Anand is the Head of Marketing at Glean
Marble CEO, Stuart Winchester, was on the lookout for an AP automation software solution. When he was introduced to Glean's intelligent AP solution, he knew he struck gold.
Who is Marble?
What they do? Marble offers a centralized hub for all insurance needs
Where? New York
How many people do they employ? Less than 100
What industry are they in? Insurtech consumer software, SaaS
Finding the Time for AP
Like most start-ups in the tech arena, Marble is growing fast, and its team members wear several hats. With the pressures of marketing, servicing existing customers and keeping their investors informed and up to date, there aren’t enough hours in the day, especially when it comes to accounts payable.
Marble has many different vendors in various sectors, and each has different payment schedules and billing cycles. Invoice processing and the entire accounts payable function gets complicated fast, and spreadsheets just don’t get the job done after a certain point.
There are choices in the AP automation software space, but Marble knew they wanted more than your run-of-the-mill accounts payable software. Without a formal accounts payable department, Marble was concerned about vendor invoices being missed or invoice data being manually input incorrectly. Also, Marble didn't want its accounting system picking up on past due accounts, which would then be included in the financial reports that are presented to investors and other stakeholders.
Marble knew that AP automation was the way forward; automating payable processes just makes sense. Additional hires were not an option, therefore accounts payable automation was the way to go. As a leading innovator themselves, it’s no surprise that Marble chose Glean, the most innovative AP automation software available.
Accounts Payable Automation with Glean
Like Marble, Glean is a tech company that is disrupting the status quo. Glean's accounts payable solution is designed to eliminate manual data entry, automating the accounts payable process in ways that traditional accounting software just cannot do.
The transition was fast and easy, and within a few short hours, Marble was set up. Vendors were sent the dedicated email address for invoice processing, and invoice automation was complete.
Now, when vendors submit invoices, the approval process is easy, the risk of duplicate payments is removed, and paper invoices are no longer needed.
By automating accounts payable, the payment process is managed, payments happen on the date they are due, and for the correct, approved amount every time. There are no more checks to cancel or alter because they were filled out incorrectly, and no tedious processing of batch payments. It all happens instantly and easily in the background, while busy CEOs and executives focus on other aspects of their business.
“Glean is a self-driving finance function”
Marble sees vendor payments as a priority, but its lack of payable automation software meant payments were sometimes late. This left vendors concerned, or Marble facing late penalties or reductions in credit terms which then affected cash flow. AP processes were located behind the scenes, but they were certainly having an effect on the frontlines.
Says Stuart, “I get to be a timely payer that doesn’t cause any hassles.”
AP automation tools like Glean do so much, streamlining accounting processes, automating invoice approvals, handling vendor payments, and ensuring the entire process is accurate and timely. Overall, team members have more time in the day to take care of everything else on their plates.
Managing accounts payable, and real time data on what is owed, to whom and by when is also critical for general corporate planning. In today’s business world, things can change in an instant, and with Glean, you always know exactly where you stand as far as your accounts payable and cash obligations.
It is never “too early”
Stuart warns other founders to not wait too long to adopt a solution like Glean.
“I convinced myself that it was too early. But heed my advice: it’s too early until its not. After a few hectic months you suddenly realize you should have been more proactive in taking on an accounts payable solution.”
Marble will likely expand their team in the near future, taking on a CFO to head up the finance-related functions. Stuart is glad to have accounts payable software in place, so the team is ready for growth.
“Glean is a great vendor management tool and allows us to keep moving.”
How Glean Works
Glean is an AP automation tool that ensures vendors get paid on time, every time.
Once set up, vendors can submit their invoices quickly and easily by email. Invoice data is automatically pulled. Designated officials in your organization can view, approve, or query each invoice individually.
After each invoice is approved, it is scheduled for automatic payment on the due date you choose, and because Glean is linked to the bank account you pay your bills from, you can leave the rest up to us.
With AP automation, vendors are paid like clockwork: on the day your bills are due. Detailed month end or on demand reports show you exactly how much is due this month, next month and beyond, and it’s easy to create custom reports for shareholders, investors, and other stakeholders.
The Glean system provides a “single source of truth” for your whole team, and since it’s in the cloud, it’s accessible everywhere and built for collaboration. So even if your team is scattered around the country or even the world, you can always view, share, and collaborate to ensure that payments always happen on time.
Saving time: your most valuable resource
In business, whether it’s a start-up or a long-established company, time is our most precious resource. Invoice processing time and costs can be reduced.
AP automation software, like Glean, is designed to give busy executives, CEOs, and CFOs a time saving solution to manage the AP process end to end. Instead of going from spreadsheet to accounting software to email, Glean ensures that there is only one place to go to get the full accounts payable picture.
Whether it’s paying invoices every month or analyzing your spend with an individual vendor, Glean is the ultimate accounts payable automation software. So, ditch the spreadsheets and take your AP process to the next level.
IsDiscover how Glean can save you time and empower your AP team to make faster, more intelligent decisions. Contact us at firstname.lastname@example.org to see Glean in action.