Pivot Payables
Maximizing Commercial Card Program Value

Efficient finance management is essential. Business leaders must track their expenses to understand their profitability picture – an integral part of good business decision-making. While tracking and reporting expenses may seem easy, there are often complex manual procedures involved to complete the financial operations requirements to account properly for the expense data collected. Automating these inefficient processes can result in businesses retaining and recovering significant bottom line profits. The key to resolving these inefficiencies is understanding financial operations workflow and data sharing, and that’s where Pivot Payables can help.

Pivot Payables’ cloud-based solution suite specializes in helping businesses optimize finance management. Its products integrate independent and disparate systems, automate and improve process workflow, increase operational efficiency, and ensure greater visibility of financial data. Pivot’s solutions increase the value of client investments in business-critical processes involving expense and invoice spend and payment management. Access to powerful finance management tools enables clients to improve decision-making and profitability.

“We are a strategic partner to SAP Concur, and our ability to deeply understand client challenges and deliver digitally integrated solutions helps our clients stay ahead of their competition,” says Cher Pearsall, CEO of Pivot Payables.

A customer-centric firm at heart, Pivot Payables adopts a highly collaborative approach when engaging with clients. The team prioritizes getting a holistic understanding of the client challenges and goals related to the problem at hand. Based on these insights, it configures and deploys its solutions with best-in-class service. Pivot Payables’ portfolio includes three solutions—PivotEQ, PivotNexus, and PivotPrime.

PivotEQ, its newest product, helps financial executives maximize the value of their commercial card programs, starting with automating the reconciliation of company paid card statements. Traditionally, accounting departments manually compare credit card statements against expense reports, contacting employees to submit their reports, comparing again, and when the bill is due, typing in the necessary accrual accounting entries. In contrast, clients download their card statements into PivotEQ and it automatically does all the work: 1) continuously comparing card transactions against SAP Concur Expense reports; 2) sending action-oriented messages to employees with unsubmitted transactions; and 3) creating the accrual accounting entries.

Does it work? The Finance Manager at Vantage Partners, a global consulting company, says “PivotEQ has had a tremendous impact!”. The statement period prior to PivotEQ, the company reported spending about one hour per cardholder and still had 540 unmatched transactions that each needed accrual entries at period end. At the end of their first month using PivotEQ, they had only 20 outstanding transactions; then 10, then 2, and by the fourth month, they had one outstanding transaction! All done automatically by PivotEQ.

All of this makes PivotEQ the go-to credit card reconciliation solution for businesses – a mere beginning of how Pivot Payables will help get more from card programs.

We are a strategic partner to SAP Concur, and our ability to deeply understand client challenges and deliver digitally integrated solutions helps our clients stay ahead of their competition

PivotNexus is another solution in its well-knit portfolio. An integration platform as a service, PivotNexus moves master data from the ERP into SAP Concur for the front-end operations and accounting transactions for the back-end operations. The platform supports approximately 50 ERP/Accounting systems. Among them, Microsoft Dynamics 365 Business Central was chosen as the exclusive launch product for the SAP Concur Financial Integration Program.

On the accounts receivable (AR) side, PivotPrime automates the process of creating chargeback statements from SAP Concur solutions, including receipt and invoice images. The value proposition is best exemplified by USC Consulting. An existing SAP Concur client, an audit revealed they had missed billing $1.3M over an 18-month period -- a reimbursable amount never billed to their clients, an average $75,000 lost profit each month. PivotPrime automatically creates their chargeback statements, never misses expense items and eliminates hours of work in the process.

Pivot Payables’ keen focus on innovation and commitment to customer service gives it an edge over the competition. For the road ahead, Pivot Payables strives to remain a go-to partner for clients in simplifying their operational processes and achieving their financial goals.