Tuscaloosa-based Bryant Bank has been on a growth trajectory ever since Paul W. Bryant Jr. founded the financial institution in 2005.
The bank, which operates 15 branches in five major Alabama markets, now employs about 250 people. Assistant Controller Natasha Sutton knew that streamlining Bryant’s AP processes as it expands its footprint would enhance efficiency and ultimately reduce administrative headaches.
In 2019, Bryant Bank decided to implement BankTEL’s ASCEND Accounts Payable software with the Expense Report Reimbursement module. The benefits keep revealing themselves, says Sutton.
“My favorite (technology) is the Expense Report Reimbursement Module. It keeps the back office scanning/paperwork to a minimum. It has definitely improved our efficiencies within our Accounts Payable Department,” Sutton said.
Bryant initially rolled out the Expense Reimbursement Module to a pilot group of employees. This group, consisting of one person from each department, tried out the technology, and word got out, she said.
“People were excited about it, and we had more and more employees ask about it,” she said.
The bank also has organized vendor data using BankTEL’s Vendor Management features.
“We created two vendor types: Critical and noncritical within BankTEL. Each has a different approval path that is in place before a vendor is paid. We have been adding all vendors into the Vendor Management Module, and marking them critical and non-critical as well. When we have a critical vendor, there is a list of questions that we answer, and then risk-weigh them within the Vendor Management Module.”
“It is so nice to be able to log all contracts, as well as upload any SOC Reports and other necessary documents,” said Sutton.
The overall system is so robust, Sutton said, that Bryant Bank is already looking forward to implementing more solutions.
“The modules on our radar next are Credit Card Import and Smart Receipts. I have to say that I am very excited about both,” Sutton said.
Contact us today to learn more about how some of the nation’s most reputable banks and credit unions are turning to BankTEL for accounts payable automation solutions.