by martieLast Updated : Dec-11-2023
Struggling with accounts payable automation?
We covered 6 real-life case studies for you to see how other companies use accounts payable automation to improve their invoice processing time, back and forth emails with stakeholders, and pay their vendors faster.
In this blog, we will explore how ProcureDesk has made a huge difference for 6 companies who are key players in their industry. We will talk about the challenges that Coast Flight, Elhogar, Indiana Beach, Cerebral Therapeutics, Quantus, and Funai have experienced before integrating ProcureDesk into their solutions.
Get ready to dive into how these companies solved their procurement challenges with ProcureDesk.
Accounts payable automation refers to using technology to automate your accounts payable process. This includes invoice capture, data entry, approval workflows, and payment processing.
There are quite a few benefits to applying AP automation within your company. To name a few, here are some of the benefits it brings:
Our software ProcureDesk aims to help small to midsize companies automate their accounts payable process and reduce the time they spend creating and matching supplier invoices with purchase orders.
We do this successfully, supported by our wide array of features:
In this section, we will share some of the success stories of companies we’ve supported along the way, to help them create a successful procurement process.
Coast Flight, a leading aviation training academy, has been instrumental in guiding aspiring pilots through rigorous aviation courses, offering a clear path to becoming commercial airline pilots.
Operating across three locations in the United States, Coast Flight faced challenges in managing decentralized purchasing processes, leading to inefficiencies and a lack of control over expenses.
Coast Flight’s decentralized purchasing model resulted in each location managing its supplies, documented in individual spreadsheets.
The accounting department struggled to gain visibility into these purchases, only learning about them upon the arrival of invoices.
Manual cross-referencing between invoices and spreadsheets became time-consuming, taking several days each month. CFO Kevin Slatnick highlighted the lack of control and tracking of purchasing requirements, creating a situational awareness problem for the company.
The manual process, utilizing spreadsheets and shared drives, further complicated matters.
Purchase orders were not consistently captured, changes were not reflected, and missing invoice information led to additional follow-ups.
The accounting team spent extensive time reconciling discrepancies, especially during the increased volume of invoices.
To address these challenges, Coast Flight seized the opportunity during the COVID-induced slowdown to enhance operational efficiencies.
Implementing ProcureDesk brought transformative change by centralizing the entire procure-to-pay process into one system.
Now, buyers across different locations utilize ProcureDesk for all purchasing activities, eliminating the need for manual spreadsheet updates.
The accounting team gains total visibility into all purchase order activities, and the approval process is fully automated. Budget owners have real-time insights into expenditures, ensuring no surprises upon invoice arrival.
The 3-way match process in ProcureDesk facilitates easy identification of invoice discrepancies, and the automated exception routing process streamlines approvals.
Syncing invoices with QuickBooks after approval eliminates manual data entry, saving considerable time for the accounting team.
The ProcureDesk implementation yielded significant results for Coast Flight.
The invoice process is now centralized, simplifying the 3-way match and exception routing. Invoices seamlessly sync with QuickBooks, eliminating manual entry and improving accuracy.
CFO Kevin Slatnick expressed the substantial time savings of 25% to 35% in processing invoices, a remarkable improvement for the accounting department.
This newfound efficiency allows the team to focus on strategic financial activities rather than laborious manual tasks, ultimately contributing to Coast Flight’s continued success in training the next generation of airline pilots.
Elhogar Community Services, a not-for-profit organization established in 1977, dedicates itself to enhancing individuals’ and families’ mental health and emotional well-being through a range of community programs.
With a mission spanning senior care to specialized mental health services, Elhogar is committed to positively impacting the community it serves.
Upon joining Elhogar in 2018 as Fiscal Director, Beatrix Koev identified the need for complete visibility into expenses.
With cost-reimbursement contracts in place, timely expense information was crucial for reimbursement. The manual purchasing process, involving requisition forms submitted via email, created transparency issues.
The Finance team lacked insight into approved expenses, leading to delays in reimbursement and inhibiting Elhogar’s ability to manage cash flow effectively.
Recognizing the cultural and technological challenges, Elhogar embarked on a journey to modernize its purchasing practices.
The priority was automating the purchase approval process, initially routing all approvals to the Directors and the CEO.
However, this caused a bottleneck at the CEO level. The process was refined to allow self-approvals by Directors, streamlining 80% of requests at the program level.
To further simplify requisition creation, ProcureDesk implemented catalogs for top vendors, facilitating repeat purchases.
Elhogar emphasized the importance of flexibility and simplicity in the ProcureDesk system, praising its ability to meet purchasing and ERP requirements without compromising ease of use.
Elhogar’s team highlighted the flexibility and ease of learning and implementing ProcureDesk, emphasizing the importance of providing detailed information during implementation for customized solutions.
Within 2-3 weeks, the purchase process system was live, providing the team with a streamlined approach to requisition creation.
The impact was significant: requisition creation time was reduced from 10-15 minutes to a few minutes. Real-time visibility into the status of purchase requests enabled a more efficient approval process, resulting in a reduction of over 50% in the approval cycle.
Elhogar’s team summarized the results as a clear oversight of monthly purchasing activities, speedy payables integration into the accounting system, and an audit-proof approval process.
Beatrix Koev concluded, “ProcureDesk has transformed our purchasing practices, ensuring complete transparency and regulatory compliance while significantly improving our cash flow management.”
Elhogar Community Services now stands as a testament to the successful integration of technology, cultural shift, and effective expense visibility in the not-for-profit sector.
Indiana Beach, a popular amusement park nestled in Monticello, Indiana, offers a diverse range of attractions, including campgrounds, rides, lodging, and dining facilities.
The facilities team plays a crucial role in the park’s operations by procuring various products and services, from hardware for ride maintenance to food supplies for dining facilities.
The challenge for Indiana Beach was gaining better control over cash flow, a crucial aspect during the park’s on and off seasons.
The manual process of creating paper-based purchase orders and obtaining approvals via email was time-consuming and hindered the team’s ability to manage cash flow proactively.
Andrea Page, Director of Finance, emphasized the importance of regularly staying on top of invoicing and monitoring cash flow.
The purchasing process at Indiana Beach faced scalability issues, with purchasing volumes varying significantly between the park’s off-season and peak season.
The manual creation of purchase orders, averaging 100 per month during the off-season and exceeding 200 per month during the peak season, was not conducive to efficient operations.
This led to productivity losses and posed challenges for the Accounts Payable team in matching invoices to purchase orders.
Recognizing the need for automation, the finance team turned to ProcureDesk to transition to an electronic purchase order process.
The platform provided complete visibility into purchasing activities, an approval workflow to control spending, and automation that significantly reduced the cycle time for issuing purchase orders.
The Accounts Payable team benefited from automatic invoice matching, which streamlined the verification process and allowed them to focus on cash flow requirements.
With ProcureDesk’s purchase order system, Indiana Beach achieved operational scalability and efficiency. The finance team transformed from a bottleneck to an enabler for the operations team.
The platform’s catalogs enhanced the user experience, enabling employees to make purchases seamlessly while providing the finance team comprehensive visibility into cash flow trends.
Andrea Page highlighted the platform’s impact on budgeting and planning, stating that ProcureDesk improved purchasing efficiency and facilitated better budget creation and cash flow control.
The team now possesses a complete picture of purchasing trends, allowing for proactive budgeting and planning for the future.
In conclusion, ProcureDesk empowered Indiana Beach to overcome cash flow challenges, streamline purchasing processes, and enhance overall financial control, positioning the amusement park for continued success in providing a memorable experience for visitors.
Cerebral Therapeutics, a clinical-stage biopharmaceutical company, stands at the forefront of innovation in developing therapies for refractory neurological diseases.
With a foundation built by neuroscience, neurosurgery, and drug delivery experts, the company pioneers intracerebroventricular (ICV) therapies for individuals with neurological diseases.
Leveraging their proprietary technology, ICVRx™, Cerebral Therapeutics is dedicated to bringing groundbreaking drug therapies and companion biomarker strategies to the market.
As a dynamic, venture-backed startup in the life sciences sector, Cerebral Therapeutics faced challenges common to many companies in their early stages.
The manual processes for generating purchase orders (POs) on Microsoft Word and Excel sheets for expense tracking proved cumbersome and error-prone as the company scaled.
The complexity of their spending, predominantly directed towards third-party vendors and service providers, demanded a more efficient and scalable solution.
Manual accounting processes were becoming increasingly untenable, and the lack of insight into spend analysis hindered the company’s ability to project future budgeting and manage cash flow effectively.
Recognizing the need for a transformative solution, Cerebral Therapeutics turned to ProcureDesk for procurement software that could automate its manual processes.
The core requirements included vendor-by-vendor cost analysis reporting over time, automated PO generation, order tracking, reconciliation processes, and integration with Xero accounting software.
ProcureDesk became the catalyst for streamlining day-to-day operations and providing comprehensive solutions to address the challenges faced by Cerebral Therapeutics.
The decision to implement ProcureDesk yielded significant results for Cerebral Therapeutics.
The once error-prone processes involving Word documents and Excel spreadsheets were replaced with streamlined, error-free ordering and reconciliation.
The software ensured reliability in the accounting processes, eliminating concerns about double or late payments due to inefficient reconciliation.
In conclusion, ProcureDesk was pivotal in helping Cerebral Therapeutics overcome manual process challenges, ensuring efficient and error-free operations, significant cost savings, and providing detailed spend analysis for informed decision-making in their mission to advance therapies for neurological diseases.
Quantus, Inc. is an ISO Certified Company, providing critical services to the Life Sciences Industry. Specializing in CALIBRATION, CERTIFICATION, ENVIRONMENTAL MONITORING, TECH-STAFFING, and VALIDATION Services, Quantus has consistently demonstrated its commitment to superior customer service and technical expertise.
Since 1998, the company excels in Compliance and Technical Services, serving clients adhering to FDA & ISO Regulations and Standards.
As a leading field service provider and laboratory testing services entity in the life sciences industry, Quantus, Inc. experienced substantial growth over recent years.
The doubling of its employee base and an 80% increase in the customer base posed significant challenges in spending control, expense management, and forecasting.
Once directly involved in day-to-day administrative accounting tasks, senior management found it increasingly difficult to track, manage, and control spending as the company expanded. The initial procurement system in place was quickly outgrown, necessitating a more robust and scalable solution.
Quantus recognized the need for a more comprehensive solution. They sought a system that supported real-time spending analysis, integrated vendor catalogs and punch-outs with vendors like Amazon.com, and seamlessly integrated with QuickBooks to prevent redundant data entry. Enter ProcureDesk.
The company embarked on implementing ProcureDesk, with ongoing support from the ProcureDesk team throughout the onboarding process.
The system’s quick implementation, seamless integration with existing systems, and user-friendly interface facilitated adoption by the accounting team, enabling them to use the system within weeks comfortably.
The impact of ProcureDesk on Quantus has been transformative.
The ability to delegate task-level accounting activities while maintaining oversight of spend control allowed Quantus management to focus on strategic planning and high-level financial activities.
The switch to ProcureDesk resulted in:
In conclusion, ProcureDesk has proven instrumental in empowering Quantus, Inc. to tackle the challenges of rapid growth, providing a scalable and comprehensive solution for spend control, expense management, and financial forecasting in the dynamic life sciences industry.
Funai Lexington Technology Corporation (FLTC) is a wholly owned subsidiary of Funai Electric Co., LTD., rooted in a legacy division of IBM and Lexmark.
Leveraging over 19 years of microfluidic design, application, and commercialization experience, FLTC is dedicated to designing and manufacturing a diverse range of products utilizing in-house microfluidic technology.
George Parish, COO at FLTC, faced challenges managing purchase requests and tying orders into the company’s QuickBooks accounting software.
The existing system relied on an Excel spreadsheet to create and track purchase requests, which were manually entered into QuickBooks.
This process became cumbersome, error-prone, and inefficient, prompting the need for a software solution that could streamline purchasing and accounting processes.
FLTC assessed various software solutions and found that ProcureDesk offered the integrations needed for comprehensive budget management within QuickBooks.
With ProcureDesk, FLTC empowered managers to approve requisitions and track budgets, facilitating smarter spending decisions, improving financial oversight, and reducing COO oversight. T
he ProcureDesk team provided hands-on setup support, enabling FLTC to offer real-time budget spend visibility to managers.
Since implementing ProcureDesk, FLTC has experienced a transformation in its purchase approval processes, transferring responsibilities to department managers. The results include:
In conclusion, ProcureDesk resolved logistical errors streamlined accounting processes for FLTC and influenced company culture around budget management.
The software has improved employee engagement, smarter spending decisions, and a more transparent and efficient financial ecosystem within FLTC.
Did you know that using AP Automation within your company can offer numerous benefits to your organization?
Apart from simply streamlining the processes within your payable department, AP Automation is more than what meets the eye!
Implementing AP automation can contribute significantly to operational efficiency, cost reduction, and improved financial management across various industries.
What Are Some Of The Most Common Accouts Payable Automation Solutions?
Here are some of the most common accounts payable automation solutions:
Without a doubt, these case studies show how ProcureDesk carries a transformative power to help companies across industries.
Challenges like manual processes, decentralized tracking, and paper-based systems can be solved using our comprehensive solution with a wide array of features that aim to bring organizations newfound efficiencies, accuracy, and sustained growth.
If you’re ready to create a resilient and forward-thinking future for your company, it’s about time you explore on the opportunities that AP automation tools such as ProcureDesk can bring your business.
What you should do now
Whenever you’re ready… here are 4 ways we can help you scale your purchasing and Accounts payable process.