Today I am excited to announce that E.J. Del Monte Corporation, builder, owner and operator of 17 Marriott Hotels and an award winning luxury spa, has selected BirchStreet’s cloud-based procure-to-pay application suite to power the company’s purchasing and automate Accounts Payable processes. BirchStreet’s cloud-based P2P system will be implemented at all E.J. Del Monte properties as well as the corporate office.
The rollout will include:
- AP Automation with Auto-Matching
- Advanced Workflow to route transactions for approval
- Declining Checkbook Drilldown to provide department heads and the finance team with real time visibility into each property’s budget status (actual vs. forecast)
- A series of by-directional interfaces with E.J. Del Monte’s back-office accounting system
Using BirchStreet’s Procure-to-Pay platform, E.J. Del Monte’s paper invoices will be converted into electronic documents and transmitted to BirchStreet’s Auto-Matching Engine, which will perform an automated three-way match of invoices, purchase orders and receiving records based on the company’s business rules. Typically, BirchStreet’s customers find 80% or more of their PO Invoices pass Auto-Matching without human intervention. The exceptions and all non-PO invoices will be routed for disposition using the BirchStreet Advanced Workflow engine.
For easy access, an electronic image of the paper invoice will also be attached to each transaction and stored in BirchStreet.
Not only will the BirchStreet applications provide the E.J. Del Monte properties with an efficient Procure-to-Pay processing platform, the solution will also serve as a comprehensive one-stop portal housing all P2P related transactions, reconciliation, documents and history, including:
- Electronic Purchase Order
- Electronic Receiving Event
- Electronic Invoices
- Image of the Paper Invoice
- Electronic record of the reconciliation and any applied Credit Memos
- Electronic record of all vendor payment, including payment amounts and dates, check numbers, EFT tracking information and more.
Having all P2P information in one online portal will make responding to vendor inquiries and chasing down delivery and payment discrepancies fast and easy.
The properties are slated to go live later this year.
We welcome E.J. Del Monte to the BirchStreet family.