Brainware, a provider of intelligent data capture and enterprise search solutions, announced that Old Dominion Freight Line successfully has deployed Brainware Distiller for Remittances as an effective automation platform in accounts receivable and remittance processing. Brainware says that 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.
As Brainware Distiller is able to capture remittance and payment information at the point of receipt, 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,” says Ken Erdner, ODFL vice president of information technology. “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 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.”
“Brainware Distiller provides a level of processing efficiency that is simply unattainable through manual routines alone,” says Carl Mergele, chief executive officer at Brainware. “By enabling customers like Old Dominion Freight Line to achieve 80 percent 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.”