Accounting & Finance | News
U Montana Streamlines Accounts Payable
The University of Montana has adopted a new solution for accounts payable in an effort to streamline purchasing and improve efficiency.
The University chose SciQuest's Accounts Payable, a cloud-based solution designed to eliminate "manual processes for receiving, managing, and paying invoices," according to information released by the company.
Features of Accounts Payable include:
- A managed e-invoicing network;
- Paper capture, which allows users to import paper invoices and other documents. Institutions using SciQuest's Digital Mailroom can also choose to have all their documents sent to the company for receiving, scanning, and storage;
- A supplier portal for capturing supplier data such as insurance documentation and payment information;
- A receiving interface designed to prevent payment of incomplete or missing orders;
- Advanced dynamic matching; and
- Advanced dynamic workflow, which allows institutions to create custom workflows organized by supplier type, category, department, stock-keeping unit (SKU), and more.
The move builds on a previous relationship between the company and the university, which uses SciQuest tools to power GrizMart, its electronic procurement system.
"Since unveiling GrizMart, we've been able to streamline the order creation process and promote strategic supplier relationships, increasing overall costs savings and contract compliance," said Ian Robbins, director of Procurement Services at the University of Montana. "With the addition of SciQuest's Accounts Payable solution, we will be able to achieve additional efficiencies and automate manual tasks, freeing our staff to focus on more strategic objectives."
A public research institution in Missoula, the University of Montana serves approximately 15,600 undergraduate and 2,000 graduate students.
More information about SciQuest's Accounts Payable is available at sciquest.com.
Joshua Bolkan is the multimedia editor for Campus Technology and THE Journal. He can be reached at email@example.com.