ChemPoint is an "e-distributor" of chemical products and services. ChemPoint's parent company, Univar, is the largest independent chemical distributor in the world.
The Problem
ChemPoint pays over 300 invoices each month. Checks were printed manually and the CEO reviewed and signed each one. ChemPoint was dedicating resources to perform tasks that could be automated. Executives were also distracted by a time consuming, paper intensive task. Chris Jardine, ChemPoint CFO, knew the process was inefficient and was searching for ways to streamline the AP function, eliminate as much paper as possible and save money.
The Solution
ChemPoint now uses Fidesic Payments to streamline their payment process. They send all of their payments directly out of their accounting software. All payments are authorized by their CEO online, even when he is out of the office.
Results
ChemPoint experienced an immediate cost reduction of 25% Staff can be devoted to other important areas and the payment process can scale without adding additional ChemPoint resources.
"Operational efficiency, through a paperless environment, is a strategic focus for our company. As soon as we started using Fidesic Payments, we were saving money. Our president routinely travels but still wanted the ability to review and approve supplier payments. The Fidesic solution enables him to do this without being in the office."
—Chris Jardine
CFO, ChemPoint