Paymode Customer Success Story: Recology

Recology was able to eliminate waste from their invoicing processes with Paymode.

Recology realized more than 50% improvements to their accounts payable processing costs, processing time and number of errors by switching from manual processes to Paymode's invoice automation solution. For a company dedicated to recycling, composting and creating zero waste, efficiency was unsurprisingly the goal, and efficiency is what we offered.
 

Challenges

Manual paper-based processes which were slow, costly, and error-prone.

• Difficulty keeping-up with AP processing volume
• Hard to get visibility into AP activities and status updates
• Paying too many late fees
   

Use Case

• Uses Bottomline for Invoice Automation
• How they pay their vendors: ACH, card, wire, and check

Paymode AP Automation Results

Recology rated the overall value of Bottomline capabilities as superior than other AP automation solutions they have used or evaluated.

AP Operations Improvements

• Digitized previously manual paper-based processes
• Improved AP efficiency (i.e. reduce processing time, cost, and errors)
• Scaled AP throughput to meet invoice and/or payments volume
• Reduce late payment fees
• Earns cash-back rebates on AP spend
   

AP Performance Improvements

• >50% faster AP processing time
• >50% lower AP processing cost
• >50% fewer AP processing errors
• >50% less invoice exceptions
• >75% increase in invoices linked to a PO
• >75% improvement in straight-through touchless processing
• >50% quicker approval times
• >25% fewer late payments
   

Delivered Value Promised

• Ramp up was quicker than expected
• Improves the relationships we have with our vendors
• Seamlessly integrates with our ERP and banks
• Improves straight-through processing
• Makes it easy to get status updates and rollup of AP spend
• Improves AP reporting, budgeting, and forecasting
• Improves ability to track key AP performance metrics

“Our AP team no longer needs to physically chase down the invoice approver in order to make a payment thanks to our AP solution."