With AP automation, nonprofit organizations can reduce their AP and payment processing costs. In addition to cost savings, these organizations can eliminate the manual tasks associated with paper invoices and checks in the process. In an automated workflow, nonprofits can track invoices electronically and have a central repository for invoice data that can be accessed anytime, anywhere.
In today’s blog, we’ll take a look at a case study by TechValidate and how AP automation saved CDS Monarch time and money. CDS Monarch provides people with intellectual and developmental disabilities, and their families, the support and opportunities needed to build fulfilling and independent lives as active members of our community.
CDS Monarch uses Sage 300 ERP for their accounting system and has been an AvidXchange client for over a year, utilizing both our AvidInvoice and AvidPay solutions.
Challenges Before Automation
- Biggest motivation for purchasing an AvidXchange Solution:
- Get rid of the paper
- Improve processes
- Improve compliance and controls
- Improve visibility
Results After Automation
- AvidXchange has impacted the business in the following ways:
- Scaled for growth
- Saved time
- Improved controls
- Improved visibility into spend
- Reduced their invoice and payment processing costs by 10 – 20% with AvidXchange.
“I really like that other departments can see their invoices at any time in the solution instead of calling me to see the status and then me having to go to a filing cabinet to look for it. With its history ability, I can see the timelines of when things were processed, which gives me the information I need for any future questions.”
“AvidXchange has improved our overall operational efficiency, and we can’t imagine going back to our old process.”
This data was sourced directly from verified users of AvidXchange by TechValidate. TechValidate verifies the identity and organizational affiliation of all participants that contribute to published research data. When research participants so desire, TechValidate also guarantees their anonymity so that they may share information honestly and freely.
Source: TechValidate. TVID: C2D-14E-308.