An automated review and approval process enabled by Nautilus® from Fiserv helps Granite State Credit Union to pay vendors faster and spend far less staff time and resource on the task.
Granite State Credit Union’s manual process for reviewing and approving invoices was time-consuming and inefficient, causing delays in vendor payments and using staff members’ time unproductively.
The credit union implemented Nautilus across all eight branch locations in June 2011. Now invoices are received centrally in accounting, scanned into Nautilus, and routed electronically to the right person for review and approval. Automated workflow keeps the invoice moving in a timely manner without manual intervention.
Nautilus has streamlined invoice review and approval, delivering tangible benefits as a result.
- Vendors are paid at least two weeks sooner than before.
- The number of vendor inquiries about invoice payment has decreased.
- The process of researching a vendor payment history has gone from an hour or more spent manually searching file drawers to just minutes to perform an electronic search.
- Accounting staff avoids lost time previously spent searching for missing invoices.
- A multi-level review process helps manage and control expenses without slowing the process.