Invoice Processing: Safety-Kleen Selects BancTec For Accounts Payable Solution
Leading Waste Management Company Outsources Invoice Processing to BancTec to Reduce Cost Per Invoice
BancTec, a leading global provider of document and payment processing solutions, announced today that it has entered a multi-year agreement to provide outsourced accounts payable (AP) services for Safety-Kleen, a North American leader in waste management.
The Business Process Outsourcing (BPO) services performed by BancTec will include the extraction, preparation and scanning of the invoices, as well as the indexing of the images in Safety-Kleen's AP system.
Safety-Kleen executives expect the outsourcing agreement to significantly reduce the company's cost per invoice. "BancTec is committed to helping us create the most effective, cost-efficient AP solution for our specific requirements," said Jeff Robertson, Safety-Kleen senior vice president. "BancTec's BPO service offering allowed Safety-Kleen to benefit from BancTec's leading edge technology on a per transaction basis, allowing us to see a true ROI immediately," said Wayne Flake, Safety-Kleen vice president of IT Applications. "In selecting BancTec for this important role, we were particularly impressed by the fact that BancTec brought forth a true end-to-end solution. BancTec manufactures its own hardware, develops its own software, and performs its own service."
"We are delighted to begin this engagement with Safety-Kleen," said Jeff Brown, vice president of business process outsourcing in the Americas for BancTec. "The cost to process paper invoices is high in terms of manual activity required at every stage, high potential for mistakes, missed discounts and late-payment penalties. BancTec's AP solutions and services enable companies like Safety-Kleen -- which handle large invoice volumes -- to increase cost-efficiency, simplify regulatory compliance, and improve overall financial management."
BancTec offers BPO services for a wide variety of business applications, including document imaging and archive, correspondence, application forms, invoices, mobile capture, and remittance. BancTec's BPO services are delivered through a common technology platform that makes it easy for customers to add additional services. BancTec operates outsourcing service centers in Totowa, N.J.; Chicago, IL; Charlotte, N.C.; Dallas, TX; Berkshire, United Kingdom; Essex, United Kingdom; Middlesex, United Kingdom; Dublin, Ireland; Tallin, Estonia; Utrecht, Netherlands; and Bielefeld, Germany.
About Safety-Kleen
Safety-Kleen, a privately held company, is North America's premier provider of industrial oil collection and re-refining, parts cleaner services, and industrial waste management. Safety-Kleen offers its customers a complete set of responsible re-refining, cleaning, and environmental solutions through its fully integrated branch network designed to collect, process, recycle, re-refine, and dispose of a wide range of both hazardous and non-hazardous waste streams. The company has approximately 4,500 employees serving hundreds of thousands of customers in the United States, Canada and Puerto Rico.
About BancTec
BancTec helps companies around the world simplify the process of managing their information through a versatile portfolio of automation and outsourcing solutions. The company provides document and content processing, payment processing and IT service management solutions for clients in the financial services, manufacturing, government, services and utilities industries. With headquarters in Dallas and London, BancTec is privately owned with annual revenues of $345 million and serves more than 50 countries. For more information on how BancTec can help you optimize information management, visit www.banctec.com or call 1-800-BANCTEC.