BY BANOO was founded by sisters Persheng and Perdica with a mission to empower women in leadership roles and promote gender equality through stylish, practical work bags. The global company has expanded from direct-to-consumer to wholesale with a strong presence in Sweden, Denmark, and the US.
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BY BANOO was founded by sisters Persheng and Perdica with a mission to empower women in leadership roles and promote gender equality through stylish, practical work bags. The global company has expanded from direct-to-consumer to wholesale with a strong presence in Sweden, Denmark, and the US.
BY BANOO has seen extraordinary growth since its launch in 2019, bringing their products to over 40 markets worldwide. With such growth and investment comes an increase in financial admin. As a small team, it’s crucial they use their time efficiently, and can’t afford to waste it on repetitive manual tasks.
“As a founder and CEO, I want to know the numbers and grow a profitable business,” says Persheng Babaheidari, CEO and Founder of BY BANOO.
But, the time spent on financial admin, especially manual processes to prepare their accounting, was becoming frustrating. Manually matching transactions to receipts using Excel and then uploading files to their accounting software Fortnox took up precious time.
“I need to analyse the numbers that count without spending time dragging files into a folder,” says Persheng.
After hearing about Juni on the Framtidens E-handel podcast and attending our Kitchen Commerce event in Stockholm, Persheng decided to join Juni.
“Accounting automation was a key reason I joined,” says Persheng. “I can save time preparing our transactions and also save money on our accounting firm.”
Accounting automation has been a significant time-saver for BY BANOO, allowing for better financial management. Features like multi-currency accounts and Juni Capital have streamlined operations, enabling more efficient cash flow management and saving money.
BY BANOO uses pre-accounting and our Fortnox integration to streamline financial tasks. Juni Match will also make the reconciliation process simple by automatically matching receipts and invoices to transactions before they’re prepared for accounting and then easily exported to Fortnox.
“I use pre-accounting to put in rules to easily record expenses,” says Persheng. “I’m all about automating repetitive tasks to save time.”
By automating manual processes and getting a clear overview of their spend, Persheng has saved valuable time on BY BANOO’s quarterly accounting.
“I used to spend two days preparing bookkeeping, but that has been reduced to half a day with Juni,” says Persheng.
Expense management has also been simplified by using Juni cards. BY BANOO uses paid marketing channels to grow the business, and it’s important to get a clear overview of where spend is going.
“Categorising different types of expenses is really helpful,” says Persheng. “I can label cards by performance marketing and brand marketing so I can keep track of our spend.”
Instead of paying for travel expenses on the go and waiting for reimbursement, Apple Pay has streamlined the process. It also removed the need to spend time facilitating reimbursements.
As a global business with their production in Europe, multi-currency accounts make it simple to handle BY BANOO’s spend.
“It’s really easy to create cards and accounts in different currencies,” says Persheng. “We have a lot of EUR invoices, and it’s really quick to pay the bill. I know I’m saving money, and it’s so smooth to transfer between currency accounts.”
BY BANOO also uses Juni Capital to bridge the gap between producing inventory and selling it, especially as they invest in their wholesale channels.
“Now that we have wholesale we need to invest in inventory and wait for payment until after delivery. It’s a great way to maintain our cash flow,” says Persheng.
BY BANOO plans to grow sustainably and profitably. With Juni making financial tasks efficient, they have the valuable time and boost in cash flow to make informed investments in the business.
BY BANOO was founded out of frustration that there were no stylish and functional work bags for business women. Each work bag is engineered for empowerment - every step of your career.
Modern banking. Real-time control. Juni is business banking, spend management, financing, and accounting on one powerful platform and app.
We minimise complexity so you can maximise growth. Gain complete control over business finances, put an end to manual processes, and even lower your running costs - all with a single login.