Energo

Energy Company Boosts AP Efficiency with Automation

Industry

Energy

Company Size

200 Accounting System

QuickBooks Enterprise

About the Company

Energo is a full-service energy provider, delivering heating fuel to buildings in New York City for more than 30 years. The company has expanded over time, now offering related services including heating, ventilation, and air conditioning (HVAC) maintenance as well as energy-efficiency consulting to help customers reduce consumption and comply with local regulations.

Shannon Powers is the manager of accounts payable (AP) and human resources information systems (HRIS) at Energo. She oversees all AP, HR, and payroll at the company, managing one employee who helps with the AP workload.

The Challenge

Before optimizing processes with AvidXchange, Energo frequently paid invoices late, causing cash flow issues and strained supplier relationships. A major bottleneck occurred when invoices were inconsistently entered into the system, leading to delays of over 50 days for approval. The company’s complex approval workflows often resulted in invoices getting lost or stuck, requiring extensive time to track down stalled approvals. With added HR responsibilities, Powers recognized the need for a more efficient and organized invoicing process.

The Solution

To free up time for her new HR duties, Powers streamlined Energo’s AP processes using AvidXchange’s invoice management solution. The automated software leverages optical character recognition (OCR) and machine learning to improve accuracy, reduce errors, and ensure invoices are coded correctly and assigned to the right workflow. Invoices are electronically routed through customized approval workflows, with automatic forwarding and email reminders to prevent delays. Approvers can review and approve invoices anytime, from any device, ensuring efficiency. Additionally, AvidXchange provides reports that enhance process visibility and help identify bottlenecks.

The Results

Since implementing AvidXchange, Energo processes invoices faster and more accurately, with errors now “nearly nonexistent,” according to Powers. Invoice processing time has dropped from over 50 days to just 24 hours. Customized workflows ensure invoices are routed automatically, reducing lost invoices and time spent tracking approvals. With reporting time reduced from an hour to just 15 minutes, Powers has greater visibility into invoices, ensuring timely payments and strengthening supplier relationships. Most importantly, she has freed up time to focus on her new HR responsibilities while AvidXchange handles the tedious AP tasks.

"I wish everyone knew that there are products out there that can make your job easier while making the company run better and save money. You don’t have to always struggle to keep up."

Shannon Powers, Accounts Manager