Customer Success Story with Multi-Entity Accounts Payable
Fidesic AP and Binary Stream teamed up to help MB2 Dental grow and win
MB2 Dental Solutions is a fast-growing dental management and practice development company that allows dentists to invest in one another from both a financial and professional standpoint. They provide back office assistance to independent dental offices and allow dental practices to have access to the benefits of partnering with a larger organization. MB2 partners have the advantage of centralized services to incorporate best practices, improve profitability and grow their own brand.
Finding the Right Automated AP System
As they were growing, MB2 needed a way to process thousands of monthly invoices across over 250 locations, without adding additional overhead.
“The implementation with QuickBooks & Bill.com was not complicated but when you have 100+ individual company files for QB, it takes a toll on the system," said Sarah Sawyer - Controller with MB2 Dental. "QB is meant to be small business solution and just was not able to handle the growth that we were experiencing. We had been looking at GP for a couple of years and found a vendor that we liked and trusted. We tried taking bill.com over to GP but unfortunately, they wanted us to download 4 files per entity to upload into GP. At minimum, that would have been 400+ files to be downloaded a day. That was definitely not going to work for us.
“Working with Fidesic & Binary Stream has been amazing."
With a plan to continue growing and adding new locations, they needed a way to manage a greater number of AP invoices and payments without being overrun on the management side of their business. Whatever solution they were to select had to work with their Binary Stream MEM setup with GP - any extra work there was a non-starter.
Transitioning to an Efficient Automated Approach
Fidesic was able to address each of their primary objectives in a unique way - all without changing how they utilize features built into GP and MEM. The easy-to-use features and functionality of the Fidesic platform ensured that MB2 Dental Solutions addressed their primary issues and had a smooth onboarding process.
“Fidesic literally saved our sanity.”
Three weeks after MB2 decided to go with Fidesic, they were able to automatically capture invoice data, get electronic approval, and push that data directly into their Dynamics GP accounting system without any manual entry. Although the complete rollout was delayed due to COVID 19, MB2 was able to complete their rollout to all locations during the pandemic.
“We have been able to trim our invoice processing from 10 days to 5 days."
MB2 Dental is now fully launched and all invoices are being captured automatically by Fidesic OCR and reviewed by the regional managers through the Fidesic Automated workflow. These invoices import into Dynamics GP with MEM do not require manual entry. After researching several solutions, Fidesic AP was the only solution that offered the multi-location features that a company such as MB2 requires
MB2 Dental experiencing rapid growth
MB2 Dental needed an automated AP system solution to process thousands of monthly invoices
Fidesic was the only solution that offered multi-location features that MB2 required
Fidesic addressed each of the MB2’s objectives with a unique and efficient process