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B2 Dental Solutions is a fast-growing dental management and practice development company. Operating under a franchising model, they provide services to MB2 members that allow dental practices to focus on their core mission of delivering care while spending less time focused on daily office management tasks.
MB2 provides back office assistance to dental offices, delivering the benefits of partnering with a larger organization while the individual practices maintain their independence.
Part of their service includes paying bills.
As they were growing, MB2 needed a way to process thousands of monthly accounts payable invoices without adding additional overhead.
They were using QuickBooks as their accounting solution and Bill.com for accounts payable.
“We found that QuickBooks will only go so far before we would break it, even with just 80 entities,” said MB2 Controller Sarah Sawyer. “Each entity was its own company and running a report across all of them, QuickBooks would frequently crash. With Bill.com, we had to go in and sync everything individually to each company instead of doing one large sync."
The company grew to 250 locations within a year and would eventually grow to 500+ within two years. To do that, their accounts payable department need to scale to and be able to process 30,000 vendor invoices a month.
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ith frequent timeouts and constant frustrations associated with QuickBooks, MB2 began migrating to Microsoft Dynamics GP.
They knew they needed an AP solution that would work with seamlessly with their Great Plains solution. They were also implementing Binary Stream Multi-Entity management to simplify their entire centralized accounting process.
“We tried taking Bill.com over to GP but unfortunately, they wanted us to download 4 files per entity to upload into GP," said Sawyer. "At minimum, that would have been 400+ files to be downloaded a day. That was definitely not going to work for us.”
It quickly became clear to Sawyer and the Anchor Group that MB2 needed an AP automation solution built for Dynamics GP and they needed one that would support their Binary Stream MEM solution with seamless integration to both GP and MEM.
“Any extra work or manual data entry between these systems was a non-starter for us,” said Sawyer.
In addition to seamless integration to Dynamics GP and Binary Stream, MB2 had very specific needs for their AP solution.
MB2 was struggling to find an invoice capture system that was able to meet their entity-based needs.
They also needed approval workflows that were able to route by location or entity
They needed a pay fulfillment solution that could handle ACH and paper check and would pay from multiple bank accounts directly to vendors, with no 3rd party intermediary.
After comparing several solutions, Fidesic became the clear solution to meet all four of their most critical needs. Integration, Data Capture, Location Based Approval Workflows and Multi-Account Pay fulfillment.
“Fidesic and MEM have brought us into the 21st century. With MEM and Fidesic, it’s super fast,” said Sawyer. “The great thing about Binary Stream’s MEM is you can look at all your companies in one smart list, in one report. And then you can dig down into that if something doesn’t look right. Especially if I’m looking for an invoice that I know we’ve received but somehow wasn’t posted in the right entity, I can look across all entities and see where that invoice is. I can do a search.”
Fidesic was able to address each of MB2's primary objectives in a unique way - all without changing how they utilize features built into GP and MEM.
The easy-to-use features and functionality of the Fidesic platform ensured that MB2 Dental Solutions addressed their primary issues and had a smooth onboarding process.
“When you’re in growth mode, a lot of times you’re in panic mode, trying to get everything correct and get bills paid on time. Fidesic came in and really helped us with that,” said Sawyer.
“Fidesic literally saved our sanity. It is so much easier to use and integrates with our software,” she added. “It is web based and built on the Azure cloud so it can be used from anywhere, and we can give access to our member users who want to review their invoices and payments without emailing the AP department for help.”
Three weeks after MB2 decided to go with Fidesic, they were able to automatically capture invoice data, get electronic approval, and push that data directly into their Dynamics GP accounting system.
Since implementing Fidesic in 2020, MB2 has doubled in size to more than 500 locations without having to hire Accounts Payable Clerks to process invoices.
“Having implemented Fidesic, we have been able to trim our invoice processing from 10 days to 5 days,” said Sawyer. “The automatic coding of invoices in the system has really helped improve efficiency as well."