Press Release
Corcentric Teams with Transervice To Provide AP Voucher Solution
September 14, 2006, McLean, VA —
Corcentric, which specializes in purchasing, accounts payable, and accounts
receivable efficiency for the commercial trucking industry, announced today
that it has further enhanced its accounts payable solution for Transervice
Logistics Inc., a nationwide provider of contract carriage, dedicated contract
maintenance, and full service leasing for the transportation industry. The
Corcentric AP Voucher solution allows Transervice to process invoices
electronically from suppliers that do not have the technical capabilities to
send invoice data in an electronic format such as EDI, XML, or Flat File.
Transervice began using the Corcentric system two years ago to assist in
implementing an electronic invoice system that would accommodate vendors who
had those capabilities. This program provided a standard paperless procedure to
electronically process, approve, and post invoices to their accounts payable
general ledger account across its more than one hundred field locations.
Previously, Transervice was operating a paper-based process that involved
labor-intensive manual entry and inefficient usage of personnel resources.
The challenge remained in addressing vendors who did not have the capabilities
to transmit invoices electronically. In facing that challenge, Transervice
teamed with Corcentric in the development of the solution that enabled all
Transervice locations to process and approve all vendor invoices
electronically. “Transervice presented a unique situation and required a
customized system to streamline their accounting processes. Corcentric
was able to work with them to determine their major problems and needs,
ultimately providing a solution improving efficiency and consistency across the
country,” says Clint Johnston, Director of Technology Services for Corcentric.
The online system can be accessed from any location to process invoices, in
addition to allowing the corporate office to view invoices of individual
locations in real time along with purchasing histories. Transervice now
conducts its entire invoice approval workflow customized to their business
rules and roles in a paperless environment.
Pete Hubbard, Transervice Vice President of Fleet Operations and Maintenance
states, “The implementation of electronically receiving, processing, and
approving our vendors’ invoices has brought great benefits and cost savings to
Transervice. This has been experienced in the reduction of our invoice entry
and coding errors, as well as the savings in invoice copying, mailing, and
personnel handling. The program has also enabled us to increase our business
without incurring additional administrative overhead. Partnering with
Corcentric in this accomplishment has been very beneficial for both parties.”
About Corcentric
Founded in 1998, Corcentric delivers e-Commerce solutions that enable companies
to gain significant cost efficiencies by digitizing their business-to-business
transactions.
Using the Optimal eFlow system, Corcentric digitizes the Purchasing, Accounts
Payable, and Accounts Receivable activities of the entire trading community
without changing existing IT systems, business processes, or trading partners.
By employing automated, real-time identification, analysis, and execution of
transactions, Corcentric immediately reduces the costs associated with
traditional Purchasing, Accounts Payable, and Accounts Receivable practices.
Corcentric can help companies of all sizes advance towards the next generation
of paperless integration.
If you are interested in the Corcentric solution or would like more information
about the company, contact Dave Lindeen, Vice President, and Sales at (877)
790-7272, e-mail dlindeen@corcentric.com or visit the Website at www.corcentric.com.
About Transervice
Across the United States, Transervice serves major fleet accounts in the highly
specialized areas of Dedicated Carriage, Full Service Leasing, and Contract
Maintenance. These services are provided utilizing its current fleet of 15,000
vehicles. Tailored programs to meet specific needs of each customer play an
important role in the growth of customer sales and profits. Maximized equipment
usage, routing consolidations and maximizations, extended equipment service
life, dedicated staffing, and financing strategies help each customer achieve
business objectives.
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