Accounts Payable Automation Visibility Builds Company Growth

When you think about corporate growth, you may not think about accounts payable playing a role. But the reality? AP can have more of an impact than you realize.

The larger a company becomes, the more products it needs to create. And the more products it needs to create, the more supplies it needs to purchase.

As more and more transactions occur, Accounts Payable needs to grow in order to keep up the pace.

A larger AP department does come at a higher cost – but there’s another option: streamlining operations with Accounts Payable automation.

Here’s what one company did when faced with that exact issue:

They Moved From Manual Processes to Accounts Payable Automation

As they ramped up their staff (to the tune of 34 percent personnel base growth within five years), they also moved from manual to automated document management and accounting workflows. This reduced the cost (and time commitment) of their AP burden – which rang in at around 500 transactions processed per day.

Because they had to manage manufacturing and distribution facilities in both the US and Europe (as well as regional offices across the globe), they needed a solution that could give everyone access to all of their financial records. That’s where IntelliChief came in to help.

They Selected Software that Integrated With Their ERP

After surveying the enterprise content management marketplace, the company selected IntelliChief for ECM. The main reason? Our software integrated directly with their ERP.

Another reason? Our team has extensive experience automating AP workflows – and we were able to improve their Accounts Payable department right away.

Here’s what their Director of Accounting had to say:

“IntelliChief has saved us considerable resource time and cost over our previous manual processes way of running our business, both in the AP department and in all others throughout the company utilizing the ECM system.”

The takeaway? They were able to continue their trend of consistent annual revenue growth & personnel expansion while meeting their business plan’s commitment to strategically increase their market share. By making sound investments in employees, facilities, and technologies, they were able to achieve meaningful success.

“Automating our workflow with IntelliChief has provided us the ability to map our goals and targets, with visibility to processing status of daily tasks,” they stated. “This has provided us a phenomenal advantage with reviews and approvals, and with our cash flow management.”

They Stopped Worrying About the Physical Challenges of Paper Records

Once the mandatory storage window has closed, the files are off to recycling. Meanwhile, a digital copy is kept in IntelliChief’s archive.

We have paper storage both in-office and off-site in our warehouses,” they mentioned. “Freeing the space is allowing valuable square footage to be utilized more profitably.”

There was also the matter of audits. Working within a highly regulated industry, the company had to plan for regular audits – both internal and external.

They saw this as an opportunity to reduce the time and cost of these activities by establishing an auditing workstation on-site, where auditors have searchable access to any documentation they require via IntelliChief’s archive. This added organization to audits, eliminating the need to physically source documents from a file cabinet or warehouse in some corner of the world.

“Single-point access had been an immense help with both Financial and Regulatory Affairs audits; the added convenience and time savings – both with auditors and our staff – is greatly reduced”.

In addition to audits, their Regulatory Affairs department added IntelliChief for a safe, updating repository for all product and procedure information related to their governing Food and Drug Administration regulations.

They Automated Production, Quality Assurance, and Distribution As Well

Witnessing the benefits of IntelliChief with Accounts Payable, interdepartmental expansion was the company’s next move.

Next up: continued automation in Production, where IntelliChief helped employees collectively assemble all project documentation in a single system. This allowed real-time visibility and cross-departmental workflows. It also made it easy to review each project’s details, if the information is ever helpful for future jobs.

This expansion also gave Quality Control a better way to manage work order documents electronically. They too had on-demand access for all project records.

The Production and Quality Control groups together have benefitted from tandem use of IntelliChief; it continually helped with project organization and oversight,” commented the Accounting Director. “Maintaining all project records together in a single repository, with automated workflow among those involved with each project, has simplified communications and enhanced delivery times notably.”

And in Distribution? The company started capturing shipping & receiving documentation at each logistics point. From there, that same documentation is automatically routed to AP for matching and payment, or Customer Service for collection and archival.

The Production and Quality Control groups together have benefitted from tandem use of IntelliChief; it continually helped with project organization and oversight,” commented the Accounting Director. “Maintaining all project records together in a single repository, with automated workflow among those involved with each project, has simplified communications and enhanced delivery times notably.”

See how you can do the same.