Efficient accounts payable (AP) processes are critical for business services, and eliminating paper-based workflows can lead to significant improvements in productivity and internal controls. We recently had the privilege of interviewing a business services account that successfully implemented Quadient Accounts Payable Automation by Beanworks to achieve exactly that. Let's explore their experiences and the benefits they gained from the automation solution.
“We used to have a lot of paper. That's been the biggest help: now we have almost no paper other than the actual check we cut.”
Challenges
When evaluating Accounts Payable automation solutions, the business services account's biggest concern was dealing with paper-based records. The interviewee mentioned how "we used to have a lot of paper. That's been the biggest help: now we have almost no paper other than the actual check we cut." Quadient AP provided digital copies of invoices, eliminating the need for physical records and saving valuable space. The convenience of digital access empowered them to view invoices instantly, without searching for physical files.
Solution
Although data entry time remained similar, the business services account experienced significant time savings in the back-end process of searching through files. The interviewee mentioned how this process "was cut in half at least." Additionally, the automation solution allowed them to introduce a new approval step, enhancing their internal controls. Despite adding this step, the overall AP process time was reduced by 25%.
The transition from paper records to a paperless environment was the most significant change for the business services account. By eliminating paper records entirely, they achieved their goal of going paperless. The added benefit of a second layer of approval further strengthened their internal controls.
Results
Quadient AP empowered the business services account to focus on becoming more efficient and paperless, enabling them to concentrate on high-value activities. As the interviewee emphasized, "the biggest thing is our type list, because that's what we're trying to make paperless and more efficient. We're getting there."
When describing Quadient AP to colleagues in their industry, the interviewee highlighted their transformation to a paperless finance team, and the ease of adding extra approval channels. Our AP automation solution allowed them to customize approval workflows according to their needs, further streamlining their AP processes.
The success story of this business services account showcases the transformative power of Quadient AP. By going paperless and streamlining their AP processes, the account enhanced their internal controls, found significant time savings, and improved their overall efficiency. The ability to customize approval channels added further flexibility to their workflows. For business services companies aiming to enhance productivity and embrace a paperless future, Quadient AP offers an ideal solution to unlock growth and success.
Discover: Quadient AP Automation by Beanworks: A FocalPoint Business Solutions Success Story
