AP Automation: Saving Homebuilders Time, Money & Aggravation
Like many other organizations in various other industries, homebuilders are continuously burdened by paper-based accounts payable (AP) processes. The manual data entry these processes require leads to costly, time-consuming errors that hinder business growth.
Fortunately, a solution is right at your fingertips: accounts payable automation.
Ivory Homes, a top-rated, Utah-based homebuilder with thousands of happy customers took advantage of MetaSource’s AP automation software solution and ended up with less stress and work, and more time and money.
The Problem with a Paper-Bound AP Process
Before adopting an automated solution, Ivory Homes struggled to manage the growing complexities of a paper-based accounts payable process. The company faced several AP challenges, including lost and duplicate documents, limited bandwidth to manage the growing volume of paper invoices, and a staggering 170 linear feet of 3-foot-deep, 6-foot-tall filing cabinets. To amplify the bottleneck, the company was printing email invoices, adding once-digital files to the stacks of paper AP clerks had to manage.
“Overpaying by a factor of 100 was the moment we decided to get an outsourced solution.”
– Nick Jeppson, Ivory Homes Controller
All of this paper led to missing and lost documents, invoice overpayments, shortages of office space due to rapidly expanding paper files, and unnecessary time and money spent on a process that was anything but streamlined.
The Solution to Your Paper Woes
Controller Nick Jeppson immediately recognized that the AP system wasn’t sustainable when he joined Ivory Homes in 2020. However, one mistake in particular spurred the company into action.
“The straw that broke the camel’s back was when an AP clerk who was rushing to enter an invoice we received for a few thousand dollars accidentally keyed it in with a few extra zeros,” said Jeppson. “Overpaying by a factor of 100 was the moment we decided to get an outsourced solution.”
Jeppson interviewed multiple companies before choosing MetaSource, citing a good fit in our team’s AP automation expertise, as well as the visibility provided in our software.
By partnering with MetaSource, Ivory Homes was able to completely transform their accounts payable process and they continue to reap the benefits today. To learn more about Ivory Homes’s journey from a paper-reliant AP process to an automated, streamlined one and to uncover the many benefits of this transition, download our free case study. You’ll discover the invaluable results the Utah homebuilder achieved and learn how you can achieve them too.