Air Methods
Air Methods Sets BSM On Auto-pilot for $20 Million in Savings
Air Methods' back office was grounded due to manual processes, no standardized procurement function, and poor spend visibility which led to late payment fees. Until their Senior Director of Business Transformation flew in to revamp their entire procurement system from the ground up with Coupa.
Value as a Service
Reduction in invoice cycle time
Saved in first year
Decrease in supplier base
Challenges
Patchwork of backend systems with no standard procurement policies.
Manual processes included 100% paper-based invoicing.
Lack of spend visibility and conciliation with more than 8,400 vendors for 300 locations.
Solutions
Results
43% decrease in supplier base after consolidation.
$20 million saved in year one against a projected rate of $11 million.
Decreased overdue payments from 5% to 1.8%.
4x reduction in invoice cycle time.
Lowered requisition cycle time from more than 1 week to less than 1 day.
