One provider cut its accounts payable processing time drastically through automation.
A nonprofit senior living community shrank its accounts payable (AP) processing time by over 80%, thanks to a streamlined invoice and payment automation platform. By partnering with Paymerang, Juliette Fowler Communities successfully transformed its own financial processes. The result? Efficiency gains, talent development, and enhanced cybersecurity measures.
Juliette Fowler Communities, a LeadingAge member, serves over 500 individuals and families and employs 150 team members in Dallas, TX. The organization had previously begun transitioning away from paper-based processes and had cultivated staff buy-in.
Paymerang, a LeadingAge Bronze Partner with CAST Focus, offers finance automation for modern enterprises. Its award-winning Payment Automation solution increases efficiency by automating the entire payment process, from secure vendor enrollment to payment delivery to reconciliation and follow-up. Paymerang’s platform saves Accounts Payable departments thousands of hours annually, enhances visibility, increases accuracy, and reduces fraud risks, and operating costs. The company is based in Richmond, Va.
The case study explains how the provider successfully incorporated Paymerang’s solution into its existing Enterprise Resource Planning system, Microsoft Business Central. The implementation brought a smooth transition, minimizing disruptions to daily operations.
The automation brought substantial advantages to Juliette Fowler Communities’ financial operations. Benefits include the following:
Enhanced Efficiency. Juliette Fowler Communities had issued all of its AP payments as paper checks. The Paymerang implementation cut that number in half, issuing 50 percent of payments electronically. With streamlined electronic processes in place, staff members were empowered to focus on higher-level tasks, driving efficiency gains.
Talent Development. The organization reshaped entry-level roles on the finance team as multifaceted positions that encompassed accounts payable, accounts receivable, and treasury functions.
Vendor Communication. The organization worked closely with vendors to communicate the transition to electronic processes. Vendors were encouraged to submit invoices electronically, further enhancing efficiency.
Cybersecurity. Paymerang’s robust security measures, including multifactor authentication and Positive Pay, ensured protection against fraud and cyber threats.