Transforming Finance Operations in the Customer Services Industry: A Quadient AP Success Story
“The ability to trace transactions and data storage made Quadient AP a huge asset during audits.”
- Controller, Customer Services Company
In today's fast-paced business world, staying ahead of the competition requires efficient financial management. For one customer services company, the challenges of traditional payment methods and manual accounting processes impeded progress. However, with the introduction of Quadient AP, they found a solution that revolutionized their finance operations and propelled the business forward.
The Challenge
Before integrating Quadient AP into its financial workflow, the customer services company faced significant challenges with traditional payment methods. Our interviewee highlighted this, stating, "We were walking into a bank and getting them to print off bank drafts." This approach was time-consuming and inefficient. Recognizing the need for change, the company's finance department decided to explore automated accounts payable solutions.
Physical visits to the bank and manual data entries added five hours a month to the AP department's duties, taking time away from higher-value tasks. A slow approval process consumed additional time, and because the process was manual, the company had no way to monitor where invoices were in the approval process.
Without a centralized system, data was fragmented, meaning that there was no clear paper trail to follow during audit season. This made it difficult to ensure regulatory compliance.
The Solution
Having experienced the value of Quadient AP in a previous role, the interviewee was confident in the solution’s capabilities.
Quadient AP integrates with QuickBooks Online, the organization’s ERP. Unlike other payment solutions, Quadient AP provides the benefit of seamless bookkeeping and invoice line-level integration, making it an invaluable accounting tool for the company.
Customizable approval workflows ensure that invoices are routed directly to the appropriate employee, and reminders are sent until an invoice is approved and sent along for payment. Approval chains allow the company to efficiently manage approvals based on different hierarchical levels, ensuring compliance and control.
Comprehensive reporting capabilities allow the team to monitor the entire AP process, from the moment an invoice is received until it is paid. This enables leadership to identify bottlenecks in the process, and the improved transparency also delivers clear audit trails.
Describing Quadient AP to others in their industry, the interviewee highlighted the solution's audit trail feature. “The ability to trace transactions and data storage made it a huge asset during audits.”
The Results
- Saved five hours a month on AP processing
- Eliminated manual data entry and trips to the bank
- Streamlined approval process
- Created greater transparency, simplifying tasks during audit season and ensuring compliance
Quadient AP emerged as a game-changing solution for the customer services company, enabling them to leave behind the limitations of traditional payment methods and manual accounting processes. With its ease of use, seamless integration with their ERP; Quickbooks Online, and audit trail capabilities, Quadient AP offers a comprehensive and efficient platform for financial management.
By embracing automation, the company unlocked valuable time and resources, empowering its finance team to focus on strategic and high-value activities that propel the company forward.
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