St. Paul, Minn.- March 29, 2011 - API Outsourcing, Inc. (www.apifao.com) a leading provider of Finance and Accounting Outsourcing Services (FAO), and Atlanta Spirit LLC, the parent company of the NBA Atlanta Hawks, NHL Atlanta Thrashers, and owners of the operating rights to the world-class entertainment venue Philips Arena has implemented API’s Accounts Payable Solution. Atlanta Spirit chose a modular SaaS solution from API to improve their A/P processing system and reduce operating costs. By utilizing a combination of API technology and skilled U.S. based production staff API is able to provide a systematic process from invoice receipt to payment. Invoices are ready for online approval within 24 hours of receipt and checks are printed and mailed within one day of receiving payment information.
“Cost savings and headcount reduction were the initial goals when we considered API Outsourcing. In addition, we achieved significant increases in workflow efficiency throughout the organization as a result of this implementation.” said Phil Ebinger, Senior Vice President and CFO of Atlanta Spirit LLC. “Our vendors and our employees have reaped benefits from using the API solution.”
“We are excited to be working with the Atlanta Hawks, Atlanta Thrashers, and Philips Arena and to provide them with an image based workflow platform to process their AP invoices. We are certain that the new process will be more streamlined, efficient and effective.” stated Gary Halleen, President and CEO of API Outsourcing.
About API Outsourcing
API Outsourcing, Inc., 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
About Atlanta Spirit, LLC
The Atlanta Hawks, Atlanta Thrashers and Philips Arena operating rights are owned by Atlanta Spirit LLC. Individual tickets for the Atlanta Hawks and Atlanta Thrashers are available for the 2010-11 regular season by calling (866) 715-1500, by visiting www.hawks.com or www.atlantathrashers.com, or by visiting the Philips Arena Box Office or any Ticketmaster Ticket Outlet. Named for founding partner Philips, Philips Arena is consistently ranked among the world’s top 10 arenas based on attendance. In April 2009, Philips Arena became the first NBA or NHL arena in the world to achieve LEED for Existing Building: Operations and Maintenance (LEED-EB: O&M) certification as specified by the United States Green Building Council (USGBC). For more information on upcoming Philips Arena events, log onto www.philipsarena.com.
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