Sleep and technology – two things everybody loves. Sometimes (or every night for some of us), our sleep is challenged because of technology. It’s hard to resist binge-watching our favorite show or checking our email from bed. And, for Purple (PRPL), sleep is enhanced by technology – mattress technology, which prior to Purple, had not changed in 40 years.
Rather than just repurpose memory foam like many of their competitors, Purple got their hands dirty with some serious macromolecular science. 30 patents later, the Purple Smart Comfort Grid was born. Today they have delighted millions of customers, and part of that responsibility is accomplished by working with about 1,350 vendors.
Purple’s Corporate Controller, Peter Taylor, is in charge of managing their accounting and financial processes. His lean A/P team had to use a lot of manual processes and hours to process weekly pay runs. He says, “Our A/P inbox was like a giant black hole. We did weekly pay runs that took our two resources nearly two full days to draft the list of vendors we needed to pay that week.”
When it came to identifying the right approvers for each invoice, Peter says, “It was done by tribal knowledge by our AP clerk, as they knew who in our organization had a relationship with a specific vendor.”
So, out with Concur Invoice and in with Stampli. Why? AP Automation that gives them full control of the invoice lifecycle. As Peter says, Stampli is “Reliable, trustworthy, and genius.” Read the new Purple case study to learn how Purple is now properly documenting 100% of invoices in NetSuite and processing 1,100+ invoices per month 63% faster than before, all while reducing operating expenses.
“With automation, approvals based on amounts or purchase type are all embedded into the application. We’ve eliminated gaps with a tool that helps track our workflow and approvals throughout the entire lifecycle.” – Peter Taylor, Corporate Controller, Purple