Case Study: How Dynamic Payables™ Modernized The Accounting Process At Nelnet, Inc.

Nelnet's accounting department handles numerous check requisitions on a daily basis. The department directs requisitions for both internal and external clients, which means organization is of the utmost importance. In mid-2007, the Accounts Payable department was working within an inefficient and expensive paper-based system. As the company continued to grow and change, the Accounts Payable department realized that they would need to increase efficiency in order to keep up with rising demand for their services. 5280 Solutions conducted an analysis of the AP system and was able to identify the following issues impeding Nelnet's service:

• Time-consuming processes. Inefficient processes often caused Nelnet to incur penalties and charges from late payments, which decreased cash flow.
• Manual procedures. Necessary approval and oversight from multiple workers was often confusing and led to errors, especially if there was a staffing change.
• Lack of visibility. Nelnet's paper-only process meant documents could not be easily tracked as they went from person to person in the department.
• Unsecure storage options. Paper documents, often containing sensitive information, were not always stored in the correct location and could not be easily retrieved.

The recommended 5280 Solutions' Dynamic Payables (DP), a SharePoint-based accounts payable invoice automation system that helps streamline processes while using existing hardware and software.