AP Invoice Processing Automation Case Study: Healthcare
Home Healthcare Agency Realizes Instant Results with FileBound AP Automation
A busy medical care practice with limited staff, a home healthcare agency was deeply involved in providing quality service to patients. However, lack of a workable accounts payable process and a viable electronic workflow system caused the company to pay significant late charges to vendors.
On average, the company was sending out approximately 50 checks per week using a simple Quicken accounting program. There was no purchase order system and four different people within the organization had the authority to order supplies. The CFO had no idea an order had been placed until the packing slip arrived in his mailbox. He would file the packing slip in one drawer of his desk. When the invoices arrived, they were placed in another location. Because there was no clear system for matching up invoices and making payments in a timely manner, the company was often forced to pay late charges.
The first step in solving the problem was the adoption of FileBound AP workflow automation software that allowed specified users to approve purchase orders before orders are placed. The home healthcare agency's personnel set due dates within the workflow module that assure payments are made in time to avoid late charges. With FileBound, the agency is able to match up the PO, packing slips and invoices electronically, ultimately decreasing the time and hassle of paying invoices.
The home healthcare agency has eliminated late fees from its AP process. The system is streamlined, organized and efficient, and they once again have confidence in its AP process so they can continue focusing its energies on providing quality health care services to people in need.
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