THOMASVILLE, N.C. (March 22, 2011) – Old Dominion Freight Line Inc. is increasing processing productivity in its accounts receivable department upwards of 500 percent with the deployment of new technology.
By using Brainware Distiller for Remittances, an automated platform that captures shippers' payments and associated information at the point of receipt, Old Dominion can accelerate the remittance process by eliminating time-consuming manual data entry.
Streamlining the order-to-cash process is helping Old Dominion efficiently handle a larger volume of shipments. The national less-than-truckload carrier saw a 19.9 percent increase in shipments and 20.5 percent increase in tonnage in the fourth quarter of 2010 compared to 2009.
"The right technology allows us to grow without having to add to our monthly overhead," said Ken Erdner, Old Dominion's vice president of information technology. "The automation we've deployed prevents delayed shipments due to late payments and helps us maintain our commitment to providing customers with the industry's highest service levels for on-time and claims-free deliveries."
With the new platform, Old Dominion's accounts receivable department can monitor cash flow in real time in addition to improving the overall efficiency.
"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," said Carl Mergele, CEO of Brainware Inc.
Brainware Distiller for Remittances is manufactured by Brainware Inc., a provider of intelligent data capture and enterprise search solutions.
For more information about Old Dominion, visit www.odfl.com or call (800) 432-6335.
About Brainware, Inc.
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 (now Verizon Wireless), Amgen, Anadarko, BB&T, British American Tobacco, Cleveland Clinic, Continental Airlines, CORT, Gardner Denver, Halliburton, Her Majesty's Prison Service, Johns Manville, Kimberly-Clark, KPMG, NHS/Steria, Newell Rubbermaid, Phillip Morris International Service Center Europe, Reynolds & Reynolds, Rockwell Automation, Shell, Southern Company, Sun Chemical, The Bank of New York Mellon/SourceNet, TriZetto, and many others. For more information, please visit www.brainware.com.
About Old Dominion Freight Line
Old Dominion Freight Line Inc. (NASDAQ: ODFL) is a national less-than-truckload motor carrier providing one-to-five day service among six regions in the United States and next-day and second-day service within these regions. Through its four product groups, OD-Domestic, OD-Expedited, OD-Global and OD-Technology, the Company offers an array of innovative products and services that provide direct service to 48 states within the Southeast, Gulf Coast, Northeast, Midwest, Central and West regions of the country. In addition to domestic less-than-truckload services, the Company offers assembly and distribution services as well as LCL and FCL delivery services to and from all of North America, Central America, South America and the Far East. The Company also offers a broad range of expedited and logistical services for both its domestic and global markets, and for more than 75 years, Old Dominion has been helping the world keep promises. More information can be found at www.odfl.com.
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