Logo of Doverie Pension Assurance

Cutting month-end close down to days at Doverie Pension Assurance

Doverie, one of Bulgaria's largest pension insurance companies with over 1.2 million clients, was founded in 1994 and operates 50 offices nationwide. Part of the Vienna Insurance Group, a major player in Central and Eastern Europe, Doverie is committed to high regulatory standards for transparency and accountability. Here's how Payhawk supports that effort — and more.

HQ
Sofia, Bulgaria
Industry
Financial Services
Employees
300+
Using Payhawk since
2024
Features they love
  • Corporate cards with built-in spend policies
  • Process automation
  • Custom fields for categorising spend
Photo of Ivo Zaharieff, CFO, Doverie

“Efficiency in our accounting department increased dramatically… tasks that previously required three people are now handled by one. Month-end closing, which used to take weeks, now takes just a few days. Accountability and discipline have greatly improved, too!”

Ivo Zaharieff, CFO, Doverie

Life before Payhawk: Overwhelmed accounting teams and paper-based processes

Before Payhawk, Doverie managed business expenses through a complex, paper-based system. Each office maintained its own petty cash, requiring ongoing updates to cash logs, daily tracking of cash balances, and strict compliance with national regulations.

As CFO, Ivo Zaharieff explains:

The main burden fell on our accounting colleagues, who were constantly tied up with manual processing. Invoices and receipts were all on paper, which made control, traceability, and efficiency really hard. It increased the risk of errors, slowed down month-end closing, and consumed far too many human resources.

Transparency and traceability were also a top priority for the business; the old way of working just wasn’t cutting it, and Ivo and his team knew there must be a better way.

SAP & Payhawk: Assuredly good fit

When the team came across Payhawk, they were immediately impressed by its ability to work with their chosen ERP, SAP, without requiring a major IT project.

At Payhawk, our flexible export templates made the connection fast and efficient and helped the team fully connect their expenses and the ERP for complete spend visibility.

“Thanks to the upfront configuration and full synchronisation with our chart of accounts, we can now say our financial reporting is almost fully automated. Data is exported directly in a SAP-compatible format, significantly reducing processing time and the need for manual input from accountants,” Ivo describes.

Our ability to adapt quickly to the company’s specific needs was key, and Miroslav Marinov, CEO, Doveri, saw results rapidly, explaining:

Photo of Miroslav Marinov, CEO, Doveri

"Controlling business spend isn’t just a cost-saving tool - it’s a trust-building tool. Trust between teams, between employees and leadership, and between our company and the regulator. With Payhawk’s built-in features — spend limits, approvals, categories — we manage spend by project, team, and even individual employee. That helps us make faster, more informed decisions and saves dozens of hours every month that were previously lost in document processing."

Miroslav Marinov, CEO, Doverie

Total corporate card controls & faster reimbursements

With over 300 employees across Bulgaria, Doverie depends on clear rules and complete control when it comes to company spending. At Payhawk, finance teams can fully configure corporate cards with specific policies and spend limits by role, department, or project, which is exactly what the Dovier team has done.

Now they have total confidence that expenses are under control, even before they’re made.

“The ability to apply different rules by role, department, or project enables better control and transparency. It also supports a strong financial culture; employees know what’s expected of them, and approvals happen quickly and clearly,” Ivo says.

Beyond card policies, the team loves the following card & expense features:

  • Easy receipt and invoice capture (and chasing) via the mobile app
  • OCR technology that extracts data from documents in seconds
  • Digital expense reimbursement requests (submitted by employees)
  • Custom fields for categorising expenses based on the company’s internal criteria
  • Real-time visibility and control — a major asset for management

The result? Faster processes, fewer errors, and much greater transparency.

Get complete expense control with Payhawk's cards

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Smarter control, faster month-end, and first-rate service

CFO Ivo Zaharieff highlights automation's significant role in transforming Doverie's operations. By automating routine tasks, our solution has reduced manual data entry and improved coordination between teams.

CEO Miroslav Marinov adds:

"Platforms like Payhawk have helped us automate key processes tied to spend and reporting. This change has optimised our team's time, while also enhancing the speed, transparency, and traceability of every financial transaction."

The impact has been clear. Within just a few months, Doverie dramatically streamlined its accounting operations, achieving:

  • Faster month-end close: What used to take weeks, now takes just a few days
  • 3X more efficiency: Tasks that previously needed three people are now handled by one
  • Complete real-time spend visibility and improved accountability

And while the above has been critical, Ivo flags that it's also the people behind Payhawk that stand out. "The Customer Success team at Payhawk offers timely advice, helping with integrations and updates. It feels like a true partnership, not just technical support."

"Our accounting team's focus has shifted. Now, they don't worry about admin but can concentrate on analysis and control instead."

Ready to take the next step in your own finance transformation? Book a demo today and discover how Payhawk can help.

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