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Coast operates across 3 different locations across the United States. Each of these locations has different purchasing needs. Each location purchases its own supplies to run the operations that include servicing and maintaining its fleet of planes.
With operations across many locations, each location was doing its own purchasing.
Each location would maintain its own purchasing records in spreadsheets.
The accounting department didn’t know about those purchases till the invoice showed up.
The centralized accounting department had to cross-reference incoming invoices with those spreadsheets.
“We spent several days each month trying to figure out where all these invoices went.” Kevin Slatnick- CFO Coast Flight
Due to the manual process, the team was spending a lot of time on processing invoices. Moreover, there was no control over who was purchasing what in the company.
“The problem we were looking to solve was a lack of control and tracking of our purchasing requirements. We had a situational awareness problem that we needed to control.” Kevin Slatnick – CFO Coast Flight
The manual process at Coast was a combination of spreadsheets and shared drives which the team used to process the invoices through the lifecycle.
The incoming invoices were kept in a shared folder which the team processed by matching each invoice to the orders in the spreadsheets.
If the team found the correct purchase order and amount, the invoice was processed.
But that was not always the case since all purchase orders were not captured in the tracking spreadsheet.
If the order was changed after placing the order, then that was not always reflected in the spreadsheet.
The accounting team would have to go chasing people if the purchase order number was missing on the invoice.
If the invoice amount didn’t match the purchase order amount then the team had to figure out the root cause.
“Buyers often didn’t keep the spreadsheets up to date and when an invoice would come in there wouldn’t be anything in the spreadsheet to match. The invoice would change and it’s a different dollar amount than you put in the spreadsheet.” – Kevin Slatnick – CFO Coast Flight
With the increased volume of invoices, the team was struggling to process invoices on time and often had to work weekends to ensure that the invoices were in for the month-end.
“My accounting department spent several days each month trying to figure out where all these invoices went.” – Kevin Slatnick – CFO Coast Flight
When COVID hit earlier last year, there was a forced slow down in operations due to lockdowns. It provided an opportunity for the team to focus on operational efficiencies.
Though COVID was not a welcome change, it did afford the team an opportunity to review the current processes.
With ProcureDesk implementation, we aligned the entire process from Procure to pay in one system.
The buyers at different locations now use ProcureDesk to do all their purchasing.
With a single system, there is no need to update the spreadsheets. The accounting team has total visibility into all the purchase order activity.
The approval process is completely automated.
Budget owners always know what is being purchased. There are no surprises when the invoices show up.
“With ProcureDesk I am able to see who is spending and the dollar amount associated with purchase” – Kevin Slatnick – CFO Coast Flight
The invoice process is now centralized so that all invoices come to ProcureDesk. With the 3-way match process, it is easy to identify any invoice discrepancies.
The invoice matching and exception routing process are completely automated. The accounting team does not spend time figuring out who needs to approve the invoice.
ProcureDesk syncs the invoice with the QuickBooks system after an invoice is approved.
Invoices are automatically synced with Quickbooks so that the team doesn’t have to enter invoices one by one.
“The fact that we didn’t have to receive invoices from a bunch of different places was a great improvement over the current process.
It is a huge labor-saving since we don’t have to type in invoices in the QuickBooks system” – Kevin Slatnick – CFO Coast Flight
The team now pays the invoice out of QuickBooks and the payment status is updated back in ProcureDesk.
“ProcureDesk saves us 25% to 35% percent of the time that we used to spend on processing invoices, which is huge.”