It's all about the process. That's why the Outsourced Finance & Accounting practice group of Armanino LLP, California's largest independent accounting and business consulting firm, is using Bill.com to introduce more efficiency into its clients’ accounts payable process.
Bill.com has helped the firm reduce the time needed for bill pay each year by the equivalent of 9.6 work weeks. With the move to paperless bill pay with Bill.com, Armanino also saves its clients additional costs by eliminating supplies such as check stock, envelopes, printing cartridges and postage.
“As a firm, we are focused on introducing technology to improve efficiencies for our clients," said David Miller, CPA, director of Armanino’s Outsourced Finance & Accounting department. "Bill.com has helped on both fronts."
Before using Bill.com, Miller said that Armanino’s accountants spent an average time of 15 minutes per bill to complete the accounts payable process. The complete process included setting up vendors, processing the bills, printing and mailing the checks and responding to client and vendor questions.
Bill.com has helped the firm reduce the time needed for bill pay each year by the equivalent of 9.6 work weeks.
"Using Bill.com, we reduced that time by an average of 30 percent or closer to 10 minutes per bill,” he said.
Armanino found that, with Bill.com, the processing time for each bill decreased from 3.67 minutes per bill to 2.33 minutes or from 1,032 hours a year total based on an average of 1,400 bills a month to 648 hours per year – the equivalent of 9.6 work weeks.
Armanino requires that all Outsourced Finance & Accounting services clients use Bill.com for business payments. The firm integrates Bill.com with QuickBooks Online, Xero and Intacct. The firm has also helped its clients to elevate internal controls around bill payments.
“Rather than have one client’s employee handle the bill pay process from beginning to end, Bill.com and its automated workflow enable a separation of duties," Miller said. "This additional level of security helps to protect companies from potential fraud. “Additionally, the bill pay process isn’t paper-based, so checks no longer get lost on clients’ desks or come back. We can get approval online and have a bill paid within minutes compared to days or weeks with paper-based bill pay.”
Tanya Roberts, Bill.com's VP of corporate communications and accountant marketing, said that industry-leading accounting firms like Armanino create a valuable competitive edge by increasing AP efficiencies within their operations and for their clients.
"The question is no longer, ‘Will we move to the cloud?’" she said. "The question is now, ‘How can we use the cloud to maximize benefits for the firm?’ With valuable integrations, document management and automated workflows, Bill.com simultaneously reduces time spent on bill payment while increasing transparency and collaboration.”
To learn more about Armanino’s ROI with Bill.com, read this success story.
To try a risk-free trial of Bill.com, visit www.Bill.com.