How Hosted Network Reduced AP Processing Time by 50%
Hosted Network is an Australian wholesale cloud and telecommunications provider dedicated to empowering Managed Service Providers (MSPs). Established in 2003 and moving to a channel-only model in 2013, Hosted Network has collaborated closely with over 200 MSPs across Australia. Their mission is to simplify the delivery of cloud, voice, connectivity, and security services, enabling MSPs to offer comprehensive solutions without the complexities of dealing with major telcos.
With a partner-centric approach, Hosted Network prioritises transparency, responsiveness, and continuous improvement. However, the company’s biggest challenge was delayed month-end processes, which hampered their business operations. To address this, Hosted Network implemented an accounts payable (AP) automation solution that sped up processing and integrated seamlessly with their accounting system, Xero.
The Month-End Glitch
Benjamin Prentice, Group Financial Controller at Hosted Network, explained that the company’s biggest challenge was the significant time consumption by manual AP tasks.
“We were dealing with large supplier invoices that were very complex, often containing hundreds of transactions. The team had to upload everything to Xero and cross-check each transaction line manually. This took a lot of time.” said Benjamin.
Furthermore, Benjamin explained that he had minimal visibility, often leaving him unsure of the team’s progress as the month drew to a close.
“It would take ages to get the month-end completed. Billing would be done on the first day of the month, but supplier invoices would take another 3 or 4 days to process. By that point, we should have already closed the books on the 30th, but instead, the work was building up all month. Overall, we were losing around 4 days in our month-end process, which is quite significant for a company of our size.”
They tried Hubdoc to meet their needs, but it wasn’t sophisticated. Benjamin documented all the issues they were experiencing with the process and the platform’s limitations.
“The main problem was complex invoices. Hubdoc couldn’t handle more than one GL code or invoice at a time, whereas we often needed to distribute amounts across multiple accounts.”
Benjamin conducted thorough research on various AP automation software options. His investigation highlighted Lightyear as a standout choice.
“We wanted something to automate our AP processes. When I asked search engines what could work, Lightyear kept coming up as a suggested solution, and it seemed like it could meet our requirements.”
With automation, we can get those complicated supplier invoices in, set them up once, and then they’re done.
20-Day Control Before Payment
Benjamin highlighted that one of the main benefits of Lightyear was removing the clutter from their inbox, which significantly improved efficiency.
“The automation is probably the key thing for us. It allows us to handle complicated supplier invoices, set them up once, and then they’re done.” highlighted Benjamin.
Another major benefit Hosted Network saw with Lightyear is the introduction of a structured approval process for invoices. Previously, all invoices came directly to Benjamin, who often had to verify details like charges from NBN or other suppliers, a time-consuming task, especially with thousands of transactions. Now, invoices are routed to the appropriate team members.
“The ability to set up departmental approval processes has been a big win. Everything is consistent, structured, and easy for staff to follow. Invoices are now directed to the right team members, allowing them to review and approve at a suitable time rather than rushing at month-end. Even if approval isn’t immediate, there’s still plenty of time, usually 20–30 days, before payment is due, making the process much more manageable and efficient.”
One of the best things about Lightyear is just getting all the noise out of that inbox.
AP Processing Time Reduced by 50%
Lightyear has significantly accelerated Hosted Network’s AP processing.
“Before Lightyear, one of my team members was spending a day and a half each week purely on accounts payable, which was a very manual process. Since implementing Lightyear, that time has been cut by roughly half.”
When asked what advice Benjamin would give other finance leaders looking at Lightyear for AP automation, he said:
“I hadn’t really found anything similar before, and the platform is also very user-friendly, making it simple to train new team members. I’d definitely say give it a try and see what it can do.”
See how Lightyear can reduce your AP processing time
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