Ascend and Stormloop Partner to Help Workday Users Optimize Processes

Ascend AP Automation and Stormloop Technologies have partnered to help Workday Financial Management users.

The collaboration will bring together Ascend AP Automation’s accounts payable automation technology and Stormloop Technologies’ consultancy services to help businesses that use Workday Financial Management optimize and streamline their enterprise resource planning (ERP) processes, the companies said in a Thursday (April 13) press release.

“By combining our cutting-edge technology with Stormloop’s expert consultancy services, we believe we can help businesses achieve their financial management goals more efficiently and effectively,” Ascend Vice President of Strategic Partnerships Larry Robinett said in the release.

“Our consultancy services, combined with Ascend’s automation technology, will enable us to offer a complete solution to Workday Financial Management customers, helping them optimize their ERP processes and achieve their financial management goals,” Stormloop Technologies Business Development Manager Danika Dodd said in the release.

Ascend AP Automation’s cloud-based platform offers intelligent data capture, automated invoice processing, customizable workflows and other features that help businesses automate their processing of invoices, according to the press release.

Stormloop Technologies’ consultancy services are focused on implementing and optimizing Workday Financial Management so that businesses can make the most of their Workday experience and achieve their goals, the release said.

As PYMNTS reported Jan. 18, running AP and accounts receivable (AR) operations using spreadsheets and other legacy processes makes it inherently difficult for a business to cut costs by streamlining operations and gives their more automated competitors an edge.

The cost savings inherent in adopting AP/AR automation systems could then be passed back along to the business’s customer via pricing cuts, in turn avoiding the price hikes they dread.

PYMNTS research has found that payments automation and digitization could also go a long way toward reducing delays and minimizing errors by delegating day-to-day processes, such as payables, invoice processing and record-keeping, to artificial intelligence (AI)-based solutions.

Shifting payments away from checks to automated digital transactions can provide improvements throughout a business’s operations, including better efficiencies, working capital management, cost reductions and improved relationships with customers and suppliers, according to the “AP Automation Tracker®,” a PYMNTS and Beanworks collaboration.