Lightyear has recently been implemented within Flatland Energy as their first automated Accounts Payable solution. Flatland is an American energy company based in Alberta Texas that has been in operation for 26 years.
What problems did you need Lightyear to solve?
With their continued rapid growth, they realised that they were spending increasing amounts of time searching, approving and reconciling invoices and other supplier documents meaning that they were unable to focus their efforts where it could be most impactful. They needed a streamlined, efficient way of viewing and approving invoices that was easy to deploy and use and that didn't have a long drawn out implementation process. Their chosen solution would also need to be simple enough for all involved members of staff to use and have flexibility in terms of the levels of approval/amount of approvers per invoice.
As Flatland has been using Lightyear for a few months now, we contacted Office Manager Alli Moore to understand how much of an impact we have had for their Accounts Payable department and to see if we have resolved the problems stated above.
Did you take advantage of Lightyears onboarding program?
Since implementation of the Lightyear software Flatland have taken full advantage of our onboarding program and have had the appropriate staff fully trained on the system. They found the quality of the training to be beyond what they expected and the level of ongoing support was second to none.
They also found that there was very little, if any internal disruption to day to day operations during the transition period as they were up and running in less than 1 day. They stated that there was a slight learning curve with the system, however when they got their head around it they found it to be much more efficient and very user friendly.
Pre-Lightyear, how many hours did your team spend manually entering data into your accounting software per month?
When asked this, we were shocked to learn that it could be up to 80 hours. However since they transitioned this can be done in less than a minute as Lightyears world class data extraction AI technology will extract detailed line-item information for them. This will give Flatland an accurate, real-time overview of their business aiding with their forecasting, cash flow, reporting and inventory.
With Lightyears proprietary data extraction technology and inbuilt archive, they have had zero issues with missing, incorrect or duplicated invoices. This has freed up even more time for the Flatland teams as they are able to find any particular invoices in seconds rather than having to manually search through physical documents.
Would you agree that your approvals processes are more efficient and what benefits have you received?
Flatland found a huge improvement within their approvals workflow as they are always able to take advantage of early payment discounts with an approvals turnaround of 3-5 days. On average they are now saving up to 30% on their Accounts Payable functions including staff salaries, equipment, time spent chasing for approval, correcting errors and chasing missing invoices. They love that they can approve from anywhere with the companion mobile app and the @tag function that allows them to keep in constant contact with their team should a problem occur.
Have you found any other benefits to using Lightyear?
Pre-Lightyear compiling the financials into reports was a nightmare that could take as long as 5 hours, now it takes less than an hour. According to Alli all members of their Accounts Payables team can see the benefits of using Lightyear and have found the software easy to use and to be ‘a real time saver’.
These improvements to their Accounts Payable department means that they are now able to utilise their team in more efficient ways. They have been able to focus on re-training their team so they can further improve internal efficiencies and bring more benefit to Flatland as a whole. Overall they are 100% satisfied with Lightyear, from the usability of the software to the value for money and the quality of service they have and continue to receive.