Optimizing Accounts Payable for a Healthcare Organization

Client Profile:
A leading healthcare organization headquartered in Atlanta, USA.

Challenges:
• Invoice processing delays of up to 3 months led to pending payments and strained vendor relationships.
• Invoice turnaround time was consistently 15–20 days, causing inefficiencies in accounting and financial reporting.

Solution Provided:
• Conducted a comprehensive week-long training on AVID Exchange for faster invoice processing.
• Streamlined the Accounts Payable process to reduce bottlenecks and accelerate invoice approval and payments.

Outcome:
• Reduced Turnaround Time: Invoice processing time dropped from 15–20 days to just 5 days within the first month, and further reduced to 2–3 days within two months.
• Cleared Backlog: Resolved a 3-month backlog of unpaid invoices within one month.
• Improved Vendor Relationships: Achieved timely payments, fostering stronger relationships and better negotiation terms with vendors.
• Operational Efficiency: Enabled faster cost accounting and timely closure of books, improving overall MIS accuracy and reducing delays in financial reporting.