ASHBURN, Va., March 16, 2011 /PRNewswire/ -- Brainware, Inc., the leading provider of intelligent data capture and enterprise search solutions, announced today that Old Dominion Freight Line (Nasdaq: ODFL) has successfully deployed Brainware Distiller™ for Remittances as an effective automation platform in accounts receivable, transforming their operation and delivering world-class performance in remittance processing. In addition to considerable efficiency gains in AR, the department has gained exceptional control of their working capital and can access immediate visibility into cash flow, helping ODFL to better manage their cash position, improving customer service in the process.
Accuracy and accountability are critical in the trucking industry because a customer's shipment might be flagged and delayed due to late payments; as Brainware Distiller is able to capture remittance and payment information at the point of receipt, such delinquent accounts can be cleared at the earliest possible moment, releasing their shipment.
"Eighty percent of our remittances are handled before they've even walked in the door," said Ken Erdner, Vice President of Information Technology at Old Dominion Freight Line. "As a result of all the automation that we've deployed, we're using the same number of staff members in Accounts Receivable today as a $1.5 billion company (approximate 2010 revenues), as we did as a $200 million company, so it really has performed well. Our continuous improvement in this area is obviously driven by several initiatives, but Brainware is a key element of keeping our AR staff at an effective and efficient level."
"When you're handling four or five times the volume that you did previously with a good process, it really makes a big difference to the company because it's allowing us to grow without having to add to our monthly overhead," added Erdner.
"Automating the paper-intensive business processes in the Accounting department should be a high priority for large organizations," said Melissa Webster, Vice President at IDC. "Advanced capture and extraction technologies offer customers a tremendous opportunity to streamline the order-to-cash process and optimize their cash management."
"Brainware Distiller provides a level of processing efficiency that is simply unattainable through manual routines alone," said Carl Mergele, Chief Executive Officer at Brainware. "By enabling customers like Old Dominion Freight Line to achieve 80% touchless processing, a team previously clearing a respectable 400 remittances per hour now regularly achieves 2,000 in an hour, allowing staff to focus their efforts on reconciling those requiring special attention, as well as contributing to other value-added tasks within the organization."
Headquartered in Thomasville, North Carolina, Old Dominion Freight Line is a leading less-than-truckload super regional carrier. Through its non-union workforce and four operating Groups (OD-Domestic, OD-Expedited, OD-Globaland and OD-Technology), Old Dominion offers an array of products and services, providing complete 50-state coverage and international service around the globe.
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, Cleveland Clinic, 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 www.brainware.com.
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SOURCE Brainware, Inc.