Data and Database Management Software
BancTec Partner-Extend Accounting and Business Solutions-Goes Live with Accounts Payable Automation Solution for Property Resources Corporation
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System Leverages the BancTec AP Master(TM) Solution
12.10.2007 - DALLAS, TEXAS
BancTec, a global provider of advanced, high volume document and payment processing solutions, announced that its alliance partner, eXtend Accounting and Business Solutions, has gone live with an accounts payable (AP) automation implementation for Property Resources Corporation (PRC). PRC, a large property management firm based in White Plains, New York, receives AP functionality through the eXtend AP hosted service, which is built around BancTec's AP Master solution.
"We are excited that eXtend has successfully launched the first accounts payable automation solution under this partnership," said Jerry Brown, vice president, Worldwide Alliances, BancTec. "This project should serve as a springboard to many other successful engagements in which eXtend uses our solutions as the technical backbone for services it delivers to its clients."
eXtend, a full-service accounting outsourcing provider, has provided back office accounting functions for PRC for more than five years. After an assessment of PRC's accounts payable operation, eXtend determined that the automation capabilities provided by its eXtend AP service could enhance PRC's accounting functionality, primarily by making its business processes more seamless and freeing up PRC management to focus on more value-added business objectives.
Achieving PRC's objectives was made possible through eXtend's agreement to leverage BancTec's AP Master solution. By automating the entire AP process, BancTec's AP Master solution enables PRC to improve accuracy rates, speed up invoice authorization and reduce process cycle times, thus eliminating many of the costs associated with manual invoice handling. Other capabilities built into BancTec's AP Master solution, such as electronic routing, notifications and escalations, also streamline PRC's approval process and help increase overall efficiency of its AP operations.
"eXtend is pleased to be the first BancTec partner in the U.S. to go live with this joint offering," said Keri Bittner, managing director, eXtend Accounting and Business Solutions. "We look forward to leveraging our partnership to serve other industries with a truly best-practice accounts payable automation solution."
About BancTec
BancTec helps clients around the world simplify the process of managing their information. Founded in 1972, the company provides a wide range of solutions for automating complex, high-volume and data-intensive business processes for clients in the financial services, healthcare, manufacturing, government, services and utilities industries. BancTec's offerings include business solutions, business process outsourcing, and infrastructure services. With headquarters in Dallas, BancTec is privately owned and serves clients in 50 countries. For more information on how BancTec can help you optimize information management, visit www.banctec.com or call 1-800-BANCTEC.
About eXtend Accounting and Business Solutions
eXtend Accounting and Business Solutions is a division of DynAccSys. Established in 1982, DynAccSys makes enterprise-class technology and accounting solutions accessible and affordable for businesses and the Federal government.
