RDO Equipment found the right technology to get its AP processes in check.
This family-owned industrial machinery distributor needed to standardize processes and improve collaboration across more than 60 locations after a decade of dramatic growth.
RDO Equipment implemented FileBound’s document and workflow automation technology to help centralize their accounts payable operations. In addition to eliminating inefficient paper invoice processes, the company dramatically simplified compliance audits for their staff. The company continues to expand FileBound’s capabilities to other departmental functions, including accounting reports, receivables and credit, check images, a journal entries.
Benefits of FileBound for this organization:
- The company was able to support rapid and significant company growth while cutting new hiring needs in half.
- When the company switched to a CDK Global enterprise resource planning (ERP) solution, staff was able to easily reconfigure the previous FileBound integration to support the new software.
- After seeing the AP department’s success, other business areas adopted FileBound to improve their processes, including other accounting reports, receivables and credit, check images, and journal entries.
The challenge
After a decade of impressive growth, the Accounts Payable team struggled to keep up with the volume of documents that had to be distributed to various locations. AP department employees were crowded with cabinets and rotating boxes of documents, and inefficient processes sometimes meant lost or delayed payments. The company realized that manual, paper-based processes could no longer meet the efficiency needs of a geographically dispersed enterprise.
How they did it
Before using FileBound, invoices would have to be sent to the locations where approvers would write on the documents and send them back to the Field Support Office in Fargo, North Dakota, for processing. The process was inefficient and made tracking down documentation to support periodic audits a headache for staff.
Now all incoming invoices are sent to the central AP department and automatically stored in the FileBound system, enhancing security and improving accessibility in one step. During audits, the auditors are provided with temporary secured access to FileBound to complete their research.
The results
Now the AP team of 12 employees can easily manage thousands of invoices each month in addition to their other responsibilities. FileBound’s workflow capabilities allow hundreds of people across locations in nine states to efficiently participate in the invoice approval process.
“FileBound has become the trusted tool everyone goes to and utilizes. We never imagined the user adoption could go so smoothly, and we couldn’t do as good a job without this technology. I’m sure we’d need twice the number of people on our team if we didn’t have FileBound.”Evie Fletcher
Accounts Payable Manager
RDO Equipment
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