Case Study: Tymit shortens month-end close to days with Precoro

How Fintech Startup Tymit Increased Visibility and Significantly Shortened the Month-End Close

Tymit, a fintech startup in England, needed better visibility and control over spending as it grew quickly and processed about 100 purchases a month. Before using Precoro, employees had broad purchasing freedom, which made it difficult for the finance team to track upcoming spend and keep approvals at the right levels. Tymit used Precoro’s purchasing and invoice management capabilities to bring more structure to its procurement process.

With Precoro, Tymit implemented purchase order and invoice modules, approval workflows, OCR, and integrations with NetSuite and Slack. The result was a much more transparent and efficient AP process: invoice handling became faster, payment statuses synced in real time, and month-end close was reduced from about a month to two weeks and then to just a few days. According to Tymit, Precoro significantly improved visibility and helped the team keep up with growth.

Tymit

Daniel Chen

Financial Analyst