Rapid Growth and Expanding AP- Cumulus Media's Plan for Growth
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kevinp
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Cumulus Media was quickly outgrowing their paper based accounts payable (AP) process. As the second largest radio communications company in the nation they needed a way to process 10s of thousands of AP invoices every single month. With massive invoice volume, a large number of users and a complex approval workflow they needed a system that was both robust in it's function, and customizable to how they do business. ePayables from Fidesic was exactly that system.
To exacerbate the challenges facing their AP department, Cumulus was looking to grow (and grow quickly.) With nearly a 25 percent market growth over night, they needed to address their AP concerns and do so without it ballooning into a year long project. Enliven's record for quick implementations were yet another reason they chose to go with ePayables.
The full implementation process of over 200 users, dozens of regional markets, and thousands of invoices was done in Q1 2012. This process included hands on training, customized training documents, and a hands on approach that only Enliven can achieve. In a few short months Cumulus had taken their AP process from a completely manual, paper based one, to one that leads the industry in efficiency.
Results.
Cumulus was able to grow their business by over 80 regional locations, and over 4000 invoices without having to hire a single new person in their AP department. Their AP department can not only manage more invoices using ePayables, but they can manage them in a more efficient manner. AP staff can review, approve, modify, reroute, ask questions and over ride approvals on invoices from ANY location. As long as they have an internet connection, they are able to keep on top of their AP approvals and management.
Beyond helping their approval and document management, Cumulus now has a window into the current state of their AP process. They have easy access to reports which can show show them current pending approvals based on location, invoice reports based on due date, a current AP snapshot, and access to a monthly accrual report which integrates directly into GP (making end of month a much smoother process.)
Cumulus Media has taken control of their AP. They have a documented process for all approvals, electronic backups of all invoices stored in an off site location, access to easy and powerful reports, and has room to grow their business without having to worry about expanding the payroll of their AP department.