Leading Finance Publication Names Brainware's Solutions as Best-of-Breed for A/P and A/R Processing

ASHBURN, Va. — Brainware, Inc., the leading provider of intelligent data capture and enterprise search solutions, announced today that Business Finance magazine has named Brainware to its list of "Best of Breed" solution vendors for Accounts Payable and Accounts Receivable automation for 2009.

Business Finance, which focuses on providing thought leadership, best practices, and insight for transformational finance executives states that "Electronic transactions are still far from the norm, and a growing number of companies are turning to document imaging and data capture technologies to tackle A/R and A/P inefficiencies. Corporate applications of optical character recognition (OCR) have been around for more than 20 years, but today’s imaging systems bear little resemblance to the hit-and-miss OCR products of the ’80s. Invoice imaging systems, for example, can capture the semi-structured information on these highly variable documents, validate it against user-defined business rules, and feed it into an ERP or accounting system."

In its annual feature of cutting-edge technologies, this year titled "Bred Tough: The Best-of-Breed, 2009," the magazine notes that the main challenge in accounts receivable and payable departments is paper and showcases the advanced methods of coping with it. As an example, Business Finance quotes Scott Searls, senior vice president and chief supply executive with Alltel Wireless, whose organization has gained significant efficiencies using Brainware. The publication points out that Brainware’s intelligent data capture solution helped Alltel save more than $16 million in early payment discounts in year one alone.

In the past several months, Brainware has signed more than a dozen new Global 2000 accounts, including deals with Anixter International, CORT Business Services and Continental Airlines.

Read the complete story here: http://www.brainware.com/docs/BusinessFinance-8-3-09.pdf

About Brainware
Brainware, Inc. is an innovative provider of intelligent data capture and enterprise search solutions that help Global 2000 companies eliminate costly manual data entry, rapidly process large volumes of documents and retrieve data from across the enterprise. Its solutions were built from the ground up to manage unstructured data without templates, exact definitions, taxonomies or indexing. Headquartered in Ashburn, Virginia, Brainware maintains global sales and support operations through its North American, U.K. and European offices. Brainware customers include Airbus, Alcon, Alltel, Amgen, Anadarko, Anixter, BB&T, British American Tobacco, Continental Airlines, CORT, Gardner Denver, Halliburton, Her Majesty’s Prison Service, Johns Manville, JohnsonDiversey, Kimberly-Clark, KPMG, NHS/Steria, Newell Rubbermaid, Phillip Morris International, Reynolds & Reynolds, Shell, Southern Company, The Bank of New York Mellon/SourceNet, TriZetto, and many others. For more information, please visit www.brainware.com.