Forest Products Distributors (FPD), a 40-year-old full-service lumber wholesaler and manufacturer, faced significant inefficiencies in their all manual AP processes. With complex operations spanning manufacturing, remanufacturing, and wholesale, their paper-based approval workflows resulted in delays, errors, and limited visibility. By partnering with OpenEnvoy, FPD embraced AI-powered automation to streamline approvals, enhance visibility, and improve supplier relationships.
Some of the challenges that Forest Products was experiencing:
- Manual Processes: AP approvals required physical paper shuffling between offices 10 miles apart, leading to delays, lost documents, and bottlenecks.
- Lack of Visibility: Difficulty accessing spend data hindered decision-making.
- Complex Operations: Multi-entity, multi-project operations complicated invoice processing.
- Traditional Industry: The lumber industry’s manual workflows lagged in technology adoption.
Solution
Forest Products Distributors partnered with OpenEnvoy to implement AI-driven automation, addressing key issues:
- Fast Implementation: Delivered value within 3 months.
- Faster Approvals: Reduced approval times from one week to two days.
- Improved Visibility: Dashboards provided real-time spend transparency.
- Flexible Tracking: Tags centralized multi-entity and project costs.
- Smooth Adoption: Clear communication ensured a seamless onboarding experience.
Results
- Payback: 1X ROI achieved in 2.5 months
- Efficiency Gains: Approval time cut by 70%, improving cash flow and freeing AP staff for strategic tasks.
- Improved Visibility: Dashboards and labels centralized spend tracking and sparked actionable insights.
- Stronger Vendor Relationships: Faster payments built trust with suppliers.
- Scalability: Flexible workflows handled complex invoices and prepared for ERP integration.
Unexpected benefits
- Leadership Empowerment: Real-time data improved decision-making and reduced dependency on accounting staff.
- Increased Productivity: Freed AP staff contributed to more strategic, higher-value projects.
- Reliable Support: OpenEnvoy’s quick issue resolution boosted stakeholder confidence.
"OpenEnvoy has transformed the way we manage AP. From faster approvals to real-time visibility, the benefits are clear. Our team has more time to focus on strategic initiatives, and our suppliers are happier. The support from OpenEnvoy has been exceptional—it's been a true partnership."
– Konstantin Posherstnik, Director of Finance, Forest Products Distributors
