Lightyear

Avantages

Lightyear simplifies data entry of our invoices by saving us a massive amount of time and paper

Inconvénients

When we export invoices into a csv file to upload into our accounting package, some of the invoices in the csv file do not match the value of the invoice in Lightyear. It's usually only a few cents but I need to cross check every invoice each time I export all csv files against Lightyear.

Avantages

Taken a huge load in processing time of the supplier invoices, it can streamline the processes, identify duplicate invoices and eliminates any human errors.
It is also well integrated with Xero.

Inconvénients

Getting the right mapping for some suppliers due to their invoice formats can sometimes be challenging and ongoing.

Credit notes can at times be problematic as the reference in the credit notes can cause confusion in the processing (due to formats), they can be processed as the original invoices again rather than credit notes.

Avantages

“Great experience with Lightyear so far, extremely helpful software that saved me heaps of time and paper.

Very user friendly and easy to communicate with the rest of out team.

Support is very knowledgeable and quick in reply.

Highly recommended to all business.”

Inconvénients

“There is not downside with the software. Surely there will constant updates and look forward for it”

Avantages

I love how fast it is and the interface is easy..

Inconvénients

There's no sharing of Database, hopefully in the future..

Avantages

It's ease of use and flexibility in being able to move approvals

Inconvénients

In Dashboard, looking at the user list, it would be great if you could click on the user name and get a list of their approvals

Avantages

The implementation of the system was easy with excellent support from the team. It is very user friendly, all approvers have started using it without additional training as it is so straightforward. Processing invoices with Lightyear is super easy and using the system finally allowed us to go totally paperless.

Inconvénients

There is no downside of the system, I cannot mention anything negative about it.

Avantages

Lightyear allows for excellent reporting and intelligence

Inconvénients

The delay in mapping new suppliers, although there is an option to speedily approve.

Avantages

Amazing support by our excellent man [sensitive content hidden].
Allows me to communicate to the staff members and more importantly to the suppliers.
It also integrates very well with our POS and most importantly within my role is how it eliminates the data entry and sign them off straight to Xero.

Avantages

Time saving
Store Invoicing
Approval workflow

Inconvénients

Bulk PO process will need improved. 3 way match is bit tedious

Avantages

Mapping allows automated billing preparation which saves time.
Duplicates are traceable in high volume bill runs.
Processing times are reduced and less paperwork.

Inconvénients

Can be a slow connection on the odd occasion.

Avantages

Document Management, Approval Workflows, Integration, Data Extraction, User-Friendly Interface

Inconvénients

Nothing ive come across i don't like yet.

Avantages

Processing invoices, this also shows duplicated invoices, easy to track.

Inconvénients

System captures the wrong information sometimes.

Avantages

I love how easy it is to use and it makes processing invoices so quick.

Inconvénients

truly i like everything about it and i am satisfied

Avantages

From Invoice mapping to statement reconciliation, it remains the best system I have used. Missing invoices are easily located by the auto -mailing system to Suppliers.

Inconvénients

Any problems that I have encountered have been handled by the Support team (or just the chat service ) so I do not have any issues.

Avantages

Great product, easy to use, good value for money, amazing customer service who have come up with a solution to any issue we had. No more filing!

Inconvénients

There is nothing I have come across yet I don't like about Lightyear.

Avantages

Easy to use and understand one touch payables

Inconvénients

Does not integrate to cooking the books
Would be good to have multiple accounts emails attached

Avantages

The functionality allows automatic capture and coding of purchase invoices. This enables invoice processing and approval to be made in an efficient and effective way without the need to key in the invoice details.

Inconvénients

It would be good to have some service or item codes under service bills which we could use to cover withholding tax

Avantages

Easy and intuitively designed. Knowledge base has everything you need to know, and if not then you are guaranteed to get a response within an hour if you raise a ticket. Had the most amazing helpful onboarding specialist Phil!

Inconvénients

There is nothing I don't like about lightyear!

Avantages

- Invoice Processing: Significant amount of time saved for me to focus on other aspects of the business, with confidence, knowing that I have accurately captured and processed all invoices.- Security: bank fraud detection is a very powerful feature of the lightyear system as well as its ability to flag duplicate invoices.- Support: the Lightyear team are incredible. From implementation to processing/mapping support, Lightyear are unreal.

Inconvénients

N/A: We have currently used Lightyear for < 6 months but have explored a significant amount of its functionality and capability, which has been an incredibly positive experience for myself and the business.

Alternatives envisagées 

Tipalti

Pourquoi passer à Lightyear

Far superior invoice processing functionality and advanced P/O system that could not be matched on quality and price.

Avantages

Not much not to like! The fact that you can have a month's free trial to test it out and set everything up is brilliant. It meant we could trial the product at no cost (including excellent support from [SENSITIVE CONTENT] ). Although there was paid implementation assistance (cheap!) available I was able to set the whole thing up without having to resort to that (the customer support team is on hand 24/7 to help with any issues).

The product is not that mature - which could be seen as a downside. However, the Lightyear team is so responsive that it doesn't actually come across that way. Most of the niggles that I had at the beginning (just over 6 months ago) have already been resolved through the regular product updates, and I have confidence that the remainder will be resolved in due course.

The product is very easy to set-up and use (as evidenced by being self-implemented). We have implemented in four locations, and once you understand how things work, it only really takes a couple of hours of setup to do each new location.

Inconvénients

Given the nature of the rapid development of the product, there is still some work to be done to rationalise all the features (e.g. 'Edit Bill' permissions were add retrospectively to the 'Task Approver' role, so they don't integrate in a completely cohesive manner with the interface). However, I understand that the team are proactively working on that aspect.

Avantages

There are so many things I love about Lightyear. The new statement reconciliation feature though is a game changer! Lightyear tells you what invoices are missing and allows you to contact the supplier to request missing invoices direct from the software. Amazing!!!

Inconvénients

There's not much I don't like about the software, and the things that I would like are already in the works.

Alternatives envisagées 

Dext

Pourquoi choisir Lightyear 

Invitbox was been owned by Reckon and had not supported or upgraded for some time. The original developers for Invitbox took it back and rebuilt it from the ground up. Invitbox, even unsupported and without upgrades, was an awesome piece of software and superseded the functionality of it's competitors such as ReceiptBank. Since the original team was coming back on board, it was a no-brainer.

Pourquoi passer à Lightyear

With Lightyear, you can delegate approvals into groups, so if you have multiple cost centres like the hotels that we do the bookkeeping for, the Chef isn't seeing bills which need to be approved by the Cellarman. Also, you can have suppliers that you don't want everyone to see, so you can select that only certain people see them. As well as multi-level approvals so the General Manager can check off and I as the bookkeeper can check the data is accurate before bringing it into the accounting software. In conjunction with the integration with Xero happens within seconds so you're not waiting for your bills to come across from one software into another.

Avantages

The invoice approval function was the reason for initially coming across to Lightyear but the statement reconciliation process was a hidden surprise that has enabled my last remaining paper based clients to take the leap to being completely paperless. The integrity of the data being exported to the accounting software is much better than other programs.

Inconvénients

My clients who use purchase orders are currently needing to batch together the PO pdf & supplier invoice images before sending to Lightyear which would be amazing if we could either match them up within the app, or issue PO's direct from the app which are then able to be viewed with the supplier invoice.

Alternatives envisagées 

Dext

Pourquoi choisir Lightyear 

My clients needed a program which offered a layered approvals process

Logiciel antérieur 

Dext

Pourquoi passer à Lightyear

It was some time ago now and I can't recall all the other programs we looked at, but Lightyear really came out as the only contender due to the price point and the approvals process.

Avantages

Lightyear is visually pleasing-it's quite simple to use and understand. From the user perspective who inputs data on invoices and approves them, it's straightforward and the layout of the software does not show you more than what you need to see, however, underneath the simple processes there is complexity. Lightyear makes supplier creation, GL code settings linked to export files such as Excel, and GST codes etc are somehow made simple to set up. One thing I find particularly great is whenever I input an ABN number during the Supplier Creation process, it autofills the Supplier Name field. Additionally, this is a drop down menu, so i am able to choose ANY of the Business Names linked to this ABN.

Inconvénients

Sometimes, there have been system bugs and I'm unable to export data for a brief amount of time, or when we top up credits to use the system, the old credits are not rolled over their expiry date. It would be great if there was a notification in place to let us know that our credits are expiring soon or we are running low. Also, there are some things which cannot be customised. For example, the Export to File which is a function that exports invoice data into a spreadsheet, cannot be modified from my end. Lightyear do add features from time to time, but I'm not sure if consumer recommendations are actually involved in the process.

Avantages

I like how user friendly this software is and if I am ever stuck then support is always available. I have been able to save a lot of time and train a few interns with Lightyear. Being able to access old invoices in the online archive is great too. The statement reconciliation process has finally allowed me to go completely paperless which makes my work more accurate.

Inconvénients

At times syncing with Netsuite lags so it takes a bit longer to sync.

Avantages

We love how this product enables our clients to check & approve their invoices before the invoices land in Xero. We know that anything in Xero is checked & ready to be paid. Easy for multiple people to have access & sign off. All AP is in one place & finding historical invoices is a breeze.

Inconvénients

Reading OCR receipts has been a bit behind other competitors but improvement is coming through really quickly.

Avantages

Every step of the process has been excellent and the ongoing support has continued to be excellent.
The initial contact was responsive and guided through the set up to allow us start processing quickly.
The product is logical to follow and easy to view and provides options every step of the way.
The data extraction is very accurate and adaptable to different supplier invoices and the mapping team is very quick. This is more accurate than our previous software.
To email queries from within Lightyear saves so much time and hassle looking for emails and provides great transparency.
Separation of users to their department only
Choosing where we export to Xero has been essential to facilitate approval levels
Lightyear continues to improve their
Service to queries has been responsive and solutions are specific to our company using information and not a regurgitating the help function.

Inconvénients

There is a lot of functionality and detail so can be a little overwhelming.
Support videos and notes focus on administrators but could find information on guiding from the other user roles perceptive after initial guide when first login

Avantages

The support from the team is fantastic and are always on hand to help and assist.
Feedback and suggestions on the system are welcomed and implemented if possible and useful.
Invoices no longer need manually entering!
Option to automate the process of receiving invoices entirely, doing away with any need to upload - instead just get them emailed directly into Light Year.

Inconvénients

A few of the options appear to be placed on pages I wouldn't expect, but nothing particularly bad.

Alternatives envisagées 

Dext

Pourquoi passer à Lightyear

The other options were either underdeveloped, or offered no a very strict, uncompromising service that did not fit within our company. They also relied too heavily on OCR. Light Year while newer than some of it's competitors, chose a different approach and worked with us to see if their solution could help, and even added and updated features to make it fit more into our company.

Avantages

If I have to choose just one favourite thing about lightyear it would be the mapping which saves me so much time, however, I continue to find benefits of this product all the time. From all the automations, to the viewable history, through to the supportive team. I could go on and on

Inconvénients

I love this product for my use, however I am not sure if the department heads/authorisers of the invoices see all the detail I would like them to be checking/confirming as we use job codes as well as ledgers codes.

Avantages

I love the automation of data extraction and the built in approval process Lightyear has to offer. It helps me to get my clients data correct, having the correct expenses and payables, and it means I can get multiple levels of approvals before the invoice hits the GL.

Inconvénients

Sometimes the OCR doesn't work the way I expect, but I know they are constantly improving the software and I'm confident it will be better in future.

Alternatives envisagées 

Dext

Pourquoi passer à Lightyear

Lightyear data extraction was much better than the rest and the built in approval process means I can ease the pressure from the business owners and put it back on the staff, but the business owners still have ultimate control of the suppliers.

Avantages

Once set up, it's a one-stop-shop for invoice receipt, accounts payable and receivable reconciliation, cost management, and business information. It is intuitive and simple to use, extremely cost-effective and takes out some of the most mundane and laborious tasks so I have more time to work on improving my business and keeping front-of-house. I could not recommend it more highly.

Inconvénients

There's nothing I dislike about this product - I am overly happy to have it as part of my suite of tools.

Avantages

running my multiple entities and division within the one program

Inconvénients

anything that doesn't work, a simple call to support and they fix it right away or find an alternative solution

Avantages

Integrates seamlessly and easily with Xero - our accounting software

The option for single, double or exec approval process within Lightyear - meaning bills can be directly exported to the payment tab in Xero rather than draft.

Ability to file statements within the software - very handy with suppliers that send multiple dkts then ask you to pay on a statement

Inconvénients

Minor wish list item:The archive tab for completed bills would be handier to search if located on the horizontal tab area where reviews, approvals are shown - rather than only accessible from the left-hand menu bar.

Avantages

Complete visibility across supplier invoices either via the dashboard as a quick view or in detail across all stages of approvals. This is especially helpful at the end of the month to see if all invoices have been through the entire approval process and exported to our accounting system before close off.
Search functionality is helpful and shows which stage of the process each invoice is at - search results can be exported.
The audit trails and notes show full history of the life of the invoice and save a lot of external communication and queries.
Implementation was easy after the demonstrations given to us by [SENSITIVE CONTENT] who took the time to understand what we wanted (which was a little bit out of the ordinary!) and configure the settings accordingly. We gained confidence in Lightyear through the demonstration/training process and the additional webinars.

Inconvénients

Looking forward to enhancements to the mobile app to allow more functionality while on site.

Avantages

Simplicity - easy for non-finance users to navigate
Clear audit trail on all interactions with documentation
Very cost efficient

Inconvénients

I would like to see a bounced email feature when a supplier directs their invoice to a slightly incorrect email address - as far as I can see, if the Lightyear email address is incorrect, neither the supplier or the receiving entity is aware

Avantages

The approval options definitely is the differential of Lightyear. From a simple 2 steps approval, to up to 3 executive approval, there are many options that can suit the most complex business.
Another strong point from Lightyear is their support. You usually gets a response on the same day.

Inconvénients

Their subscription is based on the number of transactions, so if your business manages a large quantity of bills, it might become a bit expensive.

Alternatives envisagées 

Dext

Pourquoi passer à Lightyear

Due to their approval options.

Avantages

Coming from the paper world of Accounting to Lightyear has transformed the business and the happiness of the staff in the accounting team. The ability for invoices to be automatically coded, digitally stored and approved through an online platform is truly excellent.
The implementation team at Lightyear were fantastic, leaving no stone unturned and a special shout out to [SENSITIVE CONTENT HIDDEN] who was instrumental in the process from start to finish. Well done Lightyear team

Inconvénients

There is not much to dislike about this product. When implementing, there was no Purchase Order function however this is now a new feature on Lightyear so very impressed with the speed to get this up and running with more to come :-)

Avantages

The functionality of Lightyear is incredible. This solution fully incorporates digitisation of all aspects of the AP function including data extraction from invoices, a full invoice depository, approval workflows via email and app, audit trails, seamless integration with our accounting system, automated supplier statement reconciliation, to name but a few. It can even verify supplier invoice line pricing to agreed pricing product price lists!

The system is user intuitive, with the process was so natural that rolling this out across the team was simplicity itself.

And pricing is scalable to usage, providing totally affordable Rolls Royce functionality to any organisation.

Inconvénients

Have found no cons to date! Thee are certain upgrades in the pipeline for approver interface via the app and email which will further enhance the already existing superiority of this product.

Avantages

First of all, Lightyear is a standalone application that you can, but don't have to integrate with your accounting software. Second of all, strightaway you know the costs of adding it to your business. The price list is on their website and it's fair.
The setup did require some thinking about workflows and user experience, so I took my time there.
But once the suppliers and maps are set up and automation rules kick in, the whole AP process becomes much less painful. I almost enjoy it now ;). The most important features like reading the invoices, accurately mapping them, and assigning them to correct approvers work very well. It saves time, effort and annoyances. The Lightear support team is a very helpful and friendly bunch. I even did a small survey among colleagues and asked what they thought of Lightyear. No surprise - everyone likes it. I highly recommend this product!

Inconvénients

No option to add multiple attachments to invoice at once.

Avantages

We never lose an invoice. Even if we accidently delete an invoice we can return it for processing. We have reached our goal of being almost paper free. The processing, approval, review and signing off tabs are wonderful and provides us with a simple system that provides accountability from our department managers. So easy to use and saves so much time.

Inconvénients

A very small number of our supplier invoices can't be mapped but with the overall benefits of this system it is just a minimal issue.

Avantages

Lightyear allows us to easily manage the accounts payable process across our entire client base. It's unqiue mapping extraction process as well as logical flow of information, clean user interface, filing cabinet, approval process, inventory and duplicate recognition make it in my opinion the best accounts payable solution on the market. There support team is second to none.

Inconvénients

Integrations with more POS programs or even job management programs would only increase Lightyears potential.

Alternatives envisagées 

Dext

Pourquoi passer à Lightyear

The additional functionality and accuracy of the extraction process/technology.

Avantages

Software is very easy to use and to understand. Screens provide relevant invoice information.
Corrections on invoices can be made easily if required by the user.
Adding notes to invoices is very helpful for future reference.
Looking up archived invoices is also very useful. Creditors statements can also be stored so no need to print them.
Setting up new users is very easy and quick.
Invoices that need to be mapped by Lightyear are mapped in a timely manner .
There are regular improvements and updates on Lightyear which benefit the user.

Inconvénients

Hard code description against suppliers when it is always the same description that needs to be entered

Avantages

Lightyear has completely transformed the whole business and made life so incredibly easy. From the transparency of data extraction and approval process through to the electronic filing this system is truly brilliant. I cannot recommend it enough.

Inconvénients

I really can't think of any cons. If there is a feature that is missing, the development team appears to take on board suggestions to incorporate it into the next update and they appear to regularly update and upgrade features.

Avantages

It took all manual inputting invoices and reconciliation to statements away saving huge amount of time, was 100% accurate taking away human error, provided great audit trail and reporting, clear lines of authorisation of invoces.

Inconvénients

There were no obvious cons that we could see

Avantages

The ease of use. We have varying levels of computer literacy across the group, and I haven't had any complaints or confusion about the product.

Inconvénients

some times the mapping/mapping requests can cause delays in processing.
though this would be a problem in any like system.

Avantages

User friendly and easy use and no effort required to understand every thing is self explanatory.

Inconvénients

No such other tool available in the market that is near close to the lightyear performance.

Avantages

Its easy to use. Its very clear and the team and customer service are excellent. MIssing invoices are always easy to locate.

Inconvénients

Sometimes I find it difficult to map some of the smaller businesses, but as someone who is not techno savvy this is just a small problem.

Avantages

Streamlined our processes and added features of line mapping, statement mapping, price matching

Inconvénients

that when you log into the app on mobile devise you have to re-enter the password every tiem

Avantages

Having Lightyear enables us to do in minutes what used to take hours of manual data entry to enter suppliers bills into our accounting software.

Inconvénients

I find it annoying that I have to set up a supplier in Xero, raise a test bill, then pull that back into Lightyear to set up a supplier in Lightyear.

Avantages

Having data extraction & approval within one system is a game changer for us.
The approval process is simple to use once you spend the time to set it up.
The Keyword feature works really well when working with multiple locations.
The mobile phone app is easy to use and easy to switch between companies.

Inconvénients

No ability on the mobile app to add a note to the receipt/invoice and no feature for multiple page or long receipts / invoices.

Avantages

Its design has been very well thought, giving you all the details that you need in just one screen. Processes from ordering to approving invoices are easy to understand for any users.

Inconvénients

Only one weakness found: accounts list cannot be restricted by cost center. Though Lightyear is looking into it.