Maximize Your Sage Intacct Investment with Stampli
Sage Intacct ERP customers can take advantage of accounts payable automation to optimize workflows, save time and money, and get access to accurate, real-time AP and financial data. The ideal AP automation to ERP solution is flexible to meet your company’s complex and changing financial management needs, adapts easily to your existing P2P and accounting processes and Sage Intaact environment, and is scalable to support business growth.
Traditionally a back-office function, accounts payable is evolving into a strategic driver for finance teams. At the same time, CFOs face increasing pressure to do more with less, as AP departments face pressure to reduce costs and support business growth. Read on to learn how integrating an AP automation platform like Stampli into your Sage Intacct ERP can benefit your business.
Transformation vs. Automation – The AP Challenge
CFOs today face a challenge regarding the business case for AP automation. On the one hand, AP automation can significantly reduce costs and improve process efficiency. On the other hand, automation platforms provide transparency, access to accurate and timely data, and analytics that transform AP into a strategic driver for the business.
In AP in 2022: Expectations, Technology, Opportunity, Stampli surveyed over 250 finance leaders across the US regarding their accounts payable challenges. Not surprisingly, 76% of leaders reported that they expected the responsibilities of their AP department to increase, and 41% said they specifically expected the increase would include an increase in AP’s strategic role.
The survey also revealed that 71% of leaders expected an increase in the volume of invoices their AP department would need to process, with 27% saying they expected the volume to increase significantly. At the same time, 55% of leaders said they expected the complexity of individual invoices to grow – 24% expected a significant increase in complexity.
Meeting this challenge means taking an evolutionary approach to accounts payable. In this podcast episode, Ben Murray, Founder of The SaaS CFO, is joined by Nick Gerostathos, SVP, Chief Accounting Officer, and Corporate Controller at Talkdesk. They discuss how learning to adapt to new environments can help CFOs initiate and manage evolutionary change in their organizations. Unfortunately, for many companies, there are two obstacles: slow processes and inaccurate business data.
Slow Manual AP Processes
In their benchmarking survey of accounts payable processes, The American Productivity and Quality Center reported that companies using paper-based workflows process only 6,082 invoices per year per employee, which is nearly half the industry average of 10,853 per year per employee. Paper-based invoice processing tasks like keying in and G/L coding paper invoices, matching invoices to POs and receipts, and using emails and paper files for approvals are slow and prone to errors. As the volume and complexity of invoices increase, so does the number of problems.
Inaccurate Data Impacts Decision Making
CFOs need accurate and timely data to make informed decisions. In August 2022, PYMNTS.com reported that 99% of businesses surveyed said they struggle to access information from their ERPs. The same survey revealed that 82% said they are making business decisions based on old, inaccurate data, and 85% said those bad decisions have resulted in lost revenue. Manual invoice processing and data entry are slow and prone to errors, which can result in low-quality AP data.
AP automation provides the flexibility and functionality to overcome these obstacles by optimizing AP processes and sharing accurate real-time data with the whole organization. To fully realize these benefits, you need an AP automation solution that seamlessly integrates with your ERP. That way, you can improve the efficiency of procure-to-pay processes, share accurate and timely data to improve decision-making, and improve communications and collaboration.
The Benefits of Accounts Payable Integration with Sage Intacct ERP
Integrating an AP automation platform with your Sage Intacct ERP lets your company streamline processes and share accounting and accounts payable data and communications across departments. AP to ERP integration frees AP departments from the burden of overwhelming paperwork and inefficient manual processes so they can refocus on more strategic tasks. Here are the main benefits of integrating AP automation with Sage Intacct:
Streamlined Invoice Processes
Automated accounts payable platforms with machine learning and optical character recognition (OCR) functionality significantly improve the speed and efficiency of invoice processing. Faster processing lets your company improve cash flow by making payments on time and avoiding late payment fees.
Stampli’s advanced invoice processing functionality learns invoice patterns and workflows to make GL coding, detecting errors, and identifying duplicate invoices more efficient.
Three-Way Invoice Matching with Real-Time Visibility
AP platforms automatically sync and match invoices, purchase orders, and receipts in real time. If the system detects an error, it flags it and sends a notification to the AP team.
Stampli auto-syncs PO and receipts data with Sage Intacct and can perform three-way matching of POs to invoices for partial amounts and multiple POs to a single invoice for complete accountability.
Protect Data Integrity and Security
Your Sage Intacct ERP is the single point of truth for business transactions. Accounts payable software protects important transactions, vendor, and payment data and maintains internal controls for data integrity.
Stampli helps preserve data security and integrity via a bi-directional sync with Sage Intacct modules and tools.
Improved Spend Management
AP platforms automatically sync general ledger accounts, credit memos, vendor discounts, pricing information, ACH and electronic payments, and approvals processes with your accounting software or Sage Intacct ERP. By improving payments management, the AP platform helps facilitate consolidations and reduce payment errors, duplicate or late payments, and late payment fees.
Automate vendor payments and use payment options like ACH, checks, or Stampli Card with Stampli Direct Pay. Direct pay simplifies payment processing by auto-syncing with Sage Intacct to provide consistent payment information across your business.
Better Supplier Management
Integrating AP software with procurement, CRM, finance, and other ERP modules allows you to centralize and share vendor information with everyone in the P2P workflow. Improved data access and better communication help ensure purchasers have accurate pricing and discount information and that vendors get paid on time.
Advanced Vendor Management from Stampli is a step beyond the vendor portal. It simplifies vendor onboarding and ensures vendor records, licenses, W9s, and other key information is up to date in Sage Intacct.
Scalable to Support Business Growth
It isn’t easy to scale manual accounts payable processes. When your business grows, the volume of invoices and invoice complexity also increase. Adding additional employees is expensive and adds more complexity and more chances for error. AP automation platforms scale and adapt to increasing invoice volumes to support business growth.
Invoice processing from Stampli can handle any growth scenario, such as multi-entity accounting and multiple subsidiaries, tax codes, currencies, or ERPs.
Fast Implementation Without IT Coding
You can implement cloud-based AP automation solutions with minimal IT involvement and no changes to your processes and Sage Intacct environment. That means you can get up and running quickly.
As an industry leader in customer support for AP automation, Stampli provides end-to-end support and a pre-built Sage Intacct integration that your company can set up in weeks, not months.
Empowered Business Strategy
Freeing up accounts payable resources and making accurate and timely data available to everyone in your organization transforms AP into a strategic driver. Finding and investing in the AP automation platform that provides the best ROI and seamless integration with Sage Intacct and accounting systems will boost productivity and add strategic value.
Stampli: The Leader in Sage Intacct Accounts Payable Integration
Stampli is the clear AP automation choice for Sage Intacct ERP. A G2 Grid Accounts Payable Leader, Stampli is recognized for exceptional customer service, implementation, and delivering results. With a pre-built Sage Intacct integration that auto-syncs all your core accounts payable processes and data, Stampli lets you maximize your ERP investment.
The case studies speak for themselves – Stampli’s solid track record of helping companies optimize AP processes, access actionable business metrics and analytics via visual dashboards, and turn accounts payable into a business-leading strategic driver. Contact the Stampli team today to empower your Sage Intacct ERP.
