DocsInBox, a globally leading cloud-based accounting, invoicing and procurement solutions company, is gearing up for a major expansion in the Middle East region, with plans to revamp the region’s f&B (food and beverages) sector with an advanced automation process.
The company is aiming to help the region’s hotel, restaurant and catering (HoReCa) sector to save one million man hours per month, with its e-invoicing and procurement solution streamlining everything from document management to ordering to invoice processing within seconds.
The Saint Petersburg, Russia-headquartered company claims to reduce the restaurants’ operational costs by five percent and more with its cloud-based automation of electronic document management processes.
“By automatically posting supplier invoices and offering precise control over ingredient pricing, DocsInBox reduces manual work by 15 percent and optimizes staff allocation, thus allowing restaurants to focus on delivering exceptional experiences,” Kshitij Saxena, Head of growth and strategy at DocsInBox, told Arabian Business.
“Our platform lets a purchasing agent send the order in just three clicks, while an accountant spends just 13 secondsto process it, instead of 300 seconds for manual process,” he said.
Saxena said the company, which commenced its Middle East expansion plans with entry into the UAE early this year, intends to emerge as a key player in the UAE’s digital economy drive, with its e-invoicing solution changing the way units in the country’s f&b sector operate.
He said over 12,000 European and Asian restaurants have already trusted the company’s solution, and that it hopes to replicate the success in the Middle East as well.
Intends to shape the future of the digital economy in the region
The DocsInBox senior executive said the company wants to transform the restaurant industry, and thus wants to play a major part in shaping the future of the digital economy in MENA with its ambitious expansion plans in the region.
The company will do it by contributing to a broader e-invoicing system project in the region, he said.
“Our mission is clear: to power restaurant operations with real-time data, accurate insights, and time-saving automation to trim costs, cut waste, and boost profits across the F&B industry,” Saxena said.
Significantly, DocsInBox’s expansion into the Middle East comes at a time when the f&B industry in the region is projected to more than double to $43.98 billion by 2029 from the estimated $19.98 billion currently.
Saxena said DocsInBox’s all-in-one purchasing solution helps restaurants to fundamentally change their operations.
“It streamlines workflows, minimizes manual work for faster processing, and reduces operational costs by 5 percent and food costs by 8 percent.
“In general, DocsInBox saves up to 1,000,000 monthly hours in invoicing and procurement,” he said.
“Our recent research found that the UAE restaurants – as also restaurants in the region – are looking for the DocsInBox solution, and we’re happy to enter the market.”
Saxena also disclosed that prominent UAE restaurants like Cafe de Palma, Angel Cakes, Papa Dubai, and Frank by Basta already trust their solution.
To enter Saudi Arabia next
After the UAE entry, DocsInBox plans to foray into Saudi Arabia next in its planned MENA expansion.
The company is also learnt to have either struck or is in the process of entering into partnerships with major distributors in the Saudi market as part of its growth plans there.
Saxena, however, declined to name the partners, citing confidentiality reasons.
He also said the company is not immediately looking to tap investors in the Middle East for its proposed expansion.
“We have raised some funds just recently and that should be sufficient to finance our operations and [immediate] expansion plans in the region,” he said.
Saxena exuded confidence in DocsInBox achieving faster growth in the region, riding on wider acceptance of the company’s e-invoicing and procurement solutions by restaurants and hotels.
“Beyond mere operational efficiency, DocsInBox empowers restaurant owners to thrive in competition, establish robust financial control, and ultimately enhance their establishments’ overall success and growth,” he said.
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