A Tailored Solution to Help Solve Kiton’s Needs
Learn how this luxury apparel brand is saving time and reducing accounting errors by digitizing its back-office processes with Chase Cashflow360SM.
Angelo Macri describes joining Kiton in May 2018 as a “dream come true.” With experience working in apparel and fashion, Macri—who was promoted to COO this past April—said the company’s reputation was second to none, living up to its motto, “The best of the best plus one.”
Since its founding in Naples, Italy in 1968, Kiton has grown into an international luxury apparel brand with more than 40 stores in 15 countries, including a US headquarters in New York City, and more than $50 million in annual revenue. As Kiton continues to expand into new markets around the world, the company remains dedicated to preserving its tailoring techniques and secrets through a unique in-house approach.
Every three years, the Kiton Tailoring School accepts a class of 18 new students who train in Naples. Most of the school’s graduates go on to work for Kiton as some of the many tailors who handcraft each suit the company produces, ensuring a personal touch in keeping with its motto.
As for the company’s motto, “It’s been true since I joined the company,” Macri said. “I immediately realized the quality of the garments; our tailorship is unique.”
Improving the Back Office
Upon joining Kiton, Macri realized that improvements could be made in its accounting department. He contacted his banker, who informed him of Chase Cashflow360SM. It was a new solution developed in partnership with Bill.com and integrated directly into the Chase Connect® platform, which Kiton was already using for digital cash management.
“Accounts payable was a little bit of a mess. Since we started using Cashflow360, it’s definitely more organized,” Macri said. “I was really excited because it’s easy to use and easy to manage.”
Cashflow360 is a solution that helps simplify cash management by allowing users to manage all bills, invoices and payments electronically from one portal.1 It automatically syncs with pre-existing accounting software, eliminating time-consuming and error-prone duplicate data entry, and can help clients evolve from clunky paper-based methods.
Macri currently sends upwards of 20 payments per month, an amount he expects to increase as the company continues to expand. Before implementing Cashflow360, it was difficult to keep invoices organized. Now, Kiton is able to receive digital invoices directly through Cashflow360 and scan in any paper invoices. Once processed, Macri can track payments with real-time status updates.
“We are absolutely saving time and reducing errors,” Macri said. “Cashflow360 flags potential errors—like if I forget to put in the vendor, amount or invoice number. So we love those controls.”
Clearing Up Confusion
Client service is an integral component of Kiton’s brand, with its tailors spending hours handcrafting the garments it produces. So Macri appreciates helpful customer support when he seeks it out. With a dedicated service staff, Cashflow360 offers various support channels for users to reach out via chat, email and request to call.
“We were having some problems with our previous vendor and there was too much confusion,” Macri said. “Now, any time we have any questions, we use the chat function on Cashflow360, and we’ve always received great service.”
1 Terms, conditions, limitations and fees apply as set forth in the legal agreement governing the Chase Cashflow360SM service.
Chase Connect is a registered trademark of JPMorgan Chase Bank, N.A. JPMorgan Chase Bank, N.A. is a wholly-owned subsidiary of JPMorgan Chase & Co.