Document management solution to reduce operating costs and improve financial controls.
St. Paul, MN – June 17, 2008 – API Outsourcing Inc. (API) (
), a leading finance and accounting outsourcing (FAO) provider of state-of-the-art document management, accounts-payable processing solutions and billing, today announced that Minnesota-based Katun Corporation has signed a multiyear service agreement to utilize API’s document management solution. Katun Corporation, the world’s leading alternative supplier to the office equipment industry, will utilize API’s document indexing and archiving capabilities.
"We chose API because of their industry experience and reputation for keeping customers satisfied," said Jan Bolin, VP corporate controller, Katun Corporation. "By utilizing API's services, we will significantly reduce our operating costs and improve financial controls. In addition, the service will help us reduce errors, eliminate duplicate payments, meet applicable requirements of the Sarbanes-Oxley Act and improve management of the day's payable outstanding (DPO), all while providing an electronic audit trail."
API will deliver a front-end workflow solution for Katun’s automated accounts payable processes. All invoices from Katun’s vendors will be sent directly to an onshore API service delivery center, where the processes of collecting invoices, document prepping, scanning, indexing, and archiving the documents for approval and payment will be performed by API staff.
About API Outsourcing, Inc.
API Outsourcing Inc. is a leading onshore outsourcing provider of state-of-the-art document management, accounts payable processing solutions, and billing. By transforming manual, paper-dependent billing and payable processes through our proprietary imaging, printing and workflow systems, clients are able to minimize the labor-intensive work associated with back- office processing. Clients have more time to focus on their core business. Benefits include reduced processing costs of 30 to 60 percent, increased business intelligence and improved vendor relationships. API is a finance and accounting outsourcing (FAO) company headquartered in St. Paul, Minn. API Outsourcing currently processes millions of transactions annually and uses Six Sigma Techniques for high-quality, consistent service.
Headquartered in Minneapolis, Katun Corporation is the world’s leading supplier of OEM-compatible imaging supplies, photoreceptors, fuser rollers, parts, and other select products and services for the office equipment industry. With nearly three decades of expertise, Katun serves more than 18,000 customers in more than 150 countries.