Mayer Electric CSS In page

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:

BT data representation 37 AP Improvements

  • Improved AP efficiency (i.e. reduce processing time, cost, and errors) 
  • >75% faster AP processing time
  • >75% lower AP processing cost
  • >75% fewer AP processing errors
  • >75% fewer invoice exceptions
  • >75% increase in invoices linked to a PO
  • >75% improvement in straight-through touchless processing
  • >75% quicker approval times
  • >75% fewer late payments
  • >75% fewer payments by paper checks
  • >75% more early payment discounts captured
  • >75% more cash-back rebates earned on AP spend

BT documentation & messaging 60 Value Delivered

  • Ramp up was quicker than expected
  • Seamlessly integrates with our ERP and banks
  • Improves straight-through processing 
  • Makes it easy to get status updates and rollup of AP spend
  • Improves AP reporting, budgeting, and forecasting
  • Improves the relationships we have with our vendors
  • Improves ability to track key AP performance metrics

BT action 83 Beating the Competition

  • Ease of use
  • Standardize and automate AP processes
  • Enablement of more of their vendors to submit invoices electronically
  • Two-way and three-way matching of invoice to PO
  • Ability to processes invoices straight-through
  • Streamlines exception handling
  • Ability to onboard vendors quickly to securely accept digital payments
  • Authentication and confirmation of vendor’s identity and bank information
  • Providing remittance information to their vendors
  • Improves AP reporting
  • Ease of deployment/implementation
  • Overall “value”

"Mayer Electric realized >75% faster AP processing time with Paymode-X."

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