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AP Automation Enables Focus on More Critical Areas of Finance
David Parrack is the CFO and has one Staff Accountant on his team. The two of them manage all the finances so it was even more crucial that they use technology to maximize their efficiencies where possible. Previous to MineralTree, the Staff Accountant was managing accounts payable and accounts receivables. She was manually entering bills into the ERP and following up on lost bills and managing incoming vendor calls. Approvals were done manually on printed copies of invoices. With MineralTree, all of the manual processing has been removed from the Staff Accountant. Now David can quickly review invoices in the system, route for approvals and schedule the payments.
The Challenge: Reduce manual processes to improve accuracies and reallocate resources to value-added activities
Armed with an ERP to meet the needs of the business, they now needed to focus on a solution that would reduce the manual processes that were consuming resources. One area that they recognized could be impacted was accounts payable. With the intent to go paperless, streamline approval processes and have visibility into true cash flow, they sought a solution.
The Solution: MineralTree automates the entire process and ensures the complete end-to-end workflow is followed
Evaluating four accounts payable automation solutions, they decided on MineralTree for the true out-of-the-box integration with Intacct. They also knew that once they made their decision, they needed a quick implementation and MineralTree was able to deliver. Adding the ability to make vendor payments by check, ACH, credit card or virtual card sealed the deal.
Read the entire story here: https://www.mineraltree.com/resources/ap-automation-case-studies/Community-food-bank-of-eastern-oklahoma
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