As businesses navigate the intricate waters of financial processes, the pursuit of seamless solutions grows stronger. Today, enterprise customersare finding it difficult to manage high volumes of invoice exceptions and do not have the resources available to process as many supplier statements as they should be. Amid this turmoil, the path to minimize losses and maintain control over systems usually remains uncertain. This is when companies like AP Matching come into the picture.
AP Matching offers a lifeline to companies seeking not just automation but assurance—a strategic partner committed to no-touch invoice processing, statement reconciliation, and duplicate prevention. Daniel Kimpton (Co-founder and Director of Sales and Marketing) has been tirelessly driving the company towards success since its inception.
Transforming Financial Operations
AP Matching revolutionizes the role of Accounts Payable, proactively addressing and promptly resolving errors while driving continuous improvement to eliminate root causes and minimize risks.
With two decades of experience in supporting process improvement in Accounts Payable, AP Matching’s commercial model underscores its confidence in the platform’s ability to deliver value. The company’s commitment is evident in its approach: no implementation costs and 30-day rolling agreements, emphasizing a laser-focused dedication to supporting Accounts Payable in achieving promised benefits.
From Manual to Automated Efficiency
The landscape of services provided to Accounts Payable has undergone a profound evolution compared to earlier times. In the past, manual and time-consuming processes characterized the AP domain, leading to inefficiencies, errors, and delayed financial operations. Today, technological advancements and solutions like AP Matching Accounts Payable receive streamlined and automated services.
This transformation has significantly reduced manual efforts, mitigated errors in tasks such as invoice matching and reconciliation, and optimized processing times. The shift towards technology-driven solutions empowers Accounts Payable professionals to focus on strategic activities, fostering efficiency, accuracy, and a more proactive approach to financial management.
What Puts AP Matching Ahead?
AP Matching is driven by the goal of achieving world-class controls that seamlessly integrate with any ERP system. Through the automation of time-consuming processes, the company empowers Accounts Payable to shift its focus to managing exceptions, strengthening supplier relationships, and driving continuous improvement. It is committed to a streamlined approach, allowing AP professionals to strategically invest their time in ensuring efficiency, building strong partnerships, and consistently advancing financial processes for sustained long-term success.
A Deep Dive into the Company’s Offerings
1. Invoice Automation Service
Invoice-Matching is a state-of-the-art Cloud-based Managed Service designed for seamless invoice automation. With a focus on delivering matched invoices to Cloud ERP or S2P systems through native APIs, the service ensures a hands-free process for Accounts Payable teams from receipt to ledger posting.
Emphasizing high automation rates, Invoice-Matching not only automates invoice postings when all checks are successful, but also automates the resolution of exceptions based on business rules. The resulting process minimizes exceptions, improves payment on time and enables Accounts Payable to concentrate on value-added tasks. This efficient service handles diverse supplier invoices, supporting globally compliance einvoicing, PDF and images. It leverages the Microsoft Azure Platform for rapid 24-hour turnaround, automated exception processing, and rule-based approvals, ensuring a streamlined and tailored invoicing process.
2. Statement Automation Service
Statement-Matching, a Cloud-based Managed Service, offers seamless automation for reconciling supplier statements in any format. From Excel and PDF to paper statements, the service ensures a hands-free process for Accounts Payable teams, eliminating the need for manual intervention from statement receipt to exception resolution. The primary goal is complete automation, allowing reconciliation of various statement types while freeing up AP resources for value-added tasks.
The service includes rule-based exception resolution and robust reporting to quantify and analyze root causes, facilitating continuous process improvement and error reduction. Additionally, Statement-Matching provides a supplier portal extension for self-service access. This allows suppliers to view invoice and payment statuses, submit messages, and upload statements for autonomous reconciliation, enhancing transparency for both suppliers and the AP team.
3. Duplicate Prevention & Recovery
Duplicate-Matching is a Cloud-based application that offers configurable duplicate identification reports and tools for efficient prevention and recovery processes. Users can seamlessly access both applications using the same data set as Statement-Matching with a single user ID, requiring no additional setup. The application ensures timely identification and resolution of duplicate invoices, preventing inadvertent double payments to suppliers.
It also addresses historic duplicate payments, providing a recovery process. With managed service options for historical recovery, Duplicate-Matching allows Accounts Payable teams to focus on prevention. The synergy between Duplicate-Matching and Statement-Matching establishes world-class financial assurance controls, optimizing the P&L and elevating the role of Accounts Payable with the CFO.
Proof of Concept
Beyond delivering exceptional SaaS products, AP Matching understands that finding the right fit is crucial. That’s why the company offers a special provision of Proof Of Concept. Through this medium, customers get to experience firsthand, without any commitment, how AP Matching’s platform can revolutionize your operations and meet your unique requirements. The best part? All at zero cost and with zero hassle for the IT team.
What’s on offer for the customers?
- Invoice-Matching Excellence to connect effortlessly to your Cloud ERP/S2P test system via API.
- Statement-Matching and Duplicate-Matching Mastery. All the customer has to do is
- Share ERP data for up to ten vendors effortlessly.
- Email statements for selected vendors in any format (Paper, PDF, or Excel).
- Dive into a quick 1-hour training session via Webex after the system setup (3-5 day turnaround time).
Early Days of Company Establishment
AP Matching now proudly serves a clientele that spans many of the world’s largest enterprises. However, this achievement wasn’t an overnight triumph. Building trust with early customers requires time and dedication, strongly emphasizing people and reputation-building in the marketplace. This intentional approach maintains a sharp focus on customer satisfaction, laying the groundwork for sustainable and profitable business growth.
Recognizing a gap in the market, the company worked diligently to fill it, achieving success without resorting to borrowing or external funding. As AP Matching solidified its presence in the market, a significant challenge emerged in competing with larger software companies. Thriving in this competitive landscape necessitates top-notch products, a skilled team, and an unwavering commitment to delivering on promises.
The Transformative Triggers
Embracing a path of remarkable success, the turning point for AP Matching emerged in 2016. The introduction of Statement-Matching as a SaaS product played a monumental role, triggering significant expansion. This move not only provided the financial resources for developing additional solutions like Invoice-Matching and Duplicate-Matching but also marked a strategic consolidation under the company’s name.
This unique proposition in the marketplace continues to drive substantial growth in 2023 and beyond. To chart the company’s progress, it experienced an impressive growth rate of 30% in the last fiscal year, illustrating its robust upward momentum.
Crafting Workplace Excellence
Recognizing the pivotal role of human resources in the company’s success, the teams are incentivized based on customer satisfaction and renewals. This approach underscores the importance of maintaining a sound work environment and taking good care of employees, as it ultimately contributes to the company’s overall success. The emphasis on retaining customers reflects the understanding that while acquiring new business is challenging, the true measure of success lies in ensuring customer satisfaction and loyalty.
Unveiling the Visionary behind the Company
Sound leadership is the cornerstone of corporate vitality, the catalyst that transforms challenges into stepping stones for thriving. Behind the success of AP Matching stands a relentless leader, Daniel Kimpton. As the Co-Founder and Director of Sales and Marketing, Daniel is a visionary whose spirit has steered the company to remarkable heights.
Under his astute guidance, AP Matching has achieved numerous milestones, firmly establishing itself as an industry trailblazer. With a strategic mindset and an unwavering commitment to excellence, Daniel has elevated the brand to unprecedented levels, setting new standards for innovation and accomplishment.
Daniel’s Entrepreneurial Triumphs
Embarking on this entrepreneurial journey, the company not only started but also sustained its growth without relying on external funding. His unique approach allows for thoughtful, long-term decisions that benefit the company and its dedicated employees.
A significant factor in the company’s success is the early adoption of the SaaS model, a strategic move that, to date, contributes to around 90% of the recurring annual revenue. Remarkably, over 90% of the revenue is consistent, with many loyal customers staying on board for 5-10 years.
This stability empowers continuous investment in innovation, securing the company’s position as a market leader in the AP Automation and Assurance sector. Guided by Daniel’s dynamic leadership, the company not only moves forward but paves the way for sustained growth and unparalleled distinction within the industry.
Lasting Thoughts and Impressions
AP Matching success emerges as a narrative steeped in visionary leadership, resilience, and an unwavering commitment to customer satisfaction. From its humble bootstrap beginnings to its current prominence in the industry, the company’s trajectory stands as a testament to foresight and an unwavering pursuit of excellence.
What sets AP Matching apart is its ability to compete and its skill in crafting a story of sustained growth, hinting at a future marked by distinction. Much of this success is rightly attributed to Daniel, whose leadership has been the driving force behind the company’s continuous growth, positioning it for future dominance in the market.
