SunGard Selects Open Scan to Join AvantGard EcoSystem for Remittance Data
SunGard has selected Open Scan Technologies to join the AvantGard EcoSystem Community, helping SunGard to expand its AvantGard receivables solution suite to offer remittance data capture. Open Scan will help AvantGard customers reduce lockbox processing fees and lower days sales outstanding (DSO), as well as improve the speed, accuracy and cost of existing remittance processing.
By bringing Open Scan into the AvantGard EcoSystem, customers will have access to the full scope of Open Scan’s functionality, feeding the data directly to the AvantGard receivables solution for holistic credit and collections management. For example, YRC Worldwide, one of the largest transportation service providers in the world, uses Open Scan and AvantGard. The solutions have helped YRC Worldwide save money in lockbox fees, while also creating efficiencies and providing increased transparency into its accounts receivables (A/R) operation.
Kelly Kendall, senior director, revenue management at YRC Worldwide, said: “Since deploying Open Scan software to process lockbox feeds, our overall handling costs have dropped, payments are applied faster and the frequency of processing errors has been reduced. Using Open Scan, receivable items are cleared in a more timely and accurate manner from our AvantGard receivables collections programme, helping us focus on truly unpaid receivable items.”