St. Paul, MN ―March 22, 2011 - API Outsourcing, Inc. (API www.apifao.com) a leading provider of Finance and Accounting Outsourcing services (FAO), has been selected by Avendra, North America’s leading supply chain and procurement service provider for the hospitality segment, for outsourcing and automating their invoice processing requirements. Avendra maintains approximately 900 supplier contracts and its clients include many of the largest hospitality management companies with nearly 5,000 customer locations.
“After reviewing various options, we selected API not only for our own processing, but as the designated provider of outsourced accounts payable services for our clients. We wanted to be 100% paperless for our own corporate accounts payable processing, using only electronic invoices, and API made this happen efficiently and quickly,” stated Robert Heaton, CFO of Avendra. “Our next phase will be full workflow automation, with GL coding, routing for approval and integration with our accounting system.”
“API is eager to support Avendra’s desire for a streamlined process, reduced processing costs, and faster cycle times, both for their needs and for their customers,” shared API’s President and CEO, Gary Halleen. “As an industry leader in AP automation and outsourcing, API appreciates being selected as Avendra’s provider and supply partner of choice.”
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. 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 published in December 2010. 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/vendor relationships provides the ultimate value proposition. 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. For more information, please call, (651) 675-2600 or visit www.apifao.com.
Avendra is North America’s leading procurement services company serving hospitality-related industries. Avendra customers gain access to contracts leveraging $3 billion of annual purchases, expert advisory services and in-depth purchasing data and analysis. Through Avendra, customers obtain substantial savings on their purchases and other value added services to improve their operations and bottom line results. Formed in 2001, the company is headquartered in Rockville, MD and has regional offices throughout the United States and Canada. For more information, please call toll free, (866) AVENDRA, visit www.avendra.com, or email inquiries to firstname.lastname@example.org.
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