Customer Success Story: How Khan Academy Has Used Bill.com to Cut AP Processing Time by 50 Percent
Any company that still uses manual processes to handle accounts payable knows just how time-consuming those processes can be. Khan Academy used to be one of such companies. After making the switch to Bill.com, Khan Academy was able to boost its efficiency and streamline its workflows, cutting its AP processing time by 50 percent.
Life Before Bill.com
Khan Academy is a leading non-profit provider of online learning, offering a free, world-class education to over 38.5 million learners. Through its website and mobile app, Khan Academy offers articles, exercises and videos to students anytime, anywhere. The non-profit covers a wide variety of topics including history, science and math.
Like many businesses, Khan Academy relied on manual processes for their AP needs. Days were spent scanning invoices, updating spreadsheets and sending follow-up emails. The office was full of paper folders marked with sticky notes seeking approvals. Because they had no way of knowing when approvals were missing, a lot of time was spent tracking down signatures to avoid payment processing delays. Eventually, they knew something had to change.
How Bill.com Helped Khan Academy Save Money and Boost Efficiency
The results for Khan Academy since switching to Bill.com have been significant! By streamlining workflows and payment requests, Khan Academy has cut its AP processing time by 50 percent. The company now uses Bill.com to process all payment requests from vendors.
Entering invoice information, selecting approvers, and setting up payment parameters couldn’t be easier. The days when they used to rely on paper files with sticky notes are long gone. In addition to ensuring that all their bills are paid on time, Bill.com has streamlined the audit process. The time this saves has enabled Khan Academy to focus its staff on more valuable work that helps grow the non-profit.
Integrations have been a big part of the Khan Academy success story. Prior to using Bill.com, Khan Academy relied on cloud-based accounting software like QuickBooks Online and Intacct to handle their day-to-day accounting needs. Because Bill.com syncs in real-time with both solutions, the non-profit didn’t miss a beat when they started using Bill.com. Khan Academy continues to use Intacct just as it previously did. The non-profit also take advantage of the Bill.com unlimited document storage features to keep all their AP paperwork digitized and organized in one place. Now, when they need documents, they no longer waste precious time trying to find them.
When asked if they would recommend Bill.com to other companies, the response of Angela Tam, senior accountant at Khan Academy, was unequivocal: “Yes, I’m a huge fan of Bill.com. I don’t miss having to chase down approvers to ensure that our bills get paid in time. Bill.com makes AP simple. Now our accounting team can finish routine duties faster and they have more time to focus on more strategic financial projects. Thanks Bill.com!”
No more sticky notes for this company!
Khan Academy is just one of the countless companies who have discovered the time-saving benefits of making the switch to Bill.com. Start a 30-day, risk-free trial today to see how Bill.com can help you save valuable time on AP processing and streamline your back-office operations.