Full Transcript

Hi. My name is Nicholas Wong and I’m with Rillion. My name is Jess McPhail and I’m with Rillion one as well. Rian is an AP automation software, which is designed to simplify the processing and approvals of your accounts payable invoices. So we provide them with a single login with which they can manage all of their clients.

Their clients would be separated by individual organizations within the tool, allowing them to sort of be on their own. But the accountant would have the ability to see across all of them and manage the approval workflow for each one of their clients. It’s a, the gain for the client would be a much quicker approval workflow.

They also don’t have to worry about doing any sort of the data entry that’s involved with processing invoices. So, you know, at at face value, AP automation is pretty similar across the board. You have your OCR for extracting data, you have your workflows, and of course, integration back into QuickBooks.

We are the devil’s in the details and that’s where we differentiate ourselves. Starting first with being able to get the actual invoice image from Rillion over into QuickBooks Online rather than simply a hyperlink. We also give you more options for coding, being able to create templates that have distributions, maybe multiple classes or multiple GL’s, available to be auto coded based on different criteria set within your parameters during implementation.

We also make it easy for you to have different workflows and configure it such that maybe your utilities would just have a single approver. However, something like computers, the software would know that based on the vendor or maybe the date parameters to involve four people in the workflow instead of just the one while still incorporating the potential for dollar threshold hierarchy.

I would say the other differentiator is our ability to connect with QuickBooks online in five minutes or less. We would sync each company’s list of vendors or suppliers, any class customer location list. And it’s a bidirectional sync, so only fully approved invoices will go over to QuickBooks online as bills.

And the invoice image, as Nick mentioned, lives in both places. I would say with the non PO based invoices it would be about a 30% time savings,  for purchase order based invoices. We do handle those as well. It can match at the line item level, and I would say that’s closer to a 50% time. Because you’re no longer having to go through every single line one by one trying to find discrepancies.

Instead, you’re really just managing the five or 10% or so that don’t actually match. Yes, absolutely. So we are ERP agnostic. QuickBooks of course, is one of our favorites to work with, but, NetSuite dynamics, whether it’s the on-prem or the cloud solutions like Business Centro, Sage, Xero, NetSuite, Oracle.

As well as smaller ERPs that will accept  a GL extract file that’s Excel-based or xml. so we could work with smaller ERPs as well.

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Insightful Accountant