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Liberty Bank was founded in 1825 and has grown to become one of the largest mutual banks in the country, with nearly $9 billion in assets and 51 retail branches across Connecticut and Massachusetts. While it started as a local institution, Liberty Bank now serves a broad range of customers with consumer and commercial banking, cash management, mortgages, business loans , and investment services.
Liberty Bank’s Accounts Payable (AP) team faced persistent inefficiencies trying to manage invoice approvals and payments across two disconnected systems within their ERP. The process was slow, fragmented, and difficult to scale—system syncs alone could take an entire day. To keep up, team members resorted to using dual monitors, manually matching invoice data in one platform with images and documentation stored in another. “It was very cumbersome and time consuming,” said Garrick Menditto.
The challenges didn’t stop there. Invoice approvals could take many days as each document passed through multiple approvers, often creating bottlenecks. With over 1,000 paper invoices processed manually each month, the strain on the AP team grew quickly – highlighting the urgent need for a faster, more streamlined approach that could support the Bank’s growth.
Liberty Bank turned to AvidXchange to simplify and modernize its AP operations—and the transformation was immediate. “It’s a lot quicker. Everything is smoother than it was before,” said Garrick Menditto.
The Bank implemented AvidXchange’s invoice and payment automation solutions, purpose-built for financial institutions. A key factor in the successful rollout was the software’s seamless integration with Liberty Bank’s core system, COCC. With the invoice automation software in place, Liberty Bank fully digitized its invoice management process—eliminating paper handling and reducing manual data entry through OCR-powered capture and automated GL coding. Customized workflows now route invoices directly to the appropriate approvers, accelerating review cycles and significantly reducing approval times.
On the payment side, the team gained the ability to manage bill payments through a centralized, cloud-based platform with real-time visibility into payment status and seamless reconciliation. Team members no longer had to juggle disconnected systems or rely on multiple monitors to track down supporting documentation. “Just the fact that it’s a single send and everything follows like dominoes—it’s terrific,” Menditto noted.
Together, these solutions gave Liberty Bank a streamlined, paperless AP process that not only improved speed and visibility but also positioned the team to handle increasing invoice and payment volumes with ease. With automated workflows, built-in compliance aid features, and anywhere-access via the cloud, the AP team is now equipped to scale operations efficiently—without adding unnecessary complexity.
At Liberty Bank, what once took days can now be completed in under 30 minutes—with invoice approvals taking just minutes and payments sent same day. “Just the fact that you can build the workflow and then connect an invoice to it is just a huge time saver—and then all the pieces just happen,” said Menditto.
By reducing manual approvals, eliminating paper, and building workflows tailored to their internal processes, Liberty Bank transformed its AP department into a faster, more efficient operation. The team no longer spends hours tracking down documentation or waiting for systems to sync. Instead, they can focus on strategic tasks that add value to the organization.
Support from AvidXchange’s team of experts has also been seamless, with fast, reliable responses whenever questions come up. “It’s great how you can go right into the payment or invoice you have a question about and contact support directly. They’re always very responsive,” Menditto noted.
More importantly, automation has given Liberty Bank the ability to scale. The AP team can now manage growing invoice and payment volumes without additional headcount or operational strain. With real-time visibility, centralized controls, and a fully digital process, the AP department is better equipped to support the Bank’s growth—ensuring consistency and control across the board.
“It’s much easier now. Everything is smoother and feels far less clunky.”
