An accounts payable automation initiative engineered by KeyMark Inc. has received the 2010 the Association for Work Process Improvement, Inc. (TAWPI) Innovation Award for its excellence in business process innovation. KeyMark Inc., an award-winning document management solution provider, implemented the solution for Gulfstream Aerospace Corporation.
The award was presented on Monday, May 10, during FUSION 2010, an annual forum and expo presented by TAWPI and International Accounts Payable Professionals (IAPP). FUSION, which occurred May 9 – 13 at the Gaylord Texan Resort and Convention Center in Dallas, Texas, explores emerging payments and document automation technologies and processes.
The innovation awards, presented by TAWPI and IAPP, showcase word-class innovation in accounts payable and accounts receivable processes. Prior to the implementation of the accounts payable automation project at Gulfstream, incoming invoices were processed at seven different locations throughout the United States. KeyMark developed a solution for Gulfstream to automatically handle front-end document capture and scanning, post data to Gulfstream’s accounting systems, electronically route invoices for approval and validate data and handle exceptions. The solution has resulted in the consolidation of Gulfstream’s accounts payable department, improved accuracy, increased customer satisfaction and productivity gains of more than 20 percent.
“It’s an honor to have one of our solutions selected for this award,” said Ed McQuiston, Vice President, Sales of KeyMark. “One of the most rewarding parts of our business is helping clients increase efficiencies and decrease costs. It’s amazing to watch the results they experience after an implementation is complete. We’re proud of the work we accomplished at Gulfstream in helping them improve their accounts payable business processes.”