API Outsourcing, Inc. a service provider of Finance and Accounting Outsourcing (FAO) was chosen by Avendra for automating invoice processing. Avendra is a leader in the supply chain provider in the hospitality division. Headquartered in Rockville, Maryland, the company has almost 5,000 customer locations with some of the biggest hospitality management firms and 900 supplier contracts.
Robert Heaton, CFO of Avendra said in a press release, “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.”
Heaton added, “Our next phase will be full workflow automation, with GL coding, routing for approval and integration with our accounting system.”
Meanwhile, Gary Halleen, CEO and President of API was quoted as saying, “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,” adding, “As an industry leader in AP automation and outsourcing, API appreciates being selected as Avendra’s provider and supply partner of choice,” PRWeb reports.
St.Paul, MN-based API is the number one global accounts payable service provider named in the State of the Global Finance Accounting Outsourcing released by the Black Book of Outsourcing in December of last year. API allows clients to concentrate on its core business areas by modifying paper-based payables and billing related work to image-based bill delivery and workflow systems that cut down back office processing labor.
API’s value lies in its outsourcing benefits such as better cash flow, decreased processing costs, better business intelligence and better customer-vendor relationships. At the present time, API manages more than 100,000,000 transactions on a yearly bases. It is also known for its quality service, and adherence to Six Sigma practices
Written by Jacob Cherian · Filed Under F&A Blogs | Leave a Comment
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