Heavy Highway Contractor

Hi all,

There was a great thread here last summer on the Finvari credit card platform, and we have been on their card program since November. It has been a real improvement for us, and my read of that thread is that most of the enthusiasm was about the card and expense side.

What I cannot find anyone talking about is the separate A/P invoice automation module. Vendor invoices in, OCR extraction, approval routing, posting to the ERP. We are considering it and I am having trouble finding anyone with live experience.

If you are running it, I would appreciate your take on any of this:

1. How accurate is the line-item extraction on real subcontractor and supplier invoices, especially ones that split across multiple jobs and cost codes? What percentage still need hands on them?

2. Does the duplicate detection actually catch an invoice that was already paid by card and is sitting open in A/P? That specific scenario has bitten us.

3. How does the invoice approval routing compare to the card approval workflow? Did PMs treat it any differently, or do you still chase them?

4. Foundation users especially, how does the invoice data get into the system? Our card import is a manual weekly push that takes a few minutes. Is the A/P side the same, or better?

5. Anything you wish you had known before implementation?

Happy to share what we learn as we go. Thanks in advance.

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Timothy Adams
CFO
Allison Park Contractors, Inc.
Gibsonia PA
(724) 714-2618
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It is a new product. I have a demo tomorrow afternoon. I'm also curious whether anyone else has already started using it.

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Matt Glenn CPA, CCIFP, CITP
VP, Finance & IT
Gray and Son Inc
Timonium MD
(717) 858-2442
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Hey Timothy, figured I'd jump in and share an alternative option that does exactly what you're looking for since I don't see a lot of replies on this thread.

I'm with Agave and we have an AP Automation solution that automatically extracts invoices from your email, matches to POs/SCs in Foundation, routes for review, and syncs to Foundation in minutes once approved. A few notes on ours in response to your questions/comments:

• Agave uses AI in addition to OCR to better extract information from different invoice formats, and match to commitments already in your ERP. This enables us to accurately flag duplicates before they ever end up in Foundation.
• Our solution can handle multiple files in the same email, differentiate non-invoice documents (such as delivery tickets), and split out multiple invoices in the same PDF file.
• Because our solution is directly integrated with Foundation, we assign cost codes to line items based on what is set in Foundation. You can also set default ledger accounts for tax and freight.
• The approval process is very customizable with routing options based on project, multiple tiers of reviewers, and custom approval rules written in plain english processed using AI. We've seen customers use this to add extra approval layers for large dollar amounts, new equipment purchases, and more.
• For the sync to Foundation, it happens automatically once the invoice is approved. We can also sync attachments (the invoice files themselves) to be saved in your cloud or on premise file storage so they're accessible from within Foundation in addition to your email and the Agave interface.

If this is of interest, please shoot be an email and I'd be happy to schedule a demo with you and your team: bbarrett@useagave.com 

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Ben Barrett
Account Executive
Agave Tech Inc.
Baltimore MD
(301) 641-7945
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We are in the process of implementing it currently. So far it has been great. Spectrum is our ERP and the integration has been very smooth.

We recently switched the CC from Corpay to Finvari and the AP side has piggybacked along with no learning curve and our PM's and field staff love it.

Duplicate detection seems to be working great. If the invoice is already in Spectrum it does not pull in from Finvari.

Approval routing works just like the cards but you can have different final approvers if you want.

We haven't dealt with the line item extraction yet but you can definitely split the coding anyway you need to.

Customer Service has been awesome!

Hope this helps.

Tom

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Tom Lowrey CFO
Scott Bridge Company, Inc.
Opelika AL
(334) 749-5045
tlowrey@scottbridge.com
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