About Rena Agric
Rena Agric is transforming Africa’s agriculture value chain through premium and innovative agricultural products and services, revolutionizing farming practices and fostering sustainable growth. They currently operate in Ibadan, Nigeria.
The Challenges
Rena Agric was facing challenges with the network service efficiency of their previous payment option. They often experienced service downtime, and this slowed down their business activities. They also found their approval workflow very manual and time-consuming within their team.
In the past, they managed approval within the team in this way:
- Accountant A and B send payment information to their line manager via WhatsApp or email.
- The line manager goes through all the information when he can
- Both accountants wait until their line manager can review and approve all the payment details.
This workflow prevented Rena Agric from completing crucial payments in time and impacted their business and relationships with their vendors. It also reduced payment visibility within the team and their payment reconciliation from month to month. They tried to be proactive by engaging traditional banks to better automate this process but it proved to be tedious.
With Duplo, they discovered a more simplified and time-efficient solution.
The Solution
How does it work?
- Each accountant on the Rena Agric team is given specific access based on their payment thresholds
- Management is notified about approval requests and payouts made on the Duplo dashboard via email
- Payouts are seamlessly completed according to the approval policies that have been set on Duplo
The Results
Accelerated payment flows
Their staff can now easily complete payments within their payment threshold using Duplo’s approval workflows
Reduced effects of service downtime
They experience fewer issues that stem from service downtime and are able to complete their payments within a quicker, more efficient timeline.
Better payment visibility
The dashboard has enabled more payment visibility within the Rena Agric team by making all their payouts easily trackable on one platform.
What’s next for Rena Agric?
Standing on the seamless and efficient service they have experienced with Duplo, Rena Agric is moving to introduce their existing vendor base to Duplo to further integrate and automate their end-to-end payment flows.
