BirchStreet Systems, has entered into a partnership agreement with BancTec to sell BancTec’s invoice processing service. BirchStreet will be reselling BancTec’s invoice processing capabilities — including receipt, open, prep, scan and data capture, to their extensive existing customer base along with new customers throughout the world.
BirchStreet is the number one cloud platform for eProcurement and Procure-to-Pay in the hospitality industry. BancTec is a global leader in business process outsourcing (BPO), providing financial transaction automation and document management services. Together, both companies’ strengths and core functionality provide increased value to customers.
The addition of BancTec’s invoice processing service augments BirchStreet’s established procure-to-pay (P2P) system offering, a fully integrated and automated end-to-end business process, which starts with suppliers, continues with ordering and receiving, and ends with payment. BancTec’s invoice processing service gives BirchStreet customers greater invoice visibility and predictable disbursement schedules, reducing cycle times and optimizing working capital. The BancTec service also increases accuracy by eliminating manual data entry and increasing control and visibility.
The complete procure-to-pay business solution created by the partnership between BancTec and BirchStreet was selected by Montage Hotels & Resorts as a way for the luxury hotel and resort management company to centralize all accounts payable operations with a streamlined system where vendors directly submit invoices to BancTec for capture and integration with the BirchStreet system.