Implementing and Optimizing Airbase’s Guided Procurement and AP Automation at Retool

Background and Challenges.

When Chloe joined Retool, the company had already rolled out Airbase, but she quickly identified opportunities to enhance its functionality. Before Airbase, Retool had been using a less robust product that presented several challenges, prompting the decision to adopt Airbase for improved AP management and procurement workflows.

Chloe highlighted that one of the main factors behind choosing Airbase 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’s embedded logic to streamline both simple and complex requests. She explained:

“When I first got here, they had used a lot of workarounds to get as much advanced logic into the Guided Procurement workflow as possible. Then as more features were rolled out, we were able to simplify those workarounds.”

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, Chloe explained, using the example of onboarding contractors:

“You want a new contractor, well, HR needs to know to put them into our contractor-tracking HRIS and IT needs to know because they need to send them a laptop and get them onboarded for Slack and other things.”

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’s easy-to-use tools to make these adjustments:

“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’s AP automation has helped streamline this process:

“We’re getting nine or 12 invoices a month and trying to figure out which one goes with which is based on a tiny little indicator on the invoice. With the AP automation feature, it’s now figuring out and tying those back together.”

Chloe praised the AI-driven matching system that flags the correct SOW without errors, reducing the manual effort needed for invoice reconciliation. Additionally, Airbase’s automation has improved accrual accuracy:

“Having POs gives us much more visibility into what should be accrued, what should not, or at least gets us asking the right questions.”

Enhancing Spend Culture and Strategic Insights.

Chloe acknowledged that Airbase’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.”

This proactive spend culture, enabled by Airbase’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 proved beneficial. Chloe noted that the Airbase system’s overall functionality for handling multiple currencies was seamless:

“Other than that, the rest of the currency things are very easy — an extra click of a button, and you’re good to go.”

She also mentioned that Airbase’s integration with accounting software, like NetSuite, was smoother than that of other systems she had used in the past.

Security and Fraud Prevention.

Chloe appreciates Airbase’s robust fraud prevention system, which flags potentially suspicious activities:

“We sent out a payment, and we got a notification asking, ‘Were you sure about this?’”

She noted that compared to other vendors, Airbase provides more notifications, warnings, and communications around potential fraud, contributing to greater peace of mind.

Customer Service and Support.

Chloe had high praise for Airbase’s customer service team, particularly for helping her navigate product updates and feature enhancements. She mentioned that her team has worked closely with Airbase’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.”

Conclusion.

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 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.”

This case study highlights how a strategic implementation and ongoing optimization of Airbase’s tools can significantly improve a company’s financial operations, ensuring both scalability and operational efficiency.