In an era of digital processes, remote work and a heightened risk of fraud, the manual and labor-intensive ways of the past just aren't cutting it for accounts payable teams today. Mayer Electric wanted to put those days behind them and turned to Paymode-X to find a better way forward, and the AP automation benefits they realized turned out to be genuine game-changers.
Challenges
- Manual paper-based processes which were slow, costly, and error-prone
- Relying too heavily on paper checks to pay vendors
- Paying too many late fees
- Missing out on available early payment discounts
Use Case
- Uses Bottomline for Invoice and Payment Automation
- How they pay their vendors: ACH, card, wire, and check
Results
The surveyed company achieved the following results with Bottomline's AP Automation solution:
- Improved AP efficiency (i.e. reduce processing time, cost, and errors)
- Seamlessly integrates with our ERP and banks
- Easy status updates and rollup of AP spend
- Improves AP reporting, budgeting, and forecasting
- +75% more cash-back rebates earned on AP spend
- Standardize and automate AP processes
- Two-way and three-way matching of invoice to PO
- Ability to onboard vendors quickly to securely accept digital payments
Download the success story to explore the full results.
