Hosted Call Center Featured Article

API Outsourcing Picked by Avendra to Outsource and Automate Invoice Processing

By Shamila Janakiraman
TMCnet Contributor

Avendra has selected API Outsourcing, Inc. a provider of finance and accounting outsourcing services (FAO) for outsourcing and automating its invoice processing requirements.

Robert Heaton, CFO of Avendra, said in a 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.”

He explained that as Avendra required a 100 percent paperless solution for its corporate accounts payable processing it was using only electronic invoices. He pointed out that 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.”

North America’s major supply chain and procurement service provider for the hospitality segment, Avendra maintains about 900 supplier contracts. It serves clients in the hospitality management companies with nearly 5,000 customer locations, revealed company officials.

API’s president and CEO, Gary Halleen, said, “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. As an industry leader in AP automation and outsourcing, API appreciates being selected as Avendra's provider and supply partner of choice.”

API Outsourcing provides innovative state-of-the-art document management, accounts payable, accounts receivable and accounting services. API serves its clients by transforming manual paper-dependent payables and billing processes by using its imaging, bill delivery and workflow systems.

This helps reduce the labor intensive back-office processing work so that customers can instead focus on their core business, emphasized APIsources.

Fidelity Bank, a financial banking institution that provides financing to privately held businesses, has implemented API’s Accounts Payable (AP) Solution. This service eliminates the back office paper work and allows electronic routing of invoices to be approved to capture early payment discounts, according to TMCnet.