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For example, a 2015 survey by APQC showed “bottom performers” spend an average of $12.44 Over time, giving vendors control over some of the customerservice aspects of the accounts payable department helps cut AP costs. It also provides other benefits to your company, many of which help you save money. per invoice.
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Mike Whitmire: [00:15:02] To go back in time a little bit, we've been around for seven years, but we really didn't start selling until Q1 of 2015. We now- our Series C was $40 million, which brings our total funding to $93 million, to date, and been a big push to invest in product and customerservice with all that money.
So, in February, they laid off 40 of their customer-service people. Now, I don't know if those customer-service people were bookkeepers, or accountants, or what, but they let them go, and they started pivoting to this marketplace. If you're gonna raise money like a tech company, you gotta be a tech company.
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