Growing to 250 locations meant that MB2 Dental’s previous systems couldn’t handle their increasing account volumes, leading to error-prone manual processes, labor-intensive data entry, and escalating overhead.
MB2 Dental is a fast-growing dental management and practice development company that allows dentists to invest in one another from both a financial and professional standpoint. They provide back-office assistance to independent dental offices and enable dental practices to access the benefits of partnering with a larger organization. MB2 partners have the advantage of centralized services to incorporate best practices, improve profitability and grow their brand. One of America’s 5,000 fastest growing companies in 2020, they continue to add new entities by the day.
As they were growing, MB2 needed a way to process thousands of monthly invoices across 250 locations without adding additional overhead. When they were just 20 clinics, they installed both QuickBooks and Bill.com to manage accounts, but as they grew, these systems could no longer handle the number of accounts that needed to be processed. They needed something robust, a system capable of accelerating the growth of MB2 Dental.
“It saved our sanity. It’s so much easier to use. It integrates with our software, and it’s web-based so that it can be used from anywhere, and we can give access to users who want to review their invoices and payments without emailing the AP department for help.”
— Sarah Sawyer, Controller at MB2 Dental
With so many entities, QuickBooks was overwhelmed. Pulling a report across a couple of accounts could quickly result in the whole system freezing and crashing. It could take up to three hours to run a simple report, and even then, it might error out. They needed to find a system built to handle the size of their operations as they scaled.
Individually synching info to each entity was slow and labour-intensive because they were layering different technologies. They spent a disproportionate amount of time troubleshooting synch issues on chat with the technical team.
Errors were becoming routine, and reports were unreliable. As a result, they lost time trying to correct mistakes that would never occur with automated AP processing.
Price was escalating because they were being charged for every user, on every account, for every single entity. For a company that was adding upwards of twenty new entities a month, this was simply not feasible long term.
Getting new hires up to speed was slow because they had to learn to operate several layered systems
and workflows.
With a plan to continue growing and adding new locations, MB2 needed a way to manage a greater
number of AP invoices and payments without being overrun on their business’s management side.
After much research, they settled on two products that could integrate within Microsoft Dynamics to provide a comprehensive AP solution. This fully integrated solution combined the power of Binary Stream’s Multi-Entity Management with the powerful AP accounting functionality of Fidesic.
“Working Binary Stream and Fidesic has been amazing. They both understood our needs and were able to help a company of our size. Right now, we are at 240+ companies that are all integrated, and all the information easily flows between systems.”
— Sarah Sawyer, Controller at MB2 Dental
Three weeks after MB2 made the decision, they could automatically capture invoice data, get electronic approval, and push that data directly into their Dynamics accounting system without any manual entry.
AP coordinators can now focus on more strategic areas of the job, rather than just trying to get invoices out in time.
Before this, they spent countless hours trying to print and post all invoices and checks. With automated invoicing, they no longer need to worry about this and merely need to double-check for accuracy and errors.
The team can now quickly double-check invoices, log in to different entities and access information within Microsoft Dynamics without syncing any information or accounts.
MB2 Dental staff can pull reports without freezing or crashing the system. They can now log in and access information without any complications, making day-to-day usage of the system much less frustrating.
“We have been able to trim our invoice processing from 10 days to 5 days. The automatic coding of invoices in the system has helped improve efficiency as well.”
— Sarah Sawyer, Controller at MB2 Dental
