A recipe for financial success: How Planted weeds out growth blockers with Yokoy
- Last updated: October 24, 2023
Head of Customer Success, Yokoy
Swiss-grown Foodtech startup, Planted, has a success story as delicious as its plant-based meats. With one part curiosity, two parts drive, a dash of creativity, Planted was founded in 2019 and is now shaking up the traditional meat protein industry with sustainable, tasty as well as healthy plant-based meat products ranging from planted.chicken, planted.kebab to planted.sausage or planted.duck. All their products are produced using only natural ingredients, setting a new standard in this new category. Grounded by the vision of disrupting the protein space with foundational values of sustainability and humaneness, Planted’s growth has skyrocketed on an international scale – and by adding Yokoy to their internal tool mix, it’s only the beginning.
Company overview
Kemptthal, Switzerland
244 employees
Foodtech
Yokoy Invoice
Yokoy Expense
Yokoy Pay
11 entities live
Challenge: When spreadsheets don’t cut it
Even though Planted is firmly rooted in the Swiss market, its international footprint has raised some complexity around spend management. Before, the team relied heavily on paper-based manual processes and siloed software solutions for the P2P (procure-to-pay) and T&E (travel and expense) processes. Moreover, handling international invoices and receipts with a standardized and scalable approach became a veritable ordeal. Ultimately, inefficiencies in these cumbersome processes jeopardized the company’s scalability and hindered growth.
Solution: Scalable automation – one bite at a time
To mitigate these risks caused by inefficiencies, Planted came up with a strategic pivot towards streamlined spend management. It revolved around three pillars, namely scalability, flexibility, and an entrepreneurial mindset that responds innovatively to global demands for progressive solutions underpinned by Swiss quality. The company stood firm in creating a spend management framework that was both smart and flexible enough to evolve alongside its growth trajectory. It was Yokoy’s modular spend management suite that made the cut.
One of Yokoy’s standout features is its flexibility through an open API, which integrates seamlessly with Planted’s ever-expanding tech stack, which is something no other spend management solution can offer. It’s this type of agility that allows Planted to add or replace other software solutions and legacy tools with ease. More than this, Yokoy’s adaptability allows for swift rollouts to new countries and entities, making it a perfect spend management companion for Planted and its ambitious global aspirations.
Impact: Weeding out growth blockers
Planted now uses Yokoy’s entire AI-based spend management suite and processes thousands of invoices, expenses and card transactions in an automated and fully integrated manner. The finance team has managed to focus their work on analytics and strategic spend areas that contribute to Planted’s expansion, while the repetitive and manual tasks are handled by Yokoy’s AI.
“Together with Yokoy, we can now quickly and flexibly seize new growth opportunities. The spend management suite integrates seamlessly into our growing tech stack, and we can add new user licenses at any time as we attract new talent to Planted.”
While plant-based meats and a spend management suite don’t seem the likeliest of counterparts, it doesn’t take long to recognize just how much unites them; an entrepreneurial spirit with Swiss flavor, an appetite for innovation, and a hunger to grow far beyond what was ever thought possible.
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