Case Study: PR Asset Management improves AP visibility and invoice approval with Quadient AP by Beanworks

Beanworks yields returns for PR Asset Management's AP processes

PR Asset Management, an investment management company with over $2 billion in real estate assets, needed a better way to manage accounts payable. Steve Schultz, the Financial Systems Manager, was spending too much time sorting through data and filing cabinets to verify spending and cost activity, and the team lacked visibility into what expenses were for, who ordered them, and who approved them. PR Asset Management chose Quadient AP by Beanworks, part of Quadient, to automate AP while keeping control of the process.

With Quadient AP, PR Asset Management implemented a cloud-based accounts payable automation solution that integrated with its Yardi accounting software and approval workflow. The company began seeing 100% of the invoices it needed to approve, up from 30%, along with a 25% reduction in time spent coding invoices and an overall 10% reduction in costs.