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CASE STUDIES

How Firebolt Is Using DOKKA to Streamline Their AP While Scaling Their Company

Company

Founded in 2019, Firebolt is a cloud data warehouse for modern data engineering & development teams, with offices in the US, Germany, Ireland and Israel. Their innovative platform delivers sub-second analytics over hundreds of terabytes of data and they cater to the specific needs of small companies that are developing data applications. 

Firebolt is grounded in latest research in the field of big data analytics, which enabled them to create the world’s most powerful cloud data warehouse and offer it as a service. 

The company is on an exciting journey to disrupt the big data market and is experiencing incredibly fast growth. As a matter of fact, they closed their Series C funding at a $1.4 billion valuation, just 3 years since getting founded.

Company
Challenge
Solution
Biggest Wins

Quick facts:

130 employees
4 business entities (US, Germany, Ireland and Israel)
4 people in the finance team (1 AP department)

Challenge

Firebolt’s finance team is small, but powerful — it consists of the VP of finance, a financial controller, system controller, staff accountant, and several external bookkeepers. 

They are running their finance operations on NetSuite, which they claim is notoriously slow when it comes to processing speed, document archiving and general AP management. 

With only one person in-house responsible for operational accounting work, Firebolt needed a system that will function as an add-on to NetSuite and provide them with a “dashboard view” of all companies (centralized AP), giving them the ability to easily review the work of external bookkeepers and control that all the data is correctly booked and aligned. 

Being a tech company, Firebolt knew that the solution lies in third party software that would help solve this issue and increase productivity of their small team, but also allow them to scale quickly. They started their hunt for an AP automation solution and decided on DOKKA. 

“If I didn’t have DOKKA it would be really difficult to book all the invoices in due time, because NetSuite is slow and uploading invoices takes time. Since DOKKA is pulling invoices from the email automatically and uploading them for you, you only have to review the input that’s coming in. Not to mention that managing multiple companies can get challenging, so having a birds-eye view inside DOKKA helps a lot.”

- Shlomi Birukov, Staff Accountant at Firebolt

Solution

As a cloud-based accounting automation solution that integrates directly with Netsuite, DOKKA enabled Firebolt to amplify NetSuite with faster processing, digital archiving of documents, and a completely centralized AP. 

Today, Firebolt uses DOKKA to capture and process 80-120 invoices a month. They have a well established workflow between DOKKA, NetSuite, external accountants and all business entities.

Their external accountants use DOKKA to book supplier invoices and to collaborate and communicate with the in-house team. DOKKA is just the right tool to support Firebolt’s dynamic growth, and will be there to seamlessly support the further scaling of the business.

“DOKKA is really fast at coding invoices, and the ability to drag and drop text is insane. You don’t waste time on manual work and it’s faster than NetSuite. We’re all about saving time, so DOKKA allows me to save time on repetitive work and focus more on high level areas.”

- Shlomi Birukov, Staff Accountant at Firebolt

Biggest Wins

AP Efficiently Managed By Just One Accountant

DOKKA enabled Firebolt to scale while just having one person in the accounts payable. DOKKA captures invoice data automatically within seconds, and eliminates manual and repetitive work across all AP tasks and processes.

Duplicate Invoices Automatically Removed

One of the key benefits of using DOKKA is its ability to automatically detect and remove duplicate invoices. This feature saves time and ensures that the same invoice is not accidentally recorded multiple times, which can lead to overpayment.

Centralized Accounts Payable

DOKKA allows Firebolt to centralize the management of all their business entities in one cloud-based platform. The system automatically collects invoices from multiple email inboxes and streamlines them to a single location for easy upload into NetSuite.

Streamlined Communication With External Bookkeepers

The chat feature inside DOKKA lets you communicate directly with other members of your team over specific documents. Once you send someone a message they get automatically notified via email. This is another favorite of Firebolt as it allows them to easily communicate with external team members.

“DOKKA is the future of bookkeeping. Like your own digital clerk. So either DOKKA will dominate the market, or there will be copycats that’ll try to do the same. When you start using it, you start seeing the bigger picture and when I see DOKKA — I see the future of finance.”

- Shlomi Birukov, Staff Accountant at Firebolt

Building The Future of Finance

We’re giving finance teams their time back so they can do what they do best — use their judgment to grow companies. See how DOKKA can help you speed up your accounts payable by 80% in just 2 weeks.

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