Westlake Village, CA and St. Paul, MN (PRWEB) February 16, 2012
Cforia Software, Inc. (Cforia) a global company providing industry leading Order to Cash Automation software that provides permanent cost reduction for businesses globally, today announced partnering with API Outsourcing, Inc. (API) a leading provider of Finance and Accounting Outsourcing services (FAO). This partnership will strengthen Cforia and API’s capabilities in offering an End to End, Order to Cash (O2C) solution. This single technology platform will enable superior performance in terms of service metrics, maximize cash flow and reduce costs, while facilitating real time control gained through an integrated view of the processes.
“API is the perfect complement to our product offering. Between both companies, we are delivering the first end to end platform designed to permanently reduce cost in all segments of the order to cash process. We can work with any company to simultaneously reduce cost and improve financial performance in O2C,” said Chris Caparon Chief Operating Officer at Cforia Software.
Caparon continued, “Cforia’s workbench seamlessly integrates with API’s cloud-based automation platform which completes the O2C process including print/mail room outsourcing capabilities, lock box/ACH integration, on-line or e-billing (electronic billing) and payments and on-line document archival and retrieval capabilities.”
“We are truly excited about this partnership with Cforia,” stated Gary Halleen, President and CEO at API.
Combining advanced Order to Cash Automation with Online Payments and e-Billing improves customer adoption of online technology beyond standalone EBPP. This solution directly addresses some of the issues stemming from separate data silos. The integrated platform leverages A/R Department knowledge that already has email addresses for most customer contacts.
Standard A/R Department activities can be leveraged to encourage customers to adopt online technology. For most companies, Order Hold Management currently involves collection calls to a customer to inform them that their order cannot ship until account delinquency is addressed. Combining A/R Automation with Online Payments changes the workflow to sending an automatic Order Hold email reminder that includes an invitation for customers to go online and make their account current with an electronic payment.
Incoming calls for invoice reprints become an opportunity to switch customers from calls, printing and faxing to becoming online adopters. Every inbound call becomes an opportunity for A/R staff to walk customers through logging into an Online Payments and e-Billing portal and teaching them how to view the bills themselves. Make your A/R Department evangelists for your company’s online technology.
Knocking down data silos between customer payments and the Accounts Receivable Department makes payments instantly visible. Avoid common problems of not releasing held customer orders in a timely manner and scheduling dunning calls and letters for a bill that has been paid. The platform will also provide a means for customers to communicate problems with delivery of goods and services back directly to their A/R person without waiting in a phone queue.
About API Outsourcing Inc.
API Outsourcing, Inc., is a leading onshore Finance and Accounting Outsourcing (FAO) provider of innovative state-of-the-art document management, Procure to Pay (P2P), Order to Cash (O2C), and accounting services headquartered in St. Paul, MN. API is ranked as the #1 global accounts payable service provider in the Black Book of Outsourcing’s State of the Global Finance and Accounting Outsourcing Industry. API transforms manual paper-dependent payables and billing processes through its imaging, bill delivery and workflow systems to minimize the labor intensive work associated with back-office processing and enable customers to focus on their core business. Outsourcing benefits include improved cash flow through improved DSO and controlled DPO. This combined with reduced processing costs, increased business intelligence and improved customer and vendor relationships provides the ultimate value proposition around permanent cost reduction. API currently processes over one hundred million transactions annually, delivers world-class quality, provides exceptional customer satisfaction, utilizes Six Sigma practices and performs a SSAE 16 Audit annually. For more information, please call, (651) 675-2600 or visit http://www.apifao.com
About Cforia Software, Inc.
Cforia is a global company that provides industry leading Order to Cash Automation that is used by large corporations to manage over $186 Billion in open A/R. Some of our largest customers include Textron, Thermo Fisher Scientific, Citizen Watch and NAPA Auto Parts. Cforia’s software is driven by superior technology that includes real-time integration across disparate ERP systems, order hold management, separate clean and dirty receivables tracking, plus handles multi-currency, multi-languages and multi-business units. Our comprehensive software suite maximizes cash flow through an integrated system that includes Cash Application Automation, Credit Management and Collections Software and an Online Payments and eBilling Portal. Cforia leverages Data Integration Connectors and in-house project resources to implement the entire platform in one to three months. Cforia Data Integration Connectors facilitate rapid real-time integration with your corporation’s existing ERP systems, Document Imaging, third party credit data, email and facsimile servers. Prepackaged real-time connectors keep Cforia’s Order to Cash Database continuously up to date to assure efficient functionality and greatly shorten project timing and risk by avoiding custom data integration. Cforia’s Order to Cash Software is designed to allow users to create automated dunning letters, change collection logic and create reports themselves. Finance department professionals have total control through setting changes and drag and drop wizards that perform complex tasks such as creating letters with data merges and reporting without programming. For more information, please call, +1.818.871.9687 or visit http://www.cforia.com.