Stampli becomes first AP Automation 'Fintech Plus Tier' Marketplace partner recommended for Sage Intacct Construction

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Aug 12, 2024, 09:00 ET

A new solution is now available for Sage Intacct Construction customers to simplify complex accounts payable processes and enhance automation.

MOUNTAIN VIEW, Calif., Aug. 12, 2024 /PRNewswire/ -- Stampli, the leading financial automation platform centered on accounts payable, today announces that it is the first Sage Intacct "Fintech Plus Tier Marketplace Partner" for AP Automation to have a validated specialty in Sage Intacct Construction (SIC).

While Sage Intacct Construction supports a range of common accounts payable scenarios, many construction firms have more complex AP processes involving multiple entities, job costing, retainage and other challenges. To provide their subcontractors and suppliers with the quick, accurate payments they expect, they supplement SIC with manual processing tasks that are often inefficient, error prone, overly reliant on paper, and create risks to essential supplier and subcontractor relationships.

Now these businesses can automate their AP processes using the combination of Sage Intacct Construction and Stampli. With accounts payable at its core and AI embedded at every point, Stampli centralizes all AP processes, streamlines workflows, reduces errors, ensures timely payments to suppliers and subcontractors, and fosters better relationships.

Stampli's recognition by Sage speaks to its seamless integration with Sage Intacct Construction, which ensures complete data sync, a familiar environment for AP staff, and a rapid implementation process with no need for engineering or development. Stampli's integration with SIC relies on a comprehensive API that is built in-house and in advance by Stampli to support the full range of native SIC functionality, including essential construction needs such as retainage, job costing, change orders, and others.

Stampli is committed to full compatibility with all current and future Sage Intacct Construction functionalities, letting SIC customers make their AP operations far more efficient without compromising their ERP or constraining their future business or technology decisions.

"For any construction company, subcontractor and supplier relationships are critical to business success. Inefficient AP processes create major risks to these relationships, which is why companies with complex invoicing needs should pursue automation and efficiency," said Dennis Stejskal, Head of Strategy at Sage Intacct Construction. "Sage sets a high bar for validating solutions to ensure the best experience for our customers. We are confident in Stampli because of their robust support for Sage Intacct Construction-specific functionalities. As a validated Sage solution, Stampli's AP automation platform reduces paper clutter, increases efficiencies in the contractor's AP department, and significantly improves relationships with subcontractors and vendors."

Superior Masonry saves time and delights subcontractors
Superior Masonry, based in Fort Mill, South Carolina, specializes in commercial and residential masonry work. Faced with AP inefficiencies, errors, and strained subcontractor relationships, they turned to Stampli to complement their financial operations powered by Sage Intacct Construction. Stampli helped them remove AP bottlenecks and improve their supplier relationships, with significant business improvements that include:

93% reduction in average invoice processing time
$10,000 monthly savings from improved vendor charge oversight
40-60 hours per week saved on manual AP tasks

"Stampli has allowed us to streamline our process and keep our headcount lean," said Matt Andersen, CFO of Superior Masonry. "We now have the tools we need to quickly process vendor invoices, identify and solve any process bottlenecks, and resolve any issues that may arise without payment delays. The biggest advantage that I can say we have seen with Stampli/SIC is that we are organized and accountable — if a vendor sends us an invoice, it is NEVER missed!"

How Stampli solves challenges in construction AP:

Paper clutter: AP teams struggle with stacks of physical paper, making document management inefficient. Stampli centralizes all AP documents digitally, reducing paperwork and streamlining processing.
Errors: Manual data entry leads to mistakes and makes reconciliation difficult. Stampli automates data capture and entry, reducing errors and easing reconciliation.
Visibility: Decentralized paper processes lead to poor tracking of project costs and lack of accountability. Stampli unifies all AP processes and documents in a single auditable view, all the while supporting job costing for easy allocation of project-specific costs.
Relationships: Inefficient AP processes damage subcontractor and supplier relationships. Stampli simplifies onboarding and managing vendor contracts, and improves payment timeliness and accuracy.
Retainage & cash flow: Manual management of retainage amounts leads to disputes and cash flow issues. Stampli automatically syncs retainage amounts with Sage Intacct Construction, ensuring correct updates and preventing disputes.

Learn more about Stampli's AP automation for Sage Intacct Construction.

About Stampli
Stampli is the only finance automation platform centered on accounts payable. While other platforms are built by payments providers to capture a business's cash flow, Stampli is built by AP experts for AP first. As a result, Stampli drives AP and finance team efficiency across the entire invoice lifecycle, from vendor onboarding to remittance to spend management and beyond.

Stampli creates breakthrough productivity by centralizing all invoice-related communication, documentation and workflows into a single view for each invoice, and by automating all manual activities using Billy the Bot™, the industry's only proven AI. Billy's self-learning architecture has made it more capable every day since its debut in 2015; today, Billy the Bot has saved millions of hours of labor for Stampli customers as it processes $80B+ invoices every year.

Stampli fully adapts to a customer's desired finance processes and ERP configuration, thanks to the complete integrations it has prebuilt for ERPs from Sage, Microsoft, Oracle, SAP, QuickBooks, Acumatica, Dealertrack, and many others. Thanks to this adaptability, Stampli implements within weeks, not months, and is easy to learn for any stakeholder involved in the invoice lifecycle.

Learn more at Stampli.com.

SOURCE Stampli