DALLAS, Dec. 16 BancTec, Inc., a global provider of advanced, high-volume document and payment processing solutions and services, has signed an agreement with Concentra Inc., one of the largest providers of health care services in the U.S., in which BancTec will manage the receipt and data capture of Concentra's supplier invoices. The agreement covers invoices in both paper and electronic formats, and will provide Concentra colleagues and vendors with online visibility and improved workflow capabilities.
"BancTec's accounts payable (AP) automation solution will allow our center-based colleagues to continue their focus on providing outstanding patient care by eliminating administrative tasks required to process vendor invoices," said Su Zan Nelson, Concentra's SVP, Finance & Administration. "We also expect to gain process improvements throughout our other support and administrative areas of the Company through this relationship with BancTec."
BancTec's AP Master(TM) software suite, which manages -- from purchase to payment -- each step in the AP process, will form the technical backbone of the BancTec solution. Utilizing the online capabilities of AP Master, Concentra employees will be able to easily access invoice images for routing and approval. In addition, Concentra suppliers will be able to check the status of invoice payments online, creating more efficient communication and workflow management of in-process invoices.
"We welcome Concentra as a new BancTec client, and value the opportunity to support their administrative and patient care objectives," said Paul Diegelman, divisional vice president of finance and accounting BPO, BancTec. "BancTec's comprehensive document management capabilities, combined with Concentra's innovative approach to serving patients, make us ideal business partners."
Through its AP Master suite and RemitCycle 360(TM) revenue cycle management solution, BancTec has made a major commitment to finance and accounting processing in the healthcare industry. Whether installed in-house or hosted by BancTec, the company's solutions enable healthcare providers to reduce costs, increase efficiency and enhance revenue collection.
Concentra is a leading health care company focused on improving America's health, one patient at a time. Through its affiliated clinicians, the company provides occupational medicine, urgent care, physical therapy, and wellness services to workers and the general public from 317 medical centers in 40 states. In addition to these medical center locations, Concentra serves employers by providing a broad range of health advisory services and operating 258 on-site medical facilities. Through this complement of services, Concentra intends to raise the standard of health by putting individuals first, treating them with clinical excellence, and focusing on their ongoing wellness.
BancTec helps clients around the world simplify the process of managing their information. Founded in 1972, the company provides a wide range of solutions for automating complex, high-volume and data-intensive business processes for clients in the financial services, healthcare, manufacturing, government, services and utilities industries. BancTec's offerings include business solutions, business process outsourcing, and infrastructure services. With headquarters in Dallas, BancTec serves clients in 50 countries. For more information on how BancTec can help you optimize information management, visit www.banctec.com or call 1-800-BANCTEC.
All statements in this press release that do not directly and exclusively relate to historical facts are "forward-looking statements" describing BancTec's objectives, targets, plans, strategies, costs, anticipated capital expenditures and expected cost savings. These statements represent BancTec's intentions, plans, expectations and beliefs, and are subject to risks, uncertainties and other factors, many of which are outside the Company's control. These factors could cause actual results to differ materially from such forward-looking statements. For a written description of these factors, see the section titled "Risk Factors" in the Company's Registration Statement on Form S-1, as amended, initially filed with the Securities and Exchange Commission on August 8, 2007. The Company disclaims any intention or obligation to update these forward-looking statements whether as a result of subsequent events or otherwise except as required by law.
SOURCE BancTec, Inc.