Accelerated Payments Inc. Accelerate Growth; Acquires LaserNet, Inc. Output Operations

Apr 10, 2001, 01:00 ET from Accelerated Payments Inc.

    BLOOMINGTON, Minn., April 10 /PRNewswire/ --
     Accelerated Payments Inc. (API), ( http://www.api360.net ), has acquired
 LaserNet Inc.'s printing and mailing operations in Madison, Wis., multiplying
 its printing and digital output capacity.  The new facility will print and
 mail paper bills or send them directly by e-mail without printing.  Terms of
 the sale were not announced.
     With this acquisition, API becomes one of the fastest growing companies in
 the Midwest.  The expansion in output capacity matches growth at API's Two
 Harbors, Minn. document capture and service site which tripled its staff size
 to 32 last year and continues to expand.  Unlike many recent technology
 startups, API has been profitable from its inception.
     The invention of President Gary Halleen, API provides business process
 outsourcing to companies that choose not to get mired in their own
 paper-intensive back office operations.  "If it is something that
 traditionally appeared on paper -- bills, statements, receipts,
 correspondence, accounting -- we can digitally automate it," Halleen states.
 While some companies buy hardware, software and services to develop this
 capacity internally, Halleen sees a growing number that choose to use an
 outside firm such as API.
     The Two Harbors facility has largely been concerned with the capture of
 data and scanning of paper, but the new Madison division specializes in
 printing and the e-mailing of statements and invoices.  In a typical scenario,
 API's customer will send its billing data to Madison where bills are printed
 and mailed or e-mailed.  Then the data will be forwarded to the Two Harbors
 facility for electronic storage.  Both the customer and API staff call
 centers.  Recipients of the bills will be able to ask questions of operators
 who can look at electronic images of the recipient's paper document.  When a
 bill is paid, API software matches the remittance to the billing information
 and the account is updated.  API also provides lockbox processing of payments,
 or it works with the customers' lockbox.
     In a prime example of API's prowess, two major airlines' air cargo
 divisions send all of their air waybills to API for scanning, storage, and
 customer service-related retrieval.
      "By outsourcing, our clients avoid the big capital outlay," Halleen
 explains, "and we get them online in days or weeks instead of months or
 years."  Businesses purchase API's software applications on a
 pay-by-transaction basis.  The applications are hosted at API facilities, and
 API regularly updates the software and provides users with technical support.
 API's customers avoid the competitive hunt for qualified technical staff
 because API delivers programming, integration, and training as well as
 support.
     A few of their current customers include Northwest Airlines, Time-Warner
 Cable, Delta Airlines, Rayovac, Kohler, and Wells Fargo Banks.  They depend on
 API for services such as:
     -- Electronic billing and payment
     -- Storage and retrieval of document images and computer reports
     -- Printing and mailing of bills and statements
     -- E-mailing of bills and statements
     -- Accounting procedures such as accounts receivables and accounts
        payable
     -- A 7x24  call center
     -- Greater security for documents and data than most companies can provide
        themselves
 
     Halleen takes particular pride in the security of API's operation.  "All
 of our data is stored in a controlled environment.  And all data in Two
 Harbors is duplicated in the Twin Cities for disaster backup."
     He also points to API's record of reliability.  "We guarantee 99.7 percent
 uptime, but in our first two years, we have had 100 percent up time."  The
 extensive security and backup precautions have thus far gone unused.
     API is what is known in the technology industry as a business process
 outsourcing company using an Application Service Provider (ASP) model.  That
 concept is currently under discussion in virtually every technology trade
 journal.  It is made possible by the ever-expanding capacity of the
 communications industry.  It is now both feasible and cost-effective to send
 large amounts of data over telephone lines in the normal course of business.
     With the new communication capabilities, for example, an accountant need
 not know or care if the information he or she requests is stored in the next
 room or across the country.  Logistics becomes a business decision, and
 nearest is not necessarily best.  Workers and consumers have access to a world
 of information.
     "API is a leader in effectively using the ASP business model," opines
 Gordon E.J. Hoke, an analyst with IMERGE Consulting
 ( http://www.imergeconsult.com ),  "and, in terms of growth, profitability,
 and long-term prospects, API may be the most successful ASP in the country."
 
 

SOURCE Accelerated Payments Inc.
    BLOOMINGTON, Minn., April 10 /PRNewswire/ --
     Accelerated Payments Inc. (API), ( http://www.api360.net ), has acquired
 LaserNet Inc.'s printing and mailing operations in Madison, Wis., multiplying
 its printing and digital output capacity.  The new facility will print and
 mail paper bills or send them directly by e-mail without printing.  Terms of
 the sale were not announced.
     With this acquisition, API becomes one of the fastest growing companies in
 the Midwest.  The expansion in output capacity matches growth at API's Two
 Harbors, Minn. document capture and service site which tripled its staff size
 to 32 last year and continues to expand.  Unlike many recent technology
 startups, API has been profitable from its inception.
     The invention of President Gary Halleen, API provides business process
 outsourcing to companies that choose not to get mired in their own
 paper-intensive back office operations.  "If it is something that
 traditionally appeared on paper -- bills, statements, receipts,
 correspondence, accounting -- we can digitally automate it," Halleen states.
 While some companies buy hardware, software and services to develop this
 capacity internally, Halleen sees a growing number that choose to use an
 outside firm such as API.
     The Two Harbors facility has largely been concerned with the capture of
 data and scanning of paper, but the new Madison division specializes in
 printing and the e-mailing of statements and invoices.  In a typical scenario,
 API's customer will send its billing data to Madison where bills are printed
 and mailed or e-mailed.  Then the data will be forwarded to the Two Harbors
 facility for electronic storage.  Both the customer and API staff call
 centers.  Recipients of the bills will be able to ask questions of operators
 who can look at electronic images of the recipient's paper document.  When a
 bill is paid, API software matches the remittance to the billing information
 and the account is updated.  API also provides lockbox processing of payments,
 or it works with the customers' lockbox.
     In a prime example of API's prowess, two major airlines' air cargo
 divisions send all of their air waybills to API for scanning, storage, and
 customer service-related retrieval.
      "By outsourcing, our clients avoid the big capital outlay," Halleen
 explains, "and we get them online in days or weeks instead of months or
 years."  Businesses purchase API's software applications on a
 pay-by-transaction basis.  The applications are hosted at API facilities, and
 API regularly updates the software and provides users with technical support.
 API's customers avoid the competitive hunt for qualified technical staff
 because API delivers programming, integration, and training as well as
 support.
     A few of their current customers include Northwest Airlines, Time-Warner
 Cable, Delta Airlines, Rayovac, Kohler, and Wells Fargo Banks.  They depend on
 API for services such as:
     -- Electronic billing and payment
     -- Storage and retrieval of document images and computer reports
     -- Printing and mailing of bills and statements
     -- E-mailing of bills and statements
     -- Accounting procedures such as accounts receivables and accounts
        payable
     -- A 7x24  call center
     -- Greater security for documents and data than most companies can provide
        themselves
 
     Halleen takes particular pride in the security of API's operation.  "All
 of our data is stored in a controlled environment.  And all data in Two
 Harbors is duplicated in the Twin Cities for disaster backup."
     He also points to API's record of reliability.  "We guarantee 99.7 percent
 uptime, but in our first two years, we have had 100 percent up time."  The
 extensive security and backup precautions have thus far gone unused.
     API is what is known in the technology industry as a business process
 outsourcing company using an Application Service Provider (ASP) model.  That
 concept is currently under discussion in virtually every technology trade
 journal.  It is made possible by the ever-expanding capacity of the
 communications industry.  It is now both feasible and cost-effective to send
 large amounts of data over telephone lines in the normal course of business.
     With the new communication capabilities, for example, an accountant need
 not know or care if the information he or she requests is stored in the next
 room or across the country.  Logistics becomes a business decision, and
 nearest is not necessarily best.  Workers and consumers have access to a world
 of information.
     "API is a leader in effectively using the ASP business model," opines
 Gordon E.J. Hoke, an analyst with IMERGE Consulting
 ( http://www.imergeconsult.com ),  "and, in terms of growth, profitability,
 and long-term prospects, API may be the most successful ASP in the country."
 
 SOURCE  Accelerated Payments Inc.