Multi-year agreement will help remove all paper based processing
St. Paul, Minn.―January 19, 2011 - API Outsourcing, Inc. (API www.apifao.com) a leading provider of Finance and Accounting Outsourcing (FAO) services, and Hancock Holding Company, a Gulf South banking and financial services leader, have entered into a multi-year agreement with API to provide services in support of Hancock’s new automated, image based, accounts payable solution. API’s services include front-end processing and data capture and back-end archiving and image retrieval that are integrated with Hancock’s accounts payable solution. These services from API will enable Hancock to provide its internal customers with a seamless and fully automated accounts payable solution and promote the further adoption of accounts payables best practices. In addition, this solution will streamline Hancock’s accounts payable processes and reduce costs.
“Hancock is seeing a major improvement in our AP processes since implementing the new automated solution. We selected API to be our service provider because of their flexibility and proven ability to integrate their systems with other third party systems,” stated Dori Triplett, Controller at Hancock. “API’s support services have also enabled our internal staff to focus on higher value activities and handle with the current staff the increased volumes being driven our business growth.”
“API understands the importance of automating and the elimination of paper in the AP process to create less costly and more efficient processes,” explained Gary Halleen, President and CEO of API Outsourcing. “By outsourcing with API, Hancock will be able to utilize best-in-class practices for invoice processing to create a leaner cost structure while maintaining service delivery excellence.
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 Hancock Holding Company
Hancock Holding Company, parent company of Hancock Bank , had assets of approximately $8.2 billion as of December 31, 2010, and operates more than 180 banking and financial services offices and more than 160 ATMs in Mississippi, Louisiana, Alabama, and Florida. Founded in 1899, Hancock Bank consistently ranks as one of the country’s strongest, safest financial institutions, according to BauerFinancial, Inc. More corporate information and e-banking are available at www.hancockbank.com.
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