how to automate payables using hubdoc, bill.com and quickbooks
TRANSCRIPT
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Automating Payables UsingHubdoc, Bill.com & QuickBooks
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Leslie JorgensenFounder & CEO, Supporting
Strategies
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Jamie McDonaldCo-Founder & Co-CEO, Hubdoc
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Our VisionNever chase bills & statements again
No more data entry
Audit proof your business
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Traditionalback-office
Rearview mirror approach to cash-flowYear-end rush around tax timeShoe-box of financial docs
Once-a-year interaction with advisors
Limited visibility into accounting cost
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Modern equivalent
Real-time financials throughout the yearDigital documents & data managementForward-thinking approach to tax
Ongoing trusted advisor relationshipFixed accounting cost
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Automated Accounts Payable Processing
an example of Collaboration that’s possible with cloud-based Accounting Systems:
INTAKE &PROCESSING
APPROVAL &PAYMENT
ACCOUNTING
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Old way: manual bill processing
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Old way: manual bill processing – the reality
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• Cost = variable– Storage/filing, postage, server, bike messenger
• Efficiency = inefficient– Time consuming – data entry– Liability – no audit trails, no access control
• Morale = low– Role is mostly administrative, time consuming to deal
with clients’ messy financials
Reality of the manual process
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New way: leveraging software to reduce the time spent processing clients’ payables by up to 60%
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The New Process• Cost = fixed
– No guesswork, no legwork• Efficiency = high
– Time savings, no duplicate data entry– Audit trails, role-based access
• Morale = high– Take on role of advisor: teach clients how to manage
their business
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Workflow Demo
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The Playbook for Automating Payables
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Planning• Map out workflow and identify where you’re
spending the most time and resources• Leverage benchmarking studies and surveys to see how you
compare and identify gaps (talk to your peers!)• Reduce or eliminate paper-based processes -
invoices, bills, checks• Better manage fraud• Time savings: eliminate data entry, faxing, copying, and
routing of invoices• Remote access to all data
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Creating End-to-End Payables Automation • Use technology to solve pain points
• Reduce errors from manual processing• Approvals can be dealt with instantly, efficiently, with
automatic routing and processing• Greater oversight of the process for your firm
• Evaluate tools• Learn what to look for and what questions to ask
• Determine operating metrics that support your priorities
• Process Costs, automation improvements, error rates, fraud & duplicate payments, financial controls
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Be an Advisor• Focus on value-added services for clients
• Interpreting their financials helps them grow faster or reduce costs
• Give clients real-time visibility into their business• Increases staff retention and frees them up
• Provide higher quality service and generate more revenue
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Vip Account for YouOne free Hubdoc account for Accountants & Bookkeepers
Simply sign up atHTTPS://APP.HUBDOC.COM/SIGNUP
Once you love Hubdoc, begin adding your clients
Supercharge your practice!
Jamie McDonald
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Let’s talk!
@Hubdoc Calendly.com/Hubdoc 1-800-577-2842
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Thank You + Q & A
Leslie Jorgensen
Jamie McDonald