This company solves the world’s most critical problems for thriving cities, resilient environments, mission-critical outcomes, operational advancement, scientific discovery and cutting-edge manufacturing, turning abstract ideas into realities that transform the world for good. Leveraging a talent force of approximately 52,000, they provide a full spectrum of professional services including consulting, technical, scientific and project delivery for the government and private sector. One of the services they perform is Facilities Maintenance and Construction.
This company manages services, construction, and equipment rental for multiple sites nationwide. The large team of Procurement Experts managed and acquired thousands of vendors to complete projects at the various sites. The Procurement Team was using primarily email to issue Purchase orders and manage invoicing and payment details. With more than 5,000 vendors to keep track of, each with multiple payment addresses, varying invoicing standards, and strict federal guidelines to follow for vendor certification, their existing methods were creating data loss and significantly delaying invoice payments, causing the company to lose revenue by missing out on on-time payment discounts and late fees. Invoices would be sent to a single or multiple email addresses or directly to buyers and would need to be sorted, reorganized and entered manually by a third-party data entry service, creating data entry errors, misapplied payments, and invoices being lost altogether.
“Using [company’s] online portal to process invoices has been easy and intuitive. The portal has an excellent overview of all necessary parts of the invoice (purchase order, calculations, contact information). Compared to other large name invoicing sites, this method has been a joy to use. I recommend the use of this system to any company looking for a good system to transact with their customers.”
Enterprise Invoicing Portal Built In Quick Base
Quandary Consultants analyzed the existing processes for weaknesses and strengths, focusing heavily on communications and revenue problems the company was facing to build a large scale comprehensive, Quick Base platform for both the procurement specialists and their many vendors. Buyers could finally keep track of their extensive lists of contacts, saving all their associated addresses, certifications, payment information, and purchase order qualifications in one location. The new system was developed using Workato to integrate the existing accounting framework and pull over data to Quick Base, as well as streamline the process for adding new vendors or vendors whose information had been lost in the previously disorganized email transactions. Connections were built to connect Quick Base directly to Accounts Payable, relieving Buyers from the tedious exercise of locating, reorganizing, and sending invoices manually. Purchase Order issuance was systematically tied to vendor certifications so that no more PO’s were sent out to vendors who did not meet the strict guidelines, causing confusion and frustration on both ends when invoices were denied payment or services had to be delayed or canceled for lack of qualification. Vendors were invited to the new system to submit their invoices electronically, with over 1,000 invoices submitted in the first 3 months.
- Reduced approximately $6000.00/month in costs to third party invoice entry service
- Tied invoicing access to Vendor Certification to resolve rejected invoices for certification reasons
- Reconciled duplicate data existing in multiple programs and spreadsheets to one location
- The decrease in Invoice turnaround time
- Reduced AR days from >60 days to <20 days
- Less than 1% of invoices paid late – down from 20%-30%