St. Paul, Minn.―June 24, 2010 - API Outsourcing, Inc. (API- www.apifao.com) a leading provider of Finance and Accounting Outsourcing services (FAO), has been selected by DavCo Restaurants, one of the world's largest Wendy's franchisee, to provide AP Workflow Services. These innovative web based services fully automate and streamline the accounts payable process, including invoice capture, duplicate checking, processing, electronic routing for approval, accrual reporting, payment services and electronic image archive. DavCo expects the outsourced accounts payable services to result in lower overall costs with improved speed, reduced errors, enhanced control, improved cash flow management and greater invoice visibility.
"DavCo's intentions are to continuously upgrade the efficiency of its operations by finding outsourced, hosted solutions that provide greater functionality at lower costs. API allows us to get out of the paper pushing business and focus on our core competency, restaurant operations. After an extensive due diligence process including testing system functionality, an ROI analysis, and a site visit, DavCo concluded that API was the firm best suited to partner with us in this new endeavor" stated John Rusnak, Senior Director at DavCo.
"API is proud to be selected by DavCo, a true industry innovator," said Gary Halleen, President and CEO of API Outsourcing. "We know that the status quo, and not changing longstanding processes, is the easy path. It takes an industry leader like DavCo to have the vision to see how their (150+) restaurants can process payables by using only electronic invoices, automated workflows and creating a paperless process."
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 DavCo Restaurants
Today, DavCo Restaurants is one of the world's largest Wendy's franchisees, with over 150 restaurants in the mid-Atlantic region and with an enviable reputation for progressive and professional management.
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