BirchStreet Systems Partners with BancTec to Offer Complete AP Automation Solution
BancTec’s invoice processing service added to procure-to-pay (P2P) offering
IRVING, TX – June 24, 2014 – BirchStreet Systems, has entered into a partnership agreement with BancTec to sell BancTec’s invoice processing service. BirchStreet will be reselling BancTec’s invoice processing capabilities — including receipt, open, prep, scan and data capture, to their extensive existing customer base along with new customers throughout the world.
BirchStreet is the number one cloud platform for eProcurement and Procure-to-Pay in the hospitality industry. BancTec is a global leader in business process outsourcing (BPO), providing financial transaction automation and document management services. Together, both companies’ strengths and core functionality provide increased value to customers.
The addition of BancTec’s invoice processing service augments BirchStreet’s established procure-to-pay (P2P) system offering, a fully integrated and automated end-to-end business process, which starts with suppliers, continues with ordering and receiving, and ends with payment. BancTec’s invoice processing service gives BirchStreet customers greater invoice visibility and predictable disbursement schedules, reducing cycle times and optimizing working capital. The BancTec service also increases accuracy by eliminating manual data entry and increasing control and visibility.
“eInvoicing and automated payments are among the most demanded functionality in procure-to-pay today, with a measurable ROI due to the reduction of labor and process cost and overall process efficiency and improvements,” said Bill Hirsch, Vice President of Sales & Marketing at BirchStreet. “We have worked with BancTec for several years, integrating them with our customers. Directly providing eInvoicing to our customers as a result of this partnership will elevate the overall use and satisfaction with our global solution. There is no hotel management company or enterprise hotel that will not benefit from eInvoicing in the near future.”
The complete procure-to-pay business solution created by the partnership between BancTec and BirchStreet was selected by Montage Hotels & Resorts as a way for the luxury hotel and resort management company to centralize all accounts payable operations with a streamlined system where vendors directly submit invoices to BancTec for capture and integration with the BirchStreet system.
“BirchStreet technology is recognized in the hospitality industry for helping companies gain efficiency, visibility and financial control through business process improvements and by narrowing compliance gaps,” said Maria Allen, executive vice president and president of Americas at BancTec. “By leveraging BancTec’s invoice processing service, BirchStreet clients will be able to automate and optimize the full accounts payable process.”
BancTec is a global leader in business process outsourcing (BPO), providing financial transaction automation and document management services for organizations seeking to drive efficiency in their financial and back-office processes. Headquartered in Dallas with clients in 50 countries, BancTec leverages its proprietary IP and deep expertise to provide flexible, focused solutions across the financial services, insurance, health care, utility, transportation and government sectors. The company operates 35 BPO centers worldwide, utilizing a common technology platform to deliver reliability, security, and consistently high levels of performance. To learn more, visit www.BancTec.com or call 1-800-BANCTEC.
About BirchStreet Systems, Inc.
BirchStreet Systems, Inc. provides global enterprises with SaaS based operating and reporting tools to close the gap between the current and the desired compliance to standard operating procedures within the procure-to-pay process. BirchStreet software improves business processes by integrating eProcurement, AP Automation, Inventory Control, Spend Analytics, Recipe Management System and Capital Budget Management modules to support the hospitality and gaming industries. Thousands of businesses in 78 countries currently subscribe to BirchStreet to connect with a network of 200,000 suppliers. Established in 2002, BirchStreet is privately held and is headquartered in Newport Beach, California with offices in China and India. For more information, call 949-567-7000 or visit www.birchstreet.net.
Leah McEachern, (949) 567-7081; firstname.lastname@example.org