BirchStreet Systems (eProcurement and Procure-to-Pay in the hospitality industry) agreed with BancTec to resell BancTec’s invoice processing capabilities — including receipt, open, prep, scan and data capture, to their extensive existing customer base along with new customers throughout the world.
The cooperation with BancTec allows BirchStreet to offer a fully integrated and automated end-to-end business process, which starts with suppliers, continues with ordering and receiving, and ends with payment.
And the BancTec’s invoice processing service gives BirchStreet’s customers greater invoice visibility and predictable disbursement schedules, reducing cycle times and optimizing working capital. The BancTec service also increases accuracy by eliminating manual data entry and increasing control and visibility.
The complete procure-to-pay business solution created by the partnership between BancTec and BirchStreet has already been selected by Montage Hotels & Resorts as a way for the luxury hotel and resort management company to centralize all accounts payable operations with a streamlined system where vendors directly submit invoices to BancTec for capture and integration with the BirchStreet system.
Maria Allen, executive vice president and president of Americas at BancTec:
“BirchStreet technology is recognized in the hospitality industry for helping companies gain efficiency, visibility and financial control through business process improvements and by narrowing compliance gaps. By leveraging BancTec’s invoice processing service, BirchStreet clients will be able to automate and optimize the full accounts payable process.”
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