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
