours each month.
• Enhanced accuracy, precision, and speed in invoice extraction.
• Efficient deployment of fileAI across 14 outlets, with the set up of each outlet done in one day.

‍

Looking to start automating your company's accounting and finance workflows? Sign up and try fileAI for free.

‍