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Superior Masonry cements AP efficiency with Stampli and Sage Intacct Construction
About Superior Masonry
Superior Masonry is a construction firm specializing in masonry work across various projects. With a growing operation processing around 300 invoices per month, the company faced significant challenges in managing its accounts payable processes efficiently while adhering to the unique requirements of construction accounting.
The Challenge & Solution
Challenge
In an industry notorious for its reliance on paper-based processes, construction companies often struggled to keep pace with the demands of modern financial management. Superior Masonry was no exception to this trend.
When Bethany Thomas joined Superior Masonry as its Project Coordinator, she walked into a daunting scenario that many in the construction industry would find familiar. “On my first day, I walked into a huge stack that they had so kindly saved up for me – months and months of invoices,” Bethany recalled.
The manual nature of their AP process created a ripple effect of inefficiencies. Invoices would arrive via various channels – email, physical mail, or forwarded from different departments – often leading to delays and lost documents.
Matt, the company’s CFO, highlighted the broader impact of these inefficiencies: “We’ve never been able to stay on top of our job costs because it just keeps swelling because invoices get all backed up.” This lag in financial data affected their ability to recognize revenue accurately and make informed decisions about ongoing projects.
As Superior Masonry looked to grow, they realized their manual AP processes were not just inefficient – they were a significant barrier to scaling their operations and maintaining financial control. They needed a solution that could work with Sage Intacct Construction and handle the unique aspects of construction accounting, such as cost codes and job costing, while dramatically reducing the time and effort spent on invoice processing.
Solution
“Stampli has delivered on everything they said they would,” Matt enthused, reflecting on the transformation of Superior Masonry’s AP processes. “We can process our cost codes, we can put our POs in – really everything that we’ve been sold, Stampli has been able to do.”
After an extensive search for the right solution, Superior Masonry implemented Stampli, and the impact was almost immediate. Stampli was the only AP automation solution the company found that could easily integrate with Sage Intacct Construction, and support all the construction fields used today. Stampli is the only AP automation provider validated and certified by Sage itself for Sage Intacct Construction, including our support for retainage, job estimates, change orders, cost codes and other SIC-specific functions.
Stampli’s AI-powered features, particularly Billy the Bot, played a crucial role in automating many of the manual tasks that previously consumed so much time. The company saw a significant reduction in average invoice processing time, bringing it down from up to two weeks to just a single day in many cases. “Within a week, we saw Billy recognizing vendor names, the invoice amounts, the invoice dates. It’s just a huge time savings to have that part done,” Matt noted.
Perhaps most importantly, the streamlined AP process has made Superior Masonry more organized and accountable, saving $10,000 per month by catching vendor overcharges and items never received. With improved visibility into task ownership, faster invoice processing, and quicker vendor issue resolution, Superior Masonry has significantly enhanced its operational efficiency and ensures no invoices are ever missed.
Superior Masonry’s experience with Stampli represents a growing trend in the construction industry towards embracing digital transformation. As companies in this traditionally paper-heavy sector seek ways to improve efficiency, accuracy, and financial visibility, solutions like Stampli are proving invaluable.
Hear it from the customer
“We’ve never been able to stay ahead of job costs until now, and Stampli is one of the big drivers behind that because we can process invoices so fast.”
Bottom Line
Dramatic reduction in paper-based processes
Superior Masonry’s transition to Stampli eliminated the chaos of paper invoices, going from a manual, time-consuming process to a streamlined digital operation. This shift not only saved countless hours previously spent on scanning, data entry, and chasing physical documents, but also significantly improved invoice tracking and reduced the risk of lost or misplaced bills.
Full support for Sage Intacct Construction
Stampli’s ability to work with Sage Intacct Construction addressed Superior Masonry’s unique needs in construction accounting. This integration allowed for efficient handling of cost codes, job costing, and PO matching, providing real-time financial insights crucial for project management.
Substantial boost in operational efficiency
The implementation of Stampli led to an impressive improvement in Superior Masonry’s overall operational efficiency. With a 75% reduction in invoice processing time and savings of $10,000 per month from improved vendor charge oversight, the company achieved both time and cost efficiencies. The enhanced visibility into cash flow and job costs empowered Superior Masonry to make more informed financial decisions, ultimately supporting their growth objectives while maintaining a lean team structure.
How Superior Masonry Stepped It Up
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