Open Scan Now Offers Payables Automation

Denver, CO, May 16, 2012 --(PR.com)-- Open Scan Technologies, Inc. pioneered Accounts Receivables Process Management software more than ten years ago. With the same spirit of “best of breed” financial process automation, Open Scan now offers a Payables Process Management solution.

Companies of all sizes and in all industries can benefit from Open Scan’s payables solution by eliminating manual sorting and data entry, utilizing a faster review and approval workflow, and automating PO Invoice approval. The result is improved vendor relations, better compliance, and overall cost reduction.

Research by The Hackett Group has found that top-performing companies process a higher percentage of vendor invoices with automation technology than their peers. The Gartner Group estimates that U.S. companies are spending between $10 billion and $15 billion each year processing A/P transactions. On average, the A/P cost-per-transaction before automation is $9.87. With end-to-end automation, this cost is reduced to $4.56.

About Open Scan
For more than a decade, Open Scan Technologies Inc. has revolutionized enterprise financial workflows with industry-defining product innovations in payment capture, remittance processing, cash application, payables, and deduction management. Corporations, financial institutions, and government agencies realize unrivaled performance and efficiency as well as measurable savings and increased accuracy of data.

Contact Information
Open Scan Technologies, Inc.
Ryan Stoops
Marketing Manager
303.867.7410
rstoops@openscan.com