Now we are able to spot duplicate invoices easily, ensure that we are not overcharged and take advantage of early payment discounts, something which was more labor intensive in the past.
St. Paul, MN (PRWEB) September 10, 2009
API Outsourcing, Inc. (API) -- http://www.apifao.com, a leading provider of Finance and Accounting Outsourcing services (FAO), and The Heritage Foundation, a leading Washington, DC based public policy institute, have announced the successful implementation of API's Accounts Payable Service to significantly reduce processing and handling costs by converting to a fully electronic process. API's user friendly service was the best fit for Heritage because it is a fully automated end-to-end solution, which can be quickly implemented without requiring significant internal IT support. The ability to route electronic invoices for approval on a web based system helps to improve controls over the process and reduce the time required to process invoices; which enabled Heritage to become more efficient with processing costs and take advantage of vendor discounts.
"We selected the API solution because they demonstrated superior customer service skills, had a product which could deliver and were clear leaders in the automation of the Accounts Payable function. API also proved they were flexible and understood our immediate need and how it related to our long term vision. We couldn't have asked for a better system to reduce all our manual processes, which were extremely time consuming and inhibited growth," stated Mark Schreiber, Chief Accountant at Heritage. "Now we are able to spot duplicate invoices easily, ensure that we are not overcharged and take advantage of early payment discounts, something which was more labor intensive in the past."
"API has helped Heritage by improving the timeliness of invoice approvals which has enabled them to capture payment discounts and providing with more business intelligence about their spending" said Gary Halleen, President and CEO of API Outsourcing, Inc. "With this information they are able to identify which programs or initiatives are the most effective so that they can target them in the future."
About API Outsourcing:
API Outsourcing, Inc. is a leading onshore Finance and Accounting Outsourcing (FAO) provider of innovative state-of-the-art document management, accounts payable, bill presentment and accounting services headquartered in St. Paul, MN. By transforming manual paper-dependent payables and billing processes through our imaging, bill delivery and workflow systems, customers minimize the labor intensive work associated with back-office processing and can focus on their core business. Outsourcing benefits include improved cash flow, reduced processing costs up to 60%, increased business intelligence and improved customer/vendor relationships. API currently processes over one hundred million transactions annually, delivers world-class quality, provides exceptional customer satisfaction, utilizes Six Sigma practices and performs a SAS 70 Type II Audit annually.
Founded in 1973, The Heritage Foundation is the nation's most broadly supported public policy research institute, with more than 465,000 individual, foundation and corporate donors. Its mission is to formulate and promote conservative public policies based on the principles of free enterprise, limited government, individual freedom, traditional American values, and a strong national defense
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