6. Saving $300K and Hundreds of Hours Through Accounts Payable Automation with Sara Grafals, SVP of Regional Finance, Speedway Motorsports

“Automation” is quite the buzzword in the business and tech spaces, and for good reason. In this episode, Michael Praeger sits down with Sara Grafals, the Senior Vice President of Regional Finance for Speedway Motorsports, to discuss how AvidXchange’s automation tools have saved their team $300K and hundreds of hours of staff time. 

Resources mentioned:

• Customer Story: Speedway Motorsports Revolutionizes Finance Department Using AvidXchange

Some key takeaways from this episode include:

• The Covid pandemic forced a lot of companies to examine their processes and the ease of automation and streamlining for remote offices. AvidXchange allowed Speedway Motorsports to work seamlessly together in their accounts payable processes.

• We can learn so much from our teams about how we can grow as leaders. Creating an environment where your team can give you - and each other - constructive criticism in a respectful manner will help you grow exponentially.

• Before switching to AvidXchange, Sara had an exclusively paper system for onboarding and accounts payable. After switching, the team didn’t miss a beat in their processes because the automation and digital formats made it way easier to stay on top of.

“The Power of Change” is an AvidXchange podcast hosted by Michael Praeger, Co-Founder and CEO of AvidXchange. On this show business leaders discuss leadership topics, industry trends, and embracing change during good and bad times.  

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