About Bayard Advertising
Name: Bayard Advertising
Industry: Advertising & Marketing
Accounting System: NetSuite
Company size: 100-499
Payment volume: 500+
Founded in 1923, Bayard combines almost a century of digital marketing experience with the creative capabilities of a leading B2C agency. They’re technology-agnostic and are able to adapt to your needs and create the best solution for your challenge.
They create, grow, and leverage your employer brand to achieve your goals. No matter where you are in the marketing life cycle, they can help. There’s not a one-size-fits-all solution to recruiting, so they employ personalized, candidate-centric approaches that reach qualified job seekers with a more efficient ROI.
The Challenge: Living paper-centric in a digital world
Bayard Advertising was founded in 1923 and stands in the heart of Manhattan. It was the vision of the finance department— lead by Louis Naviasky (CEO) and Andrew Suzuka (CFO)— to streamline and automate the Accounts Payable process. One of the projects Darren, AP Manager at Bayard, was brought in to implement was automating the AP process for Bayard. The company was expecting growth, and the leadership was looking for a system with the following benefits:
- Time Savings
- Streamlined, Accurate Processing
- Integrations with existing finance systems
- Greater Control
- Better Insight and Transparency
- Customized Solutions
Going digital as the world goes remote
Once the finance team did their research and decided that MineralTree was going to be the best fit for Bayard, they began the implementation process.
The timing couldn’t have been better. Not two weeks after bringing MineralTree online, New York Governor Andrew Cuomo began putting orders in place to mitigate the spread of the novel coronavirus, or COVID-19. It began spreading through New York State – and the rest of the nation–rapidly. With their offices right in Times Square, the Bayard team had to begin working remotely.
The value of smart staff coupled with automation
Bayard sees the value in a team equipped to handle their work beyond today. And, they clearly illustrate the ability to adapt and adjust to a digitized form of accounts payable. Darren worked closely with the Bayard and MineralTree staff to ease the period of adjustment, ensuring they were fully comfortable with the platform.
Access, Ease, and Rebates with MineralTree
“When COVID-19 hit we were just starting out with MineralTree and we’re able to work from home. The entire AP department has been working from home now for 2 months. MineralTree has allowed for a smooth remote working transition.”
Bayard is experiencing quicker turnaround time on invoices being processed and vendors are rapidly signing up to the virtual card platform. Because MineralTree is cloud-based, the Bayard AP team is able to work remotely without issue. “This is by no means a ‘Band-Aid,’ it’s a system,” said Darren.
Bayard processes roughly 90% of their payments through the MineralTree virtual card platform and will also be using the ACH feature. Digital payments have quickly become a necessity, and not just a nice-to-have.