Platte Valley Bank becomes more efficient with BankTEL ASCEND
With: Brittany Kleager, Corporate Accountant Officer
Nebraska and Wyoming’s Platte Valley Bank—part of the billion-dollar Platte Valley Holding Company—was using multiple software systems to handle different accounting department duties. This meant that the accounting team’s tasks were time-intensive and unnecessarily complicated.
“We were doing prepaid and accruals manually, and we were doing our fixed assets through a product called Asset Keeper Pro,” says Brittany Kleager, a Corporate Accountant Officer.
The 20-branch bank wanted to use one software that interfaced with their Jack Henry core to integrate all of their accounts payable tasks. So in May of 2018, Platte Valley switched to BankTEL’s ASCEND system.
According to Kleager, “It’s created a lot of efficiency for us. Previously, we would have to get invoices from our AP person and scan them into our fixed assets or prepaid software. Then we would manually calculate those items and manually enter them into a general ledger.”
ASCEND automates these processes, pulling invoices from the AP module into other modules and cutting out a lot of manual data entry.
Currently, Platte Valley has five ASCEND users working in three modules—Accounts Payable, Prepaids, and Fixed Assets. Soon the team plans to start using Expense Reports, as well.
“ASCEND has been a good move for us,” Kleager says.
She describes ASCEND as “user-friendly.” She likes that she can pull invoices from one module to the next, “rather than having to print them out and scan them in.”
“Our BankTEL project coordinator did a great job of keeping everyone on the same page during training.”
Platte Valley hasn’t been through an audit with ASCEND yet, but Kleager expects audits to be much easier:
“We can provide documentation to our auditors electronically, and because we’re not manually entering GL entries anymore, there’s less room for error. I think the auditors will appreciate that.” she says.
Eventually, Platte Valley wants to have a paperless AP department, and ASCEND has allowed them to get closer to that goal.
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