SPI Switches to Bottomline for Better AP Outcomes

Major Obstacles Require Major Decisions

Seeking an ERP upgrade, automation and increased rebates, SPI found a fit with Bottomline’s Paymode-X

SPI was struggling with visibility and lack of customer support from their AP processes and payments solution, but ultimately an ERP upgrade forced a change.

The global insulation distribution and fabrication company found themselves dealing with a frustrating lack of visibility into the 6,000-8,000 invoices they needed to pay monthly. Supplier payments/ refunds were complicated and customer service was slow.

When it was time to upgrade their account system, Infor, and their solution couldn’t accommodate their needs, the situation reached a breaking point.

SPI needed a stronger solution and attentive customer support. They began working with Basware to help with their invoice processes and were referred to Bottomline for payments upgrades that could integrate seamlessly with Infor.

“(The old solution) was difficult to use. Paymode-X is not.” – Karen Singleton, Director of Credit & Shared Services

Streamlined & Speedy

SPI was ready for the change. “I would rather have my team sit and stuff checks for two hours than deal with (SPI’s old solution) anymore,” said Candice Mooney, Shared Services Manager with SPI.

They were frustrated by partial payments, a cloudy cash picture and upset suppliers. Bottomline offered an easy way to upgrade visibility and increase the number of electronic payments. SPI joined the Bottomline payment network to shift a significant amount of their AP spend to faster, more secure digital payments with an option to earn more rebates.

The results exceeded their expectations.

How did SPI benefit from switching to Paymode-X?

Nine months after making their first digital payment through Bottomline’s secure network, the company has seen a better-than-expected enrollment rate. That includes 578% more transactions via Premium ACH, Bottomline’s proprietary rebate-generating ACH payment type, than originally forecast.

The company also enrolled 110% more spend than originally anticipated, further streamlining accounts payable. Vendors have appreciated getting their payments more quickly, while SPI has benefited from being able to pull up critical account and payment information instantly. Data flows seamlessly back and forth from Infor, as well.

“Our experience has been impeccable. It flowed so well and was so well-planned, it enabled us to focus on the more complex tasks at hand.” — Candice Mooney, Shared Services Manager

The success is due to a high percentage of suppliers already being enrolled in Bottomline’s network, per Singleton, as well as the compelling remittance and payment speed benefits for those vendors who chose to enroll. The speed and transparency is paying off in a big way for SPI.