Company profile

IntelAccount, a Web-based accounts payable processing and document management company, was founded in 2005 by David B. Crane, CEO, a new ventures veteran. The company serves clients and numerous resellers including banks, CPAs, consultants and associations nationwide from its headquarters in Minneapolis, Minnesota and sales office in Long Island, New York.

Small businesses, big savings

The A/P department is one of the last bastions of “traditional,” non-automated processes – except for large corporations that outsource the function. IntelAccount is breaking down that barrier and transforming the market, making automated A/P fully accessible.

IntelAccount was one of the first in the industry to focus on smaller businesses, enabling them to enjoy the benefits of automated A/P. IntelAccount clients realize savings of up to 70 percent over internal processes. They pay only for the services they use and benefit from expert personnel, the best technology and best practices. No more hiring and training staff, no more data entry or document storage. IntelAccount clients can maximize vendor discounts and increase A/P-related control. And as client businesses grow, IntelAccount automatically provides the support they need. No capital expenditures, systems upgrades or in-house staff to contend with.

Best practices for business – and the environment

Companies typically take 10 days to two weeks to process and pay a bill, and it costs an average of $10 to $20 to pay one invoice (IOMA, Managing Accounts Payable, 2003). IntelAccount replaces this laborious, time-consuming and costly process with a single action – online invoice approval – that takes mere minutes. With IntelAccount’s two-hour processing guarantee, clients have important management information at their fingertips in hours – not days. Plus, they can easily access their information 24/7 from IntelAccount’s secure database.

IntelAccount’s process is completely paperless. If the entire small-business market of approximately 500,000 companies went this route, more than 4.5 billion pieces of paper would be eliminated. Costly paper archive storage and searches for past invoices would be a thing of the past. With IntelAccount, all A/P documents are digitally stored and easily retrieved.

IntelAccount’s shared service business model enables custom solutions that deliver economies of scale and value for clients.

“IntelAccount has saved us money by eliminating the need for another employee and by reducing our copying and storage expenses. Now we spend much less time managing payables, allowing us to focus on our clients. The system is easy to use – everyone learned it in less than 20 minutes!”

Linda Scher, President, L&L Management Services