Overview
Data Entry & Processing
Accounts Payable Management for a Medical Device Company
Managing the accounts payable process for a medical device company. Privately-held manufacturer of medical devices, with 100+ year operating history and annual revenues over $500 million.
Challenge
Effective AP Staff Retention for High Performers Impacts Processing Times
A privately-held medical device manufacturer encountered staffing and performance challenges that directly impacted its business relationships. The client had an operating history of 100+ years and annual revenues of over $500 million, but with longevity and growth came employment obstacles new to their controller and CFO.
The client’s accounts payable staff presented struggles with retention and performance management as the department became chronically understaffed. The nature of the client’s business included AP processes that required reliable human judgment and timely manual intervention. The company also needed to process a high volume of invoices for payment. Plagued with unreliable, underperforming internal staff, the client strained to keep up with demand and requirements with accuracy. As a result, their suppliers and vendors were continuously disappointed with their processing time.
Solution
Filling the Staffing Void with Reliable Assivo Support Teams
Assivo evaluated the client’s staffing challenges and allocated 5 full-time associates to handle invoice processing and accounts payable approvals. This immediately filled the client’s staffing gap in its own internal accounts payable team. Assivo project management quickly learned the client’s specific rules and procedures and then integrated the team into a system that had been established for years. Assivo personnel became a seamless part of the client’s team and proved adept at managing the overflow in invoice processing.
Result
Reduced Strain and Timeframes Lead to Increased Efficiency and Expansion
The Assivo team’s accuracy, reliability, and affordability led the client to shift its entire accounts payable function over to Assivo for management and administration. The client found that outsourcing AP services created greater efficiencies, reduced internal strain managing staff and mitigating turn over, and lowered overall expenses related to invoice processing. The client ultimately expanded its relationship with Assivo by increasing the team size to 12 full-time associates and has eliminated errors and delays that negatively impacted its own business relationships.
Define
Share your unique challenges and work requirements, and we’ll create a custom proposal just for you.
Test
Start with a pilot program to see your workflow in action, and we’ll discuss your feedback along the way.
Launch
Go live with a fully trained team of outstanding Assivo staff. Your dedicated team will be overseen by a capable project manager to ensure your needs are met.
Manage & Scale
Provide feedback & growth metrics, and we’ll manage your team’s productivity, work output quality, and size.