Automating Payables UsingHubdoc, Bill.com & QuickBooks

Leslie JorgensenFounder & CEO, Supporting

Strategies

Jamie McDonaldCo-Founder & Co-CEO, Hubdoc

Our VisionNever chase bills & statements again

No more data entry

Audit proof your business

Traditionalback-office

Rearview mirror approach to cash-flowYear-end rush around tax timeShoe-box of financial docs

Once-a-year interaction with advisors

Limited visibility into accounting cost

Modern equivalent

Real-time financials throughout the yearDigital documents & data managementForward-thinking approach to tax

Ongoing trusted advisor relationshipFixed accounting cost

Automated Accounts Payable Processing

an example of Collaboration that’s possible with cloud-based Accounting Systems:

INTAKE &PROCESSING

APPROVAL &PAYMENT

ACCOUNTING

Old way: manual bill processing

Old way: manual bill processing – the reality

• Cost = variable– Storage/filing, postage, server, bike messenger

• Efficiency = inefficient– Time consuming – data entry– Liability – no audit trails, no access control

• Morale = low– Role is mostly administrative, time consuming to deal

with clients’ messy financials

Reality of the manual process

New way: leveraging software to reduce the time spent processing clients’ payables by up to 60%

The New Process• Cost = fixed

– No guesswork, no legwork• Efficiency = high

– Time savings, no duplicate data entry– Audit trails, role-based access

• Morale = high– Take on role of advisor: teach clients how to manage

their business

Workflow Demo

The Playbook for Automating Payables

Planning• Map out workflow and identify where you’re

spending the most time and resources• Leverage benchmarking studies and surveys to see how you

compare and identify gaps (talk to your peers!)• Reduce or eliminate paper-based processes -

invoices, bills, checks• Better manage fraud• Time savings: eliminate data entry, faxing, copying, and

routing of invoices• Remote access to all data

Creating End-to-End Payables Automation • Use technology to solve pain points

• Reduce errors from manual processing• Approvals can be dealt with instantly, efficiently, with

automatic routing and processing• Greater oversight of the process for your firm

• Evaluate tools• Learn what to look for and what questions to ask

• Determine operating metrics that support your priorities

• Process Costs, automation improvements, error rates, fraud & duplicate payments, financial controls

Be an Advisor• Focus on value-added services for clients

• Interpreting their financials helps them grow faster or reduce costs

• Give clients real-time visibility into their business• Increases staff retention and frees them up

• Provide higher quality service and generate more revenue

Vip Account for YouOne free Hubdoc account for Accountants & Bookkeepers

Simply sign up atHTTPS://APP.HUBDOC.COM/SIGNUP

Once you love Hubdoc, begin adding your clients

Supercharge your practice!

Jamie McDonald

Let’s talk!

@Hubdoc Calendly.com/Hubdoc 1-800-577-2842

Thank You + Q & A

Leslie Jorgensen

Jamie McDonald