Simplifying AP Operations for a Leading Venture Capital Firm

Simplifying AP Operations for a Leading Venture Capital Firm

Our client is a prominent venture capital firm offering individual investors access to highly competitive investment portfolios. They specialize in providing venture capital opportunities typically inaccessible to solo investors.

The Challenges Faced

The client faced growing operational inefficiencies and costs in managing their accounts payable (AP) process internally:

1. High AP Operational Costs 

Maintaining an internal AP team was proving expensive, driving the need for a cost-effective solution.

2. Constant Turnover of AP Employees

Frequent AP staff turnover created workflow disruptions and increased training costs, impacting operational continuity. 

3. Burden on Senior Finance Staff

Senior AP analysts were tied up managing daily invoice processing and vendor queries instead of focusing on strategic financial initiatives.

4. Inefficient Handling of AP Tasks 

Without consistent processing, vendor invoices, credit card transactions, and employee reimbursements faced delays, leading to potential vendor dissatisfaction. 

Why the Client Came to ARDEM

The client partnered with ARDEM with a clear set of goals in mind:

1. Cost Reduction

They aimed to reduce operational expenses by transitioning AP work to a reliable AP outsourcing vendor. 

2. Stabilizing Operations Amid Constant Turnovers

They sought to eliminate the disruptions caused by the constant turnover of AP employees by outsourcing to a stable and experienced team. They sought ARDEM’s support to create a stable, reliable AP outsourcing process.

3. Streamlining Routine Accounts Payable Tasks

The client needed consistent handling of daily AP activities like invoice processing services, employee reimbursements, vendor payments, and mailbox management.

4. Improving Data Accuracy and Timeliness

They needed to enhance the accuracy and speed of invoice entries, vendor setup, and payment processing without impacting compliance or operations.

How ARDEM Solved These Challenges

ARDEM implemented a structured, scalable AP outsourcing model customized to the client’s needs:

1. Centralized Invoice Processing and AP Mailbox Management 

We received vendor invoices through the client’s AP mailbox and also visited vendor websites to pull invoices. We delivered invoice processing services ensuring timely capture and routing of vendor invoices. Accurately prepared invoices for further payment processing through the client’s ERP systems (Ramp and NetSuite). We made sure to address incoming emails daily, ensuring no delays in vendor communication or document collection.

2. Vendor Payment Processing Support 

ARDEM handled selected vendor payments using the client’s RAMP credit card platform. We also updated all payment transactions into the ERP systems (Ramp and NetSuite), ensuring full data accuracy.

3. Employee Reimbursement Management

We reviewed and approved employee reimbursement requests according to the client’s internal policies to ensure compliance and on-time processing.

4. Credit Card Transaction Matching

Our AP analysist manually synced and matched credit card payment data between Ramp and NetSuite to maintain transaction accuracy.

5. Vendor Setup Assistance

We provided full assistance in onboarding of new vendors in the ERP system to streamline invoice onboarding and payment readiness.

6. Bank Reconciliation

We conducted reconciliation of bank statements monthly, matching recorded transactions with external payment records for complete data accuracy. We also assisted the client with monthly electronic fund transaction filings (EFD) by updating payment records. 

7. Audit Support Activities

We retrieved and compiled historical invoice copies and other documents to support internal and external audits efficiently and accurately. 

How the Client Benefited from ARDEM’s AP Outsourcing Services

Through ARDEM’s accounts payable outsourcing model, the client successfully transitioned from costly internal AP staffing to a scalable, reliable, and efficient outsourced accounts payable process. 

✅ Cost Efficiency

Substantially reduced AP operational costs by transitioning to ARDEM’s outsourced accounts payable model from full-time AP analysts internally. 

✅ High Data Accuracy 

The client could maintain 100% data accuracy across invoice processing, payment records, and vendor on-boarding activities.

✅ On-Time Payments and No Late Fees

Through ARDEM’s invoice processing services, invoices were processed and submitted for payment on time—avoiding late fees or penalties.

✅ Elimination of Staff Turnover Disruptions

ARDEM’s team provided stable, reliable support, eliminating the disruptions from constant AP employee turnover.

✅ Streamlined and Scalable AP Process

ARDEM established structured workflows across invoice processing, credit card payment processing, employee reimbursements, and vendor management. These processes are now scalable and repeatable, reducing dependency on internal staff, through reliable accounts payable outsourcing services.

✅ Improved Vendor Relationships 

Rapid responses to vendor queries and on-time invoice processing helped strengthen vendor partnerships.

✅ Full Audit Readiness

Quick access to required documentation and transaction histories supported internal and external audit processes without delays. 

✅ Improved Vendor Relationships 

Rapid responses to vendor queries and on-time invoice processing helped strengthen vendor partnerships.

✅ Accurate Regulatory Filing

ARDEM’s assistance in timely Blue Sky EFD reporting helped the client maintain compliance.