Illinois CPA Society
Integrated expensing, invoicing, and payments solution helped this organization lead by example with added revenue and workflow efficiencies.
Founded in 1903, the Illinois CPA Society is a membership association comprised of over 24,000 CPA professionals representing the entire state of Illinois. Their members hold positions that include CFOs, Treasurers, and individual consultants working at accounting firms and financial institutions across real estate, insurance, and manufacturing industries.
Before implementing the Concur and Edenred Pay solution, it took three to four hours and four to five people to approve invoices, cut checks, and obtain check signatures.
They were using SAP Concur for their expenses and had successfully automated the expense reimbursement process. It seemed logical to take a look at how automation of the invoicing side could further enhance their workflow.
The Illinois CPA Society started looking at all the preferred partners of SAP Concur. What really attracted them to Edenred Pay was the all-in-one solution capabilities. Meaning that Edenred Pay was able to handle not only the virtual card payments but also checks and ACH payments. Some vendors still dictate how they want to receive payment. And the Illinois CPA Society was able to automate the process while still delivering the preferred payment method.
With Concur and Edenred Pay, both expensing and invoicing could now be managed from one platform providing incredible convenience. Users were able to have a single sign-in for their expense reimbursements and their invoices. And they were able to do all of their approvals instantly and from anywhere. Suddenly it didn’t matter if they were in the office or working remotely. Invoices could be approved and sent in real-time directly from the system.
The Edenred Pay implementation process was very smooth. It took about a week total and caused no disruptions to the regular day-to-day workflows. The customer support and vendor enablement were also seamless from the beginning. With a dedicated account manager, any questions or issues could be handled directly by someone familiar with the company and its customized solution.
It now takes significantly less time and requires half the number of people from invoice to payment.
When new vendors are identified they are typically enrolled on the system by the end of the day. Within the first week Edenred Pay had far exceeded vendor enrollment goals.
After six months using the solution, revenue has actually grown as a result of the virtual card rebate received each month.