AP Automation for Home Builders Case Study for Tatum Homes Published by Centsoft
Tatum Homes, an award-winning custom home building company, has chosen Centsoft for its accounts payable automation solution. The AP automation software helps the home builder manage incoming vendor invoices with both invoice data capture and approval workflow functionality.
For 30 years Tatum Homes has been building custom homes in Oklahoma City and surrounding areas. Founded by Aaron Tatum, the company has won many acclamations over the years, including the Best of Houzz Client Satisfaction and Oklahoman Readers Choice Awards.
Tatum homes was finding it challenging to work with over 4,000 paper invoices per year and managing the approval process for several approvers.
Because of the paper processes and numerous job sites involved, invoices would get lost or misplaced. Approvers would be overwhelmed with paperwork and management was looking for a more streamlined, automated approach.
“Most homebuilding companies store their invoices on a job-by-job basis and stick them all in a job folder,” said Ryan Tatum, CFO of Tatum Homes, “If you want to find all the invoices for one vendor can you imagine having to go to every single job, every single job folder? Being able to search in Centsoft and export all the invoices in one PDF makes it a lot quicker and easier.”
Invoices arrive by mail or email, and are scanned by Centsoft. The data inside each invoice is then populated in an intuitive central dashboard. Tatum Homes finance administrators can check that the data is accurate, make adjustments, apply coding and send the invoice out for approval.
AI works in the background to learn account codes, and over time makes suggestions on how to code items on each invoice.
Once an invoice enters the system and has been checked by the administrator, the invoices go out in an automated workflow where project managers on job sites can approve the invoice on desktop, tablet, or smartphone.
Tatum Homes has benefitted from the ease of integration with Quickbooks Desktop. The integration only took a day or two to setup, and all of the vendor information was shared with Centsoft.
Once an invoice is approved, the invoice is transferred to Quickbooks for recording and payment.
To see the case study and how Centsoft AP automation helps custom home builder Tatum Homes uses it to increase efficiency, visit https://centsoftautomation.com/case/use-case-tatum-homes/
Centsoft offers a robust, cloud-based AP Automation platform to streamline all of the steps in the accounts payable process. Centsoft’s AI learns and proactively suggests vendor information and coding suggestions. Centsoft is a leading provider of SaaS solutions that automates the management of incoming invoices for over 1,600 companies. Centsoft easily integrates with popular ERPs and accounting systems.
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