Bilanz

Who are Bilanz?

We assist our clients with all everyday accounting processes, from data entry to managed accounts payable, accounts receivable, BAS compliance and payroll. We look for ways to ensure that your business is operating as efficiently as possible within the scope of the business needs while establishing processes to enable you to grow effectively. We love what we do and we absolutely love being a trusted partner with all of our clients and business solutions suppliers alike.

What were the pain points you needed Lightyear to solve?

Migrating your accounts payable function into a cloud environment is a no brainer with the evolution of accounting software. A sticking point in this regard, however, can be the time required to process paperwork, along with accurately capturing the level of detail which can be translated into reporting for business. 

Were you previously using an Accounts Payable solution, if so, what was it and why have you moved?

As an accounts payable service provider, we have used all sorts of software and methods for processing accounts payable including but not limited to; Dext (formerly ReceiptBank), Hubdoc, Accounting Software solutions (i.e Xero email in to bills/files), Workflow Max, Podio and a myriad of other software solutions! 

Why have you chosen to implement Lightyear?

Lightyear has provided us with an all-round AP solution which we have not found elsewhere, namely; automating processing, approving and exporting invoices, statement matching, communicating with suppliers, extracting bank and payment information. Lightyear takes care of every AP step from ordering, to processing bill, to managing stock and ultimately to paying suppliers and reporting to a level of detail which has otherwise been time-consuming, inaccurate and clunky in the past.

Did you Find Lightyear easy to implement?

Yes

Did you encounter any initial objections from staff, if so what were they and how did you overcome them?

As agents engaged to assist businesses in this process... I can categorically assure you, there has been nothing but 'oh thank goodness' from our office!

Were you happy with the level of customisation available to you?

There are certainly some areas where the customisation could be a little more extensive, but it's been a great place to start.

Pre-lightyear, how long did you spend on these Accounts Payable tasks?

• Manually entering in data into accounting software per month:  20-30 Hours
• Getting approval to pay 1 bill:   7-10 Days
• Finding 1 supplier invoice:   5 Minutes
• Compiling accurate financial reports:   4+ Hours

Since implementation how long is your team spending on the same Accounts Payable tasks? 

• Manually entering in data into accounting software per month:  
• Less than 2 Hours
• Getting approval to pay 1 bill:   1-2 days
• Finding 1 supplier invoice:  Less than 1 minute
• Compiling accurate financial reports:   Less than 1 Hour

Since implementing Lightyear, on average, how many supplier bills did you need to go back and fix errors with your Accounts Payable data in your accounting software? 
10 - 20%

What percentage on costs are you saving on your overall accounts payable functions and have you been able to take advantage of early payment discounts?

We have not seen a difference in the number of early payment discounts and are saving on average 20-30% on Account Payable costs.

What would you say to someone who is potentially transitioning to Lightyear?

As with all software, start as you mean to continue. Make sure that you set your files up correctly to get the most out of your process. ALWAYS consider what is happening on either side of the process, this is a good time to assess your accounts payable process as a whole.

Out of 5 how many stars would you rate Lightyear?

5*