Challenge:

A national manufacturer/retailer had retail stores, as well as several manufacturing facilities across multiple states.  They wanted to utilize RadiusPoint for their utilities, but were afraid this would mean eliminating a position in their AP department.  Add to that, yearly growth organically, and through acquisition at the rate of almost 100 stores per year.

  • Routinely handling over 30,000 invoices monthly.
  • Not enough time to review Vendor Statements monthly.
  • Started with 500 stores.
  • Growth would have taxed AP staff heavily without assistance.

Opportunity

RadiusPoint’s expertise in expense management had the necessary technology to process, audit and pay all the utility invoices, as well as a robust MACD Help Desk system for adding new locations painlessly.  RadiusPoint’s proprietary software, ExpenseLogic was also capable of automating the big reports necessary for budgeting, forecasting, and energy conservation, etc.

Solution

RadiusPoint was retained to process and pay all of the utilities for all stores, as well as set up all new locations during acquisition and growth, ensuring that the services were changed over.

What did we accomplish?

  1. RadiusPoint was able to process and pay all their utilities, with the added benefit of a monthly audit on all charges.
  2. The current AP team had time to review all other monthly vendor statements, and ensure accuracy.
  3. No invoices were dropped, or services disrupted, on any stores during acquisition, as RadiusPoint processes took care of it.
  4. The need for two additional staff to handle all the new locations was averted due to RadiusPoint’s assistance.

End Result

RadiusPoint is able to eliminate their pain points, all while driving a positive Return On Investment, year-over-year, averaging around 500%.