Implementing and Optimizing Airbase by Paylocity's Guided Procurement and AP Automation at Retool
We spoke with Chloe Lee, the Director of Accounting at Retool, the software development platform powering critical applications at companies like Amazon, OpenAI, and Volvo. Retool enables developers to build custom apps and automations in a fraction of the time, combining the speed of drag-and-drop with the flexibility of code.
Chloe has become a power user of Airbase by Paylocity's Guided Procurement, configuring complex workflows for spending. She also introduced Airbase by Paylocity's workflow-building functionality to other teams, who now use it to route requests across the organization for other purposes.
Key Takeaways
- Optimized no-code workflows for streamlined approvals.
- Improved spend visibility for all stakeholders, including HR and IT.
- Created a more proactive spend culture across the company.
|
The problem |
The solution |
The results |
| Rapidly scaling company needed visibility and control over employee spending. | Create a single point of entry for all spend that serves as a collaboration platform for all stakeholders. |
Able to keep growing without subjecting the company to risk.
|
| Complex approval requirements across several stakeholders relied on workarounds. | Configurable review and approval workflows using low-code, no-code drag and drop, and conditional workflows. | Streamlined approvals and workflows configured to handle Retool’s specific needs. |
| PO matching and management. | Automated PO matching to SOWs. | Better invoice processing and accrual settings save time and reduce errors. |
| Multi-currency payments. | One-click foreign currency payments. | Efficient way to pay offshore vendors and international employees in their local currency. |
Background and Challenges
When Chloe joined Retool, the company had already rolled out Airbase by Paylocity, but she quickly identified opportunities to enhance its functionality. Before Airbase by Paylocity, Retool had been using a less robust product that presented several challenges, prompting the decision to adopt Airbase by Paylocity for improved AP management and procurement workflows.
Chloe highlighted that one of the main factors behind choosing Airbase by Paylocity was “Guided Procurement being embedded in it and making Airbase the source of truth.” This feature was instrumental in addressing the need for streamlined processes and visibility across different departments.
Implementation of Guided Procurement
Upon joining Retool, Chloe noticed that the initial implementation of Guided Procurement had several workarounds. As more features were rolled out, Chloe was able to simplify workflows using Airbase by Paylocity's embedded logic to streamline both simple and complex requests.
The advanced logic also allowed various departments, including HR and IT, to seamlessly integrate their workflows into the Guided Procurement process. This improved collaboration across teams.
This use case exemplifies how Retool has leveraged Guided Procurement to centralize communication and eliminate ad hoc processes, such as emailing or Slack notifications.
Workflow Reconfiguration and No-Code Tools
A significant part of Chloe’s role involved reconfiguring and optimizing the Guided Procurement workflow. She utilized Airbase by Paylocity's easy-to-use tools to make these adjustments sharing that "This last September, I’ve reconfigured the whole thing using the no-code, low-code option of drag and drop to create the workflow."
This reconfiguration allowed for more customization based on the type of request, using conditional logic to route workflows efficiently. This customization was an improvement over the original system, which lacked flexibility in handling various procurement types.
Improvements in AP Automation and Vendor Management
One of the challenges Retool faced was managing professional services vendors with multiple Statements of Work (SOW). Chloe described how Airbase by Paylocity's AP automation has helped streamline this process. Chloe also praised the AI-driven matching system that flags the correct SOW without errors, reducing the manual effort needed for invoice reconciliation. Additionally, Airbase by Paylocity's automation has improved accrual accuracy:
Enhancing Spend Culture and Strategic Insights
Chloe acknowledged that Airbase by Paylocity's Guided Procurement had a positive impact on Retool’s spend culture by fostering a proactive approach:
“We always do it proactively here. So, I think that was one of the best moves our controller did early on — let’s just spin up something as quickly as we can.”
Chloe Lee, Director of AccountingThis proactive spend culture, enabled by Airbase by Paylocity's tools, sets a solid foundation for Retool’s growth. Chloe emphasized how this early adoption would benefit the company as it scaled by managing decentralized spend under a centralized system.
Vendor Payments and Currency Management
Managing payments across different currencies and subsidiaries was another critical area where Airbase by Paylocity proved beneficial. Chloe noted that the Airbase by Paylocity system’s overall functionality for handling multiple currencies was seamless. She also mentioned that Airbase by Paylocity's integration with accounting software, like NetSuite, was smoother than that of other systems she had used in the past.
“Other than that, the rest of the currency things are very easy — an extra click of a button, and you’re good to go.”
Chloe Lee, Director of AccountingSecurity and Fraud Prevention
Chloe appreciates Airbase by Paylocity's robust fraud prevention system, which flags potentially suspicious activities She noted that compared to other vendors, Airbase by Paylocity provides more notifications, warnings, and communications around potential fraud, contributing to greater peace of mind.
“We sent out a payment, and we got a notification asking, ‘Were you sure about this?”
Chloe Lee, Director of AccountingCustomer Service and Support
Chloe had high praise for Airbase by Paylocity's customer service team, particularly for helping her navigate product updates and feature enhancements. She mentioned that her team has worked closely with Airbase by Paylocity's support to resolve issues:
“The amount of iteration that I’ve seen on the product since I started working with it about a year ago is definitely one of the reasons why we wanted to renew with Airbase.”
Chloe Lee, Director of AccountingConclusion
Chloe’s experience at Retool underscores the value of having an integrated solution for AP Automation and Guided Procurement. From streamlining complex workflows to enhancing visibility and accuracy in financial processes, Airbase by Paylocity has empowered Retool to build a proactive spend culture and manage procurement and payments with greater efficiency.
Chloe summed it up well:
“Having the procurement and AP in the same software is better than before. Airbase has better structure to set up workflows, which makes it easier to manage.”
Chloe Lee, Director of AccountingThis case study highlights how a strategic implementation and ongoing optimization of Airbase by Paylocity's tools can significantly improve a company’s financial operations, ensuring both scalability and operational efficiency.
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