Facilitates digital transformation by reducing physical office space needs by 3X
Eliminating manual processes is getting easier for businesses with the rise in digitization of offices and use of cloud computing. Many businesses are looking for automation to eliminate manual tasks, which can lead to costly errors, and streamline costs in order to position the business to thrive going forward.
One of the manual processes that businesses can and should automate is accounts payable (AP) and B2B payments. For processes that require an AP clerk to process a paper invoice, there are multiple risks: data entry errors, duplicate invoices may be paid, and the bottom line may be compromised.
Enter Stampli. It’s the only AP automation software that centers communications on top of the invoice so that AP collaborates better with approvers, vendors, and anyone involved with purchases to quickly resolve issues and questions, resulting in 5X faster approvals.
For New England Security Protective Services Agency (NESPSA), an accredited security protection firm and private investigations agency, 5X was exactly what Stampli delivered. With Stampli automation, NESPSA has reduced its invoice lifecycle by 5X by eliminating many of its manual processes, such as coding invoices, sending for approval, and manually entering each invoice into its accounting system, QuickBooks Desktop (QBD).
Before implementing Stampli, it used to take NESPSA’s AP manager about 10 hours a week to manage the invoice lifecycle. “With Stampli, we have reduced the invoice lifecycle from 10 hours to about two hours,” said Dan Sarno, vice president and controller. And, the AP team can work even more efficiently from home during the COVID-19 pandemic.
Read the new NESPSA case study to learn how Stampli enabled it to eliminate late payments, reduce its physical file cabinet footprint by 3X, and provide its controller and AP team with 360-degree visibility and control.