AP Automation Helps Long-Running Manufacturing Business Meet Today’s Challenges
Headquarters in Commerce City, CO
Founded in 1919
Like many organizations, A.R. Wilfrey & Sons has moved toward automated solutions in recent years. Founded in 1919, the industrial pump manufacturer has remained a leader in its industry through constant innovation. When it came time to automate its accounts payable (AP) process, general accountant Adam Paszkewicz was heavily involved in the transition.
Taking AP from a decades-long paper-based process to full automation seemed a daunting task initially. But working with Centreviews, the team found that the transition went much more smoothly than they’d expected. Recently Adam spoke with us about his own experience with AP automation, describing life before and after the transition.
Prior to the new system, the accounting team was dealing with an inefficient, paper-based system. The accounting team wanted to operate more efficiently, while also reducing the amount of paper waste around the office. Recently, Adam saw a check run made up of 66 checks and realized the significant paper savings his team had seen since automating. Instead of handing over 66 pages with backup pages for each one for approval, approvals can be done electronically, saving time, money, and the environment.
“Now I pretty much just send our controller a three-page report and if he has questions on any of them, he can go into the system himself and look them up. So, I think the efficiency and then the paperless aspect for it are the two big ones.”
Originally, the A.R. Wilfrey accounting team would receive an invoice that they would either process or hold for ten days, depending on whether there was a matching purchase order (PO). If the invoice went on hold, Adam would be required to personally follow up on why no PO had been received. With the new system, the team can see immediately which invoices have matching POs and take appropriate action.
“It’s definitely helped a lot as far as all the stuff coming into one place and then everyone being able to see everything that’s out there, that’s a really nice piece of it. Getting info to the right people a lot quicker is a huge help for the system.”
In choosing a system, paper reduction and improved efficiency were top priorities for A.R. Wilfrey’s team. The new system is so efficient, Adam has even found that it has helped the company enjoy the discounts offered in exchange for paying invoices in a timely manner. It also helps the accounting team better serve its customers by speeding up payments and providing transparency during each step of the process.
“The main thing that I like is that everyone gets the info to them right away, instead of different folders piling up for me when they hear back from someone about an approval,” Adam says. “If someone’s calling me, asking about payment status, I can go find them pretty easy.”
With Centreviews in place, A.R. Wilfrey & Sons can be more productive without investing in additional staff or resources. This technology will continue to scale as the company tackles the many future changes that come its way.