Silkhaus

About

Silkhaus is Asia's leading technology-first hospitality brand, dedicated to providing immersive nomadic experiences for business and leisure travelers. With a commitment to exceptional local experiences, 24/7 support, tech-first solutions, and sustainability, Silkhaus redefines the concept of a "home away from home."

After raising an industry-leading funding of $7.75 million, Silkhaus plans to expand across South Asia, Southeast Asia and the MENA region, setting new industry standards for hospitality, consistently pushing the boundaries of what travelers can expect.

Silkhaus takes pride in its innovative approach to hospitality, leveraging cutting-edge technology to enhance the guest experience. With a growing portfolio of unique properties in vibrant destinations, Silkhaus continues to elevate the standards of modern travel.

The problem

AN OUTDATED EXPENSE MANAGEMENT PROCESS HINDERED BY TEDIOUS MANUAL TASKS

Before coming across Alaan, Silkhaus faced a significant challenge in managing their expenses efficiently. Their manual expense management processes were labor-intensive and time-consuming, providing limited insight into spending patterns. Ashwin, the Finance Manager at Silkhaus, shared their experience, stating:

"We used to collect invoices in a shared drive and reference them in a spreadsheet for our accounting department. Payments were made using bank-issued credit cards, limited to specific personnel within the company. This process was overwhelming and lacked efficiency."

The existing processes also led to delays in expense approvals and reimbursements, impacting the overall financial agility of Silkhaus. With a growing number of transactions and the need for rapid decision-making, the inefficiencies in their expense management became increasingly apparent.

The solution

AUTOMATED EXPENSE MANAGEMENT AND REMARKABLE TIME SAVINGS

Silkhaus realized the need to revamp their financial processes, eliminating manual administrative tasks that took up valuable time. With Alaan, the process of making payments became straightforward. 

"Straightforward approval chains, easy fund top-ups, transparent cost tracking, and centralized receipt management have saved us numerous hours each month in email exchanges and discussions. In fact, our accounting and finance teams have collectively reclaimed over 650+ hours each month thanks to Alaan."

Employees at Silkhaus now use their Alaan cards, equipped with spend controls set by the finance team. They simply make a purchase on behalf of the company, snap a picture of the receipt using the Alaan app, select a spend category, and the task is complete. There's no need for extensive paperwork or chasing employees for receipts. The OCR technology extracts essential receipt data, excluding the need for manual reconciling.

‍VALUABLE FINANCIAL INSIGHTS WITH ALAAN'S ANALYTICS DASHBOARD

One of Silkhaus' favorite features is the Alaan analytics dashboard, which allowed them to gain deep financial insights into their operations, Ashwin explained.‍

"The analytics dashboard has been a game-changer for us. It provided us with a clear view of our financial data, helping us identify spending patterns, cost-saving opportunities, and areas for optimization. With the dashboard, we could make informed decisions and drive financial efficiency."

This proactive approach empowered Silkhaus to continuously adapt and enhance their financial strategies, ensuring they remained agile and competitive in the dynamic hospitality industry.

FLEXIBLE CORPORATE CARD MANAGEMENT

Silkhaus had been repeatedly facing problems with corporate cards management. They relied on conventional bank-issued cards which came with little to no flexibility in terms of usability and administration.‍

"Before Alaan, we used corporate cards from a traditional bank, which made issuing cards and controlling limits and approvals a hassle. These bottlenecks often led to delays in making purchases, impacting overall operational efficiency."

Alaan provided Silkhaus with rapid card issuance, including virtual cards, ensuring that the team could maintain generous card limits. The built-in card control features, including approval workflows and spend limits, gave Silkhaus the flexibility they needed.

IMPACT ON EFFICIENCY

The results were clear: Silkhaus' adoption of Alaan brought transformative changes, with significant time savings and streamlined processes at the forefront.

"The biggest benefits we've experienced are the time saved and process simplification. Using Alaan has saved me between three and five working days each month."

Silkhaus' adoption of Alaan resulted in a streamlined financial workflow, significant time savings, and enhanced control over expenses, ultimately contributing to over 650+ hours of monthly time reclaimed by the accounting and finance teams.

If you like the sound of saving time, automating tedious processes, and taking control of spend, just like Silkhaus – then book a demo today!