We Helped Our Client Reduce Their Past Due Payments
From >40% To Less Than 5%
Clinical-stage biotechnology company, California, USA
We’re helping our client’s Accounts payable team spend less time on managing the AP mailbox, invoice data entry, reconciling the invoice data, and tracking the invoice — so they can focus on other strategic financial aspects such as working capital management, amortization management, Fixed assets account and prepaid expense management Etc
Reduction in past due payments
USD 0.25 MN
Finance operations budget reduction
Invoice data quality improved in the MS DAX Procure-to-Pay system
Buying Simplified team acted very quickly and flexibly in deploying their operations and subject matter experts within 48 hours of asking them to undertake the project, and they immediately bought the unmanaged AP email under control– Chief Finance Officer
Hear from our customers who transformed their Finance
processes with Buying Simplified
Buying Simplified provided high-quality Accounts Payable associates to quickly gain control of our company's payables and improve our process and metrics
Buying Simplified has extensive breadth and capability in Procurement spend analysis, tail spend management and sourcing services
Buying Simplified team provided us the ability to increase our cash runway by providing end-to-end Procurement and payment services at half the cost of hiring resources internally. Excellent team, service and SLAs
Reduce administrative, cumbersome tactical, and email-based work and improve communications of the accounts payable team.
Streamline invoices received, reconcile the supplier statements, better tracking of emails and invoices
entralized supplier invoices and improvised visibility on the end-to-end processing of the invoices for the senior management (cfo, controller, cpo)
- Invoice data captured in the ERP.
- Better tracking mechanism of emails
- Better invoice trackers
- Systematic and prompt backup of invoices
- Detailed vendor invoice stmt reconciliations
- Templatized and clear responses
- Respond to emails within 24 hrs.
- Periodic follow-ups on emails
- Right escalation mechanism to improvise the responses.
- Detailed weekly reporting.
- Visibility of invoices in each queue
- Week-on-week effort estimation
Highlighting the escalation pointers
- A client can concentrate more on strategic work.
- 99% accuracy of invoice data in ERP
- 90% of the emails are actioned /responded to.
- Open cases were reduced from 12000 to 300.
- 90% of emails met the 24hr sla.
- Past due payment percentages reduced to less than 10% (prev>20%)
- 1 fte reduction – a potential saving of $120k
- Zero loss of invoices