Automating Accounts Payable Processes to Drive Efficiency, Cut Costs, Improve Controls and Reduce Fraud
Sibcy Cline, the largest real estate broker in the area, still relied on paper checks for much of their payment processes. Fifth Third Bank worked with them to find a solution.
As the largest real estate broker serving Cincinnati and Dayton, Ohio, Northern Kentucky, and Southeastern Indiana, Sibcy Cline has 1,100 sales agents and 22 branch office locations. But due to the highly manual nature of their work, treasury faced numerous challenges in making sure invoices were processed efficiently, payments were made on time, and fraud was mitigated. Reliance on paper checks exposed the organization to a greater risk of fraud, as well as higher costs in processing payments.
To address these pressing needs, Sibcy Cline’s treasury team selected Fifth Third Bank to implement its Expert AP managed payables solution. Download the case study below to see how Fifth Third seamlessly integrated electronic payments into the company’s accounting system.