PathQuest: Transforming Accounts Payable Processes

The combination of these innovative features address the critical gaps found in other solutions today, providing a streamlined and auditable lifecycle for invoices and payments.

“PathQuest is a subsidiary of Pacific Accounting & Business Services (aka PABS), a result-driven Blended Shore Outsourced Accounting Firm.” Please walk us through the statement and shed light on the AP services that you offer on the basis of its methodology, features and benefits.

Mr. Tated: As a blended shore accounting firm, we recognized the limitations of existing AP systems that lack essential features needed to drive efficiencies and productivity. PathQuest AP transforms the AP domain with features, functionality, and internal controls that reduce exorbitant check processing costs, significantly improve cash flow, and enhance visibility into vendor spend so businesses can negotiate better volume pricing or cash discounts to improve margins. And with seamless integration with existing data sources to auto capture relevant details from scanned documents, email attachments, and electronic invoices, PathQuest AP significantly reduces processing time with improved accuracy.

Could you please cite a case study on how you have enabled clients to overcome hurdles and attain desired outcomes?

Mr. Bugh: A US-based construction company was struggling processing vendor invoices due to reliance on manual paper trails and data entry as they were difficult and time-consuming to track, with most purchase orders (POs) never reaching vendors. And with no clear link between invoices and POs, reconciliation was almost impossible.

The company sought a comprehensive solution to track payment history, handle spending, and ensure accurate financial statements with the owner stating, “It would be a relief to know that the data being entered in our financial statements is accurate to the best of our knowledge. Upon implementing PathQuest AP, the construction firm saw an immediate increase in productivity and pivoted from prior plans to hire additional staff for their AP department. PathQuest AP allowed the firm to invite vendors to manage payments, review bills, and track purchase orders.

Mr. Tated: PathQuest’s AP automation capability gave the firm greater control and transparency over their financial processes, ensuring accuracy and compliance and seamless integration with their accounting system, allowing staff to complete tasks quickly and efficiently whether working in office or virtually. By eliminating most manual processes, the company was producing error-free payments with ease.

What according to you are the distinct features of PathQuest/differentiating factors that give it a competitive edge?

Mr. Tated: From our escalation management module that enables efficient tracking and issue resolution to our granular-level analysis and reporting capabilities that help users assess vendor attributes, measure turnaround time per transaction, or assess employee productivity, PathQuest AP enables superior management of the AP cycle for both small and large businesses alike. Even for large shared services centers, reporting and management processes are automated, providing instant access to comprehensive reports with just a click.

Additionally, PathQuest AP incorporates automated credit and discount management. Our intelligent OCR technology scans invoices from various sources, converting them and extracting data in no time. And unlike most AP platforms, PathQuest AP separates large numbers of invoices into one PDF, and seamlessly synchronizes the data regardless of where it is stored.

Mr. Bugh: For all these reasons and more, we believe our solution stands alone in providing CFOs, managers, and clerks an all-in-one platform to automate the accounts payable workflow and manage and process a high volume of invoices with preferred payment options such as ACH, credit card, and check payments. These advantages make PathQuest AP an indispensable solution for optimizing accounts payable processes and maximizing financial gains.

Businesses, like people, tend to repeat what is known and comfortable to them, regardless of the outcome. The time, headache, expense, uncertainty, and quite frankly fear, that I see many AP teams experience due to reliance on unreliable systems is completely avoidable and often limits their ability to grow and scale the business. Taking that first step forward to embrace a better way is critical as businesses look to find a comprehensive solution that encompasses the entire AP workflow, from document intake to tracking and control. And that’s exactly what PathQuest AP delivers.

This solution can help mid-sized and enterprise companies and CPAs seeking to overcome their current limitations using basic AP systems. PathQuest AP seamlessly integrates with your accounting software system with flexible and customized options to define sequence and stage approvals with speed, accuracy, and control. For all these reasons and more, PathQuest AP is the ideal choice for midsized to enterprise companies and CPAs looking to transform their path to efficiency, profitability, and growth.