Overview
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Family Allergy & Asthma Achieves 90% Faster Invoice Processing
About Family Allergy & Asthma
Founded in 1979 by Drs. Stephen J. Pollard and James L. Sublett, Family Allergy & Asthma is a group of board-certified allergy and asthma specialists with offices in Kentucky, Indiana, Ohio, and Tennessee. Family Allergy & Asthma provides a full range of allergy, asthma, and immunology services, and also offers sleep medicine services.
The Challenge & Solution
Challenge
Family Allergy and Asthma is a fast-growing business with many clinics, providers, and services to treat its patients. They work with vendors from immunotherapy drug manufacturers for items such as wasp serum, to medical suppliers like Henry Schein, to Staples for office supplies. Transactions are non PO-based; departments order directly with vendors and finance had no insight into its accounts payable (AP) pipeline.
Controller Zach Kulow said, “We had no visibility into invoices until the order arrived.” With 400 monthly invoices arriving by postal mail, processing was manual and slow. “Our accountant hand-coded each invoice and managed approvals among three to four people,” Zach added.
To get visibility into its AP process, Zach wanted a solution that would integrate with its enterprise resource planning (ERP) system, Intacct, to shorten the invoice lifecycle.
Solution
Zach and his team evaluated Tipalti and Hybrent in addition to Stampli. They needed a technology solution that addressed their urgent AP needs of processing and invoice approval. The team also wanted to continue using their current payment process. But, as Zach said, “Most of the AP automation vendor tools center around bill payment, and the AP side was not as robust. When we found that Stampli did exactly what we wanted, it was the obvious choice.”
Zach’s team got Stampli implemented in about one day, with Stampli’s team helping it connect and properly map fields with Family Allergy’s Intacct account.
“We brought Stampli on at the same time as the work from home order came in due to the COVID-19 pandemic. We were able to get 15 approvers in Stampli trained using the resources that Stampli provided. It’s really user friendly,” said Zach.
Hear it from the customer
I think the combination of the pandemic and how Stampli has improved our AP process has shown our company the need for digital automation. From an accounting systems perspective, we’re at the beginning of what we will do with automation, and now we’ve got the foundation to enable that.
Bottom Line
90% faster to get invoices into Intacct
It used to take about 10 days to get invoices into Intacct. With the Stampli API integration, Zach said “We’ve gone from 10 days to one day to get all invoices into Intacct, and, that’s a huge value add because it gives my team insight into all invoices so we can better plan.”
Additionally, with the COVID-19 crisis, cash flow management has become more critical, and Stampli’s advanced search capabilities allow Zach’s team to quickly manage it by identifying outstanding invoices, exporting those from Stampli, and getting them into Intacct for payment.
70% reduction in the invoice lifecycle
With its new AP automation process, 100% of all invoices are now in Stampli and Intacct. Family Allergy and Asthma’s AP manager quickly scans batches of invoices, which are then automatically sent to Stampli. Stampli identifies duplicate invoices using artificial intelligence, which has allowed Zach’s team to eliminate that risk.
“Before Stampli, our invoice lifecycle took up to 10 days, and with that came the risk of late payments and potential fees. Now it’s been shortened to about one day per approver, so three days total – that’s a 70% reduction in the invoice lifecycle,” said Zach.
Faster approvals for 400 invoices per month
According to Zach, the biggest time savings benefit from Stampli is in getting approvals. “The flexible approval workflow in Stampli is very valuable, as we get responses from approvers much faster. We can easily and quickly identify who has what invoice and its status in the approval process.
“We have 15 approvers in Stampli, and it’s easy for everyone to communicate inside the platform to ask and answer questions, track approvals, and have an audit trail,” said Zach. “We don’t need to have anyone onsite for any of the invoice approvals.”
Quick pivot to supporting telemedicine during COVID-19
Right after Stampli was launched, Family Allergy and Asthma’s IT director was tasked with rolling out telemedicine to enable providers to treat patients who were sheltering in place.
“Suddenly our IT director had a huge project to implement, and a growing number of invoices to approve in Stampli. Because we have full visibility into all invoices, we were able to identify which ones required his approval, reduce his load, and enable him to focus on other projects.”
How Family Allergy & Asthma Stepped It Up
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