Insights

Are 90% productivity gains actually possible in the accounts payable function?

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I’ve always considered myself a sceptic. Having grown up with two older brothers who convinced me about the most ridiculous things, I have developed a healthy dose of “do-your-own-research” medicine. And so, when I first joined Compleat and was shown all that iCompleatInvoice can do, I was impressed. Very impressed, in fact…but 90% savings? We’ll have to see, I thought.

And that’s exactly what we’ve done! Compleat’s most recent case study came from one of our most valuable beta partners, Food Alert. Their objective was to increase efficiency across the business and remove repetitive, low-value tasks to make way for high-value, interesting tasks. And so, they started their Compleat automation journey by trying our free invoice approval software, iCompleatInvoice Starter.

iCompleatInvoice Starter gave them a taste of what is like to have a paperless and smooth purchase invoice process, to know what the approval status of every invoice is, and the freedom to approve and see invoices from any connected device, in app or on desktop.

Afterwards, the opportunity to upgrade and maximise efficiency was presented and taken. Knowing that their feedback would help shape and move the software further allowed us to work closely with their team, making sure that we were delivering an excellent product to our partners.

From there, it was a matter of time and adoption before the productivity started to improve. Thanks to iCompleatInvoice’s defaulting rules, easy approvals, audit trail, document management and reporting capabilities, the time needed to process an invoice was dramatically reduced. So much, that on average, more than 90% of the time Accounts Payable spent on processing invoices was reallocated by iCompleatInvoice to be used for something better than chasing and filing paper.

Will I achieve the same?

Potentially. This will depend on which AP automation solution is best for your business, your current process and how straightforward your internal processes are.  If you’d like to know more about what iCompleatInvoice can do for you, why not book a personalised demo with one of our experts and see how much time, money and effort we can save from your Accounts Payable process.