Embarking on a journey into the digital age, Coconut&Co epitomizes the evolution of a traditional business embracing modernity while preserving its timeless values. With a commitment to innovation, Coconut&Co recognized the need to streamline operations and enhance efficiency to stay competitive in an increasingly digital marketplace. Guided by a forward-thinking vision, the company embarked on a transformational partnership with Lark, aiming to overcome various challenges and propel its business into the future.

"We're dedicated to staying ahead of the curve, welcoming fresh ideas and fostering innovation. By embracing cutting-edge technology and software, we continually improve our products, service delivery, and backend processes." - Kelvin Ngian, General Manager

Challenges

• Lack of Visibility and Traceability: Coconut&Co struggled with fragmented processes, hindering visibility and traceability across production, inventory, and delivery. Manual data entry and scattered communication channels led to inefficiencies and errors.

• Data-Driven Supplier Pricing Analysis: Absence of a data-driven approach to analyzing supplier-quoted pricing hindered Coconut&Co's ability to optimize costs and make informed decisions.

• Finance Workflow Complexities: The finance department faced challenges reconciling deposits, processing claims, and managing paper-based approval workflows, resulting in delays and inaccuracies.

Solutions

Enhancing Production, Inventory, and Delivery Processes

Coconut&Co embraced Lark Base, revolutionizing its operations from production requests to final delivery.

By leveraging Lark Base forms, the company simplified production requests and quality control processes, bidding farewell to the inefficiencies of tracking orders through scattered WhatsApp chats.

Production requests now take just 5 minutes, down from 30—an 83% improvement!

Sales support now efficiently specifies dates, items, and quantities digitally, ensuring seamless communication and alignment across teams. Lark Base automates alerts before production, ensuring adherence to quality standards by prompting workers to submit vital details like the product's expiry date with accompanying photos, minimizing errors and boosting efficiency.

Transitioning to inventory management, Lark's real-time alerts replaced the challenge of tracking stock movements via WhatsApp, fostering seamless communication and enabling swift actions. The inventory team now receives immediate notifications on stock movements, coordinating efficiently with drivers for pickups and ensuring accurate stock management.

Lark's gallery view for stock checks replaces antiquated methods that rely on manual data entry, which is susceptible to errors. These errors can distort inventory records, leading to discrepancies in stock levels and potentially impacting decision-making processes. Unlike the traditional method of transcribing information from paper to Excel, which increases the risk of typographical errors, omissions, and inaccuracies, Lark's visual inventory management minimizes these risks by providing a more efficient and accurate alternative.

With this new process, stocktaking becomes more mobile, cutting the time required from one hour to just 30 minutes

"As someone managing multiple responsibilities, discovering a comprehensive tool that simplifies my daily tasks and boosts my productivity has been a game-changer. I cannot overstate the impact Lark has had on our work and communication within our organization. It's like a breath of fresh air amidst the plethora of business tools out there. Lark has streamlined our workflow and significantly enhanced productivity." - Nayeem Nisa, Quality Control Manager

Optimizing Supplier Pricing Analysis

Innovating further, Coconut&Co took a decisive step by integrating Lark forms into its procurement process to revolutionize supplier pricing analysis. Prior to this initiative, the company grappled with inefficiencies in analyzing supplier quotes, relying on disparate communication channels like WhatsApp and email. This fragmented approach lacked a data-driven foundation, impeding their ability to discern pricing trends and secure favorable deals.

The team no longer waits a day or chases suppliers for price changes.
A process that takes a day now only takes 10 minutes.

However, with the adoption of Lark forms, Coconut&Co centralized communication, enabling suppliers to directly submit quotes through a unified platform. This streamlined process facilitated the storage and analysis of historical quote data, empowering the procurement team to gain valuable insights into pricing trends.

As a result, Coconut&Co enhanced its negotiation capabilities, yielding significant cost savings over time and reinforcing its competitive position in the market.

Streamlining Finance Processes

Coconut&Co's commitment to innovation extended to its finance department with the implementation of Lark's solutions. By digitizing processes and eliminating manual workflows, the company achieved greater efficiency and accuracy.

Drivers now submit cash received through Lark forms, simplifying the deposit reconciliation process. Lark's automation identifies any discrepancies between the deposited amount and the expected revenue, generating alerts for management review.

Additionally, the transition from paper-based approval workflows to digital solutions streamlined expense claim processing. Employees now submit claims through the Lark Approval app, attaching receipts for approval. Once submitted, approvals are automatically synced to a centralized document for reporting and analysis, providing transparency and accountability.

"The ability to access financial data and reports directly within the Lark interface has been a big improvement for our team. No more switching between multiple applications or digging through endless folders to find the information we need. With Lark Base, everything is centralized and easily accessible, saving us valuable time and effort." - Bea, Finance Manager

This digital transformation not only reduced processing times but also improved accuracy, ensuring that financial operations run smoothly and effectively.

Conclusion

Through its partnership with Lark, Coconut&Co has embraced an ongoing innovation approach to enhance its current processes and drive business success. By streamlining production, inventory, and delivery processes, optimizing supplier pricing analysis, and streamlining finance operations, Coconut&Co strengthens its competitive edge in the market while staying true to its traditional values. As the company continues to evolve and adapt in the digital age, the partnership with Lark remains integral to its ongoing success and growth.