Accounts Payable Automation
Improves National Media Company Operations
MILK STANDS AT THE CROSSROADS OF THE FASHION, MUSIC, PHOTOGRAPHY, AND FILM WORLDS. A MEDIA COMPANY BASED OUT OF NEW YORK AND LOS ANGELES - MILK SPANS CONTEMPORARY CULTURE AND IS A HUB FOR NURTURING CREATIVITY AND SUPPORTING PARTNERSHIPS WITH SOME OF THE INDUSTRY’S MOST VISIONARY TALENT AND INNOVATIVE BRANDS.
Milk Studios’ headquarters in New York was preparing to move the accounting office to New Jersey and needed a faster and easier accounts payable process. With offices in New York, New Jersey, and Los Angeles, Milk Studios needed a better way to manage over 150 invoices per day. They needed a new and improved accounts payable software. It was getting too hard to track the progress of invoices and approvals through email. Everyone recognized that Outlook was not the best tool for effective accounts payable workflow.
The Accounts Payable Manager knew that something needed to change. They needed a solution that would allow them to easily access and share documents securely between multiple locations and people without adding more applications and servers for their IT staff to maintain. She also knew that the system has to be up and running quickly. The application also needed to allow for a rules-based workflow to route and track invoices as the approvals progressed.
As a result of their new accounts payable system, Milk Studios is now able to:
- Reduce the time and number of steps required to process invoices for payment.
- Reduce frustration by allowing staff to instantly know the status of the invoices.
- Reduce the number of duplicate payments, missed payments, and missed early payment discounts.
Our accounts payable procedure and scripting allows Milk Studios to easily manage their vendor lists, approval thresholds, and accounts that users are allowed to post against.
At the end of the process, the invoice data is imported into their accounting system to speed processing and eliminate duplicate data entry.
For more information on how we can improve operations in your organization reach out to us at 866.367.3467 extension 1.