Brainware and IAPP/IARP/TAWPI Release Results from Global Study on Trends in Automated Data Capture

Report Summarizes Real-World Value in Automating Business Processes

November 16, 2010, Ashburn, VA and Orlando, FL —Brainware, Inc. and IAPP/IARP/TAWPI announce the release of the results from their groundbreaking study titled “Global Trends in Automated Data Capture in AP.” This definitive report demonstrates the extent to which automation, particularly advanced data capture, addresses universally-recognized priorities in accounts payable. Sponsored by Brainware and conducted by International Accounts Payable Professionals (IAPP), International Accounts Receivable Professionals (IARP) and The Association for Work Process Improvement (TAWPI), this report analyzes and breaks down the responses submitted by accounts payable professionals across six continents.

Among the report’s findings:

• Respondents who use automated data capture technology in their AP departments report significantly lower costs to process their invoices than those who don’t.


• More than half of respondents from companies headquartered in Europe indicated that it takes their organization more than 15 days to pay an invoice.


• More than 80% of respondents report that automation technology has resulted in faster invoice processing cycle times.


• Nearly two-thirds of respondents reported that their number of errors has fallen since they deployed automated data capture.
  
• Respondents are facing more stringent reporting, compliance, and audit requirements regardless of where their company is based.

"At a time when AP professionals are under tremendous pressure to improve operations efficiency and effectiveness, our study proves that automated data capture can help reduce invoice processing costs, while eliminating errors and speeding turnaround," commented IAPP-IARP-TAWPI Vice President of Research and Business Development Mark Brousseau. "It's for these reasons that we expect automated data capture to experience tremendous growth as the economy improves."

“This report clearly demonstrates that automated data capture enables best-in-class efficiency in AP,” said Charles Kaplan, Vice President of Marketing at Brainware. “It’s clear that leading companies are adapting their organizations to the current economic climate by adopting technology that gives them the visibility, flexibility, and the underlying cost structure to compete in the global economy. This report and analysis confirms a number of trends that we’ve been seeing for the past 18-24 months, and also includes some surprising new insights.”

Read “Global Trends in Automated Data Capture in AP” in its entirety.

About Brainware, Inc.

Brainware, Inc. is an innovative provider of intelligent data capture and enterprise search solutions that help Global 2000 companies eliminate costly manual data entry, rapidly process large volumes of documents and retrieve data from across the enterprise. Its solutions were built from the ground up to manage unstructured data without templates, exact definitions, taxonomies or indexing. Headquartered in Ashburn, Virginia, Brainware maintains global sales and support operations through its North American, U.K. and European offices. Brainware customers include Airbus, Alcon, Alltel (now Verizon Wireless), Amgen, Anadarko, BB&T, British American Tobacco, Continental Airlines, CORT, Gardner Denver, Halliburton, Her Majesty’s Prison Service, Johns Manville, Kimberly-Clark, KPMG, NHS/Steria, Newell Rubbermaid, Phillip Morris International Service Center Europe, Reynolds & Reynolds, Rockwell Automation, Shell, Southern Company, Sun Chemical, The Bank of New York Mellon/SourceNet, TriZetto, and many others. For more information, please visit http://www.brainware.com/.

About IAPP, IARP and TAWPI

International Accounts Payable Professionals (IAPP) is internationally recognized as the trustworthy guidance-setting association for the accounts payable profession. Serving members throughout the world, IAPP is the AP professional’s global voice, chief advocate, recognized authority, acknowledged leader, and principal educator on all AP operational, regulatory, leadership, tax, control, and fraud-related topics. Together, the IAPP and its sister organizations, International Accounts Receivable Professionals (IARP) and The Association for Work Process Improvement (TAWPI), have nearly 6,000 members in 70 chapters throughout the United States, Canada, and the United Kingdom, and provide training, conferences, knowledge sharing, certification, online resources, AP Matters, AR Matters and today magazines, and more. For additional information, visit http://www.theiapp.org/, http://www.theiarp.org/ and http://www.tawpi.org/.