Top 20 Global Financial Institution Selects Brainware Distiller

Will Streamline Processing of EDI and Paper Invoices

June 1, 2011, Ashburn, VA —Brainware, Inc., the leading provider of intelligent data capture and enterprise search solutions, announced today that a prominent, European-based financial institution—and one of the 50 largest corporations in the world, with 2010 revenues exceeding $100 billion—has selected Brainware Distiller™ for efficiency and transparency in accounts payable processing. By integrating readily with the company’s Documentum DMS and PeopleSoft ERP system, Distiller will play an integral role in migrating multiple parts of the organization to a common set of core applications, as well as facilitating compliance with revised banking requirements.

Among other things, Distiller will convert incoming EDI data into electronic images, enabling personnel to access, read and validate this data as needed. The software’s industry-leading capability for line pairing and data validation will translate to exceptional operational productivity, regardless of invoice complexity or medium.

The customer cited Brainware’s Visibility™ module, which enables management to create instant, easily-configured reports and analytics, as a key factor in choosing Brainware. By improving process transparency, this feature creates greater cash management opportunities internally, as well as a simplified mechanism for answering external auditors and regulators.

Furthermore, the customer believes Distiller’s scalability presents a wealth of opportunity for creating substantial productivity gains across the enterprise.

“Distiller’s intelligent data capture technology consolidates numerous document types into a single, digitized data channel, enabling the touchless processing of PO-based invoices and giving financial decision-makers instant access to the business intelligence they require,” said Carl Mergele, Chief Executive Officer at Brainware. “Augmenting legacy imaging and workflow solutions—as opposed to disrupting or replacing them—with a powerful capability for data extraction and validation, our software provides a scalable platform for efficiency across a wide range of document-driven operations, freeing up data entry staff for more mission-critical activities and delivering a considerable boost to the bottom line.”