Texas-based Smart Training had an invoice process that wasn’t as efficient as it could have been early last year.
The company, a provider of regulatory compliance training software, sent invoices by regular mail directly to its customers in the dental, medical, construction and oil and gas industries. Typically, the software provider received payments in about seven-to-10 days.
But in May of 2020, the company started emailing some of its invoices to AvidXchange to handle the invoicing and payment process with Smart Training’s customers. Using the AvidXchange Automated Clearing House (ACH) direct deposit service, the company has been getting paid automatically a week faster – usually in a day or two.
Smart Training no longer has to pay for paper checks
Quicker payments aren’t the only benefit. The company no longer has to pay for the invoices, envelopes, and stamps – saving about $5 per invoice, says Tracy Call, an executive assistant involved with her company’s invoicing process.
“Using AvidXchange, I like knowing that my request for money has been sent and received and there’s no mystery,” she said. “I don’t have to wonder why I haven’t been paid yet. I like the communication of sending our invoices on email because it’s so simple. Having an electronic process is far more scalable for our business than a paper process.”
Using the new system, she knows exactly where her company’s invoices are and get paid the right amount. “And I know I’m going to get paid on time.”
Smart Training likes that AvidXchange specializes in processing invoices
She also likes the fact that AvidXchange specializes in processing invoices and payments.
“We like that AvidXchange takes care of this for us so we don’t have to worry about it,” she said. “This is AvidXchange’s job. I trust you. I can focus on what I need to focus on because you’re focusing on making sure this is a smooth process.”
There’s another benefit: new business opportunities. With her company’s invoicing system set up with AvidXchange, Smart Training could eventually use the service with up to 50 more dental companies.
“There’s potential for some really good business growth,” she said. “It’s going to be that much easier because the invoice system is already established.”