Hello from all of us at Edstruments! We are excited to announce the launch of our newest product offering: the Edstruments Purchasing Platform. Fully integrated into our budgeting tools or available standalone, this new product can streamline and automate your procure-to-pay process, encompassing vendor payments, accounts payable, and purchase order creation.
Why We Created This Product
The Edstruments team works closely with education and nonprofit leaders, and we've seen the challenges they face with procuring and paying for things. Complex manual processes, wasted time, and lack of actionable insights can be frustrating roadblocks to mission-focused work. That's why we created a solution to take the pain out of payables.
In speaking to our partners and leaders at similar organizations, we found that there were three critical ways we could offer differentiated value in the procure-to-pay flow:
We took this feedback to heart as we developed the purchasing module for our current and future partners.
Features to get excited about
Effortless Automation
Our platform takes over the heavy lifting of invoice management. Our AI scans your invoices to prepopulate information like vendor, amount, and due date, and the system remembers how you’ve coded prior invoices, decreasing the time and effort spent on data entry. Additionally, our system can automatically draft and code invoices received by email, reducing paperwork and errors.
Goodbye to Manual Payments
Gone are the days of labor-intensive manual checks and paperwork. Once your invoices and payments are approved, we take it from there. You don't even need to provide financial info for vendors - we'll take care of the communication, with over 90% of payments conducted electronically.
Tailored Approval Workflows
Each organization is unique, and we believe that your accounts payable process should reflect that. With our platform, you can customize your approval workflows to fit your organization's unique needs, building approval rules based on invoice amount and coding, ensuring your financial controls are met.
Who Can Use This?
Whether or not you’re a current Edstruments partner, you now have access to this new capability! We welcome any education or nonprofit organization, who does or does not currently have an AP solution, to give us a try. Our payments platform currently fully integrates with Sage Intacct and QuickBooks Online, but in the weeks and months ahead we’ll be adding integrations to other accounting platforms.
Join Us on This Journey
We are thrilled to release this product into the world and can't wait to see how it transforms your accounts payable processes. Ready to give it a try? Schedule a demo today, and mention *announcement* for a free two-month trial.
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Edstruments was founded to help public school systems and nonprofits make the most of their resources. We work with leaders in all roles to empower their decision-making, utilizing principles like those written about in this article. Increase your collaboration, plan multiple scenarios with ease, and deploy your dollars more strategically. Interested in learning more? Reach out to our team at hello@edstruments.com today!