Service Systems Associates, Inc. (SSA) is an industry-leading provider of services to more than 27 million annual visitors to zoos, museums, and aquariums across the United States. SSA grew rapidly and now serves more than 45 branches.
SSA’s payable invoices required about 8-10 manual touches per invoice and had a high potential for lost, misfiled, misplaced or unauthorized invoice submissions. With rapid growth and minimal accounts payable (AP) staff to manually process 3,500 monthly paper invoices—SSA was looking for ways to leverage existing systems, decrease paper usage, gain access to information and invoices in an online format and improve invoice tracking.
After evaluating several AP automation solutions, SSA selected Bottomline Technologies’ Transform AP, an accounts payable invoice processing solution, which provided all of the capabilities the company needed to reduce AP costs and process invoices faster and easier. In addition to dramatically reducing manual efforts, the solution also improved visibility to invoice status, audit history, and reporting.
By automating AP with Bottomline’s solution, SSA also realized increased returns on available cash, reduced fraud, and a sharp increase in early payment discounts. Analysts estimate that as many as 45% of companies capture less than 10% of early payment discounts—and these discounts can provide an annual return of up to 36%. With AP automation from Bottomline, SSA is now capturing these discounts.
Transform AP enables SSA to do more with the same resources while saving $15,000 annually—40% in associated paper expenses. The company also eliminated physical storage costs and now emphasizes recycling, which results in an additional $5,000 annual savings. With AP automation, SSA has cut last-minute shipping expense by 40% for an annual saving of $7,200.
“We can now go into Microsoft Dynamics and find invoice information in seconds vs. the previous method of searching through the dungeon of tubs. AP automation brings us security, approval, accountability, and accuracy. The right vendors are being paid because everyone is touching and approving it.”
—Kevin J. Eldridge, Executive Vice President, Service Systems Associates, Inc.
InfographicIs Paper-Based AP Taking Over Your Life?
This infographic highlights the cost of manual invoice processing and the amount your company can save by automating your accounts payable processes.
White PaperAP Invoice Processing: Clear Out the Financial Fog
Unfortunately, instead of getting crystal-clear, real-time analytics and insights, accounts payable can seem like a fogbank. Download the industry guide Clearing Out the Financial Fog to learn how to leverage accounts payable process automation for blowing away challenges.
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