DocsInBox, an international e-invoicing and procurement company, has made a strategic entry into the UAE’s F&B sector with a recent capital injection of $500k aimed at digitalising procurement processes and reducing operational costs for restaurants by 5%.
The initiative is supported by undisclosed investors who are keen on fostering technological advancements in the HoReCa (Hotel, Restaurant, Cafe) sector.
DocsInBox offers a sophisticated e-invoicing and procurement platform designed to streamline operations within the HoReCa sector. The system allows purchasing agents to complete orders in just three clicks, and accountants to process transactions in 13 seconds—dramatically down from the usual 300 seconds. This efficiency gain not only optimises staff allocation but also significantly curtails manual labour by 15%, allowing restaurateurs to concentrate more on customer service and less on backend operations.
The newly acquired funds are earmarked for enhancing the platform’s capabilities, including the integration of supplier invoices directly into restaurant POS systems and accounting software. This integration promises to fortify financial control and support restaurants in managing food costs more effectively, which is critical for profitability.
DocsInBox is poised to make a substantial impact on the UAE’s digital economy initiative. By automating and refining the procurement and invoicing processes, the platform contributes to a broader national project aimed at establishing a more interconnected and efficient digital infrastructure within the F&B industry.
DocsInBox Head of Growth and Strategy Kshitij Saxena emphasised the transformative potential of the platform: “DocsInBox is an all-in-one purchasing solution fundamentally changing restaurants’ operations. It streamlines workflows, minimizes manual work for faster processing, and reduces operational costs by 5% and food costs by 8%. In general, DocsInBox saves up to 1,000,000 monthly hours in invoicing and procurement. Our recent research found that the UAE restaurants are looking for the DocsInBox solution, and we’re happy to enter the market.”
Keep up with all the latest FinTech news here
Copyright © 2024 FinTech Global
