Bliss Point Media Leverages OpenEnvoy to Offload Nearly 90% of Manual Accounts Payable Tasks

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Nov 16, 2022, 07:00 ET

OpenEnvoy's AI technology enables video advertising agency, Bliss Point Media, to eliminate manual accounts payable work and achieve significant ROI.

OAKLAND, Calif., Nov. 16, 2022 /PRNewswire/ -- OpenEnvoy, the Bay Area fintech company, has helped Bliss Point Media (BPM) bring efficiency and scalability into their finance department with real-time AP automation.

In the past five years, BPM has experienced hyper-growth, creating the need to manage a high volume of variable-cost invoices.

"It was a natural progression to decrease the time spent on processing bills and increase the accuracy and turnaround time of these processes. We need to ensure that we have the resources to support the rest of our organization as it grows and guarantees vendors are paid on time", says Matt Cohen, VP of Finance at Bliss Point Media.

OpenEnvoy helped BPM capture significant financial results and efficiently automate the processing of thousands of invoices without increasing headcount or exerting additional resources.

"We are honored to have customers like Matt and his team at Bliss Point Media. Our combined efforts have resulted in an incredible ROI and a great product experience", says Matthew Tillman, CEO of OpenEnvoy.

In just six months, BPM achieved the following:

Automated workflows - 88% reduction in manual AP-related work.
Forensic-level invoice auditing- $925K in disputable discrepancies identified in real-time, enabling the team to prevent $206k in excess AP and capture $640k in more accurate AR.
Accuracy before payment- Over 4,000 invoices processed monthly, at the line-item level, with industry-leading accuracy of 99%.
Improved customer experience- Automated application of credit memos enabling BPM to prevent wasted spend for their customers.

"OpenEnvoy is a scalable solution that we are going to keep with us no matter what accounting system is used in the future. It has freed up time and resources to focus on integration...", says Matt Cohen, VP of Finance.

Are you ready to save big with real-time AP automation? Schedule a demo today.

About OpenEnvoy

OpenEnvoy enables finance teams of all sizes with visibility, automation, and cash flow solutions. To learn more about how OpenEnvoy can help you prevent wasted spend, visit https://www.openenvoy.com. Read more at Future FinOps or follow @OpenEnvoy on Twitter and LinkedIn.

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SOURCE OpenEnvoy