Pet Partners Digitally Transforms Accounts Payable Process with Kofax TotalAgility
Network of 83 Pet Clinics Centralizes and Simplifies Invoice Processing; Achieves ROI in Less than 18 Months
Irvine, CA, October 3, 2017 – Kofax®, a leading provider of software to simplify and transform the First Mile™ of business, announced that Pet Partners, a fast-growing community of veterinary hospitals, has deployed Kofax TotalAgility® to revamp and centralize the accounts payable (AP) system for its expanding network of pet clinics.
Pet Partners provides each of its 83 neighborhood animal hospitals with a wide suite of business management support services. The network utilizes Kofax TotalAgility, a unified digital transformation platform, to automate invoice processing for all of its pet hospitals. Paper invoices are now scanned at local offices upon receipt and uploaded to a central network. Similarly, electronic invoices are routed to a dedicated email inbox. The resulting data is automatically imported for processing enabling accounting staff to review and approve more than 6,000 invoices monthly, and access dashboards and reports from a single web-based portal.
Pet Partners’ Kofax solution is tightly integrated with its existing accounting system, allowing invoices to be cross-checked against vendor and general ledger records in real time, for faster, more accurate validation. The invoices then progress through an approval process based on business unit and dollar thresholds. Upon approval, the invoice is exported to the accounting system for payment.
“When you combine the potential future benefits with the efficiencies we have already achieved by enhancing our AP processes, it adds up to a very compelling value proposition for our hospitals. TotalAgility gives us the transparency, control and efficiency we need to scale operations and keep everything running productively behind the scenes,” said John Schroeder, CIO of Pet Partners. “As a result, we can support more veterinarians and their teams in delivering a superior care experience for pets and their owners.”
To gain better insight into the effectiveness of its newly digitized AP processes, Pet Partners takes advantage of Kofax Analytics for TotalAgility™. With a newfound understanding of its operations and enhanced efficiency, the company has achieved a return on its investment in less than 18 months.
“The significant growth of its affiliated network of veterinary clinics required Pet Partners to rethink and digitally transform its accounting processes,” commented Reynolds C. Bish, Chief Executive Officer of Kofax. “Kofax TotalAgility delivered the depth of capabilities necessary to dramatically accelerate AP cycle times, ensure that invoices are paid within terms, and provide new insights into purchasing data and trends to improve procurement practices. The company can now make more informed, targeted improvements to continue to maximize efficiency.”