Accounts Payable Workflow System to Assist the Back Office
St. Paul, Minn.―October 14, 2010 - The California Independent System Operator Corporation, (“the ISO”), chose API Outsourcing, Inc. (www.apifao.com) to develop a paperless workflow solution for the company’s accounts payable function.
The California ISO manages about 80 percent of the high-voltage electricity transmission grid for the state of California. “API has helped to transform the company’s paper based payables processing into a paperless workflow using a proprietary imaging and workflow solution. This workflow solution provides greater efficiency and minimizes the labor-intensive work typically associated with back-office payables processing,” said Denise Walsh, Corporate Controller.
“We are excited to be working in partnership with the ISO and are pleased the ISO chose API’s Solution Manager for Payables. The ISO has very high standards and API is able to meet those standards using state-of-art technology and SAS 70 approved controls,” explained Gary Halleen, President and CEO of API Outsourcing.
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, accounts receivable 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.
About California Independent System Operator Corporation
The California Independent System Operator Corporation(ISO) is a nonprofit publicbenefit corporation charged with operating the majority of California’s high-voltage wholesale power grid. Balancing the demand for electricity with an equal supply of megawatts, the ISO is the impartial link between power plants and the utilities that serve more than 30 million consumers. The ISO provides equal access to the grid for all qualified users and strategically plans for the transmission needs of this vital infrastructure.
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