BILLTRUST

Open Scan

Presented By:Tim Ray & Kurt Albright | August 21, 2014

End-to-End Invoice-to-Cash Solutions

Open Scan Summary & Uline Case Study

Introductions

Timothy F. Ray joined Open Scan in 2007. During his tenure at Open Scan, Tim has led the organization in sales by closing opportunities with many Fortune 500 companies. He has built a top notch sales organization resulting in better forecasting, increased sales, and growth for the company.

Prior to Open Scan, Tim founded a commercial lending organization that focused on serving small to medium-sized businesses. As well, Tim was the Director of Western U.S. and Latin America Sales at Moldflow Corporation, the leading provider of CAD/CAE software products and services. While at Moldflow, he was responsible for building the sales organization from the ground up and developing a reseller network in Latin America.

Tim has a Bachelor of Arts Degree in Business Administration, including the Completion of Entrepreneurial Studies Program from the Department of Economics and Business at Washington & Jefferson College in Washington, PA. Tim and his wife live in Denver, CO, with their two children.

Timothy F. Ray Vice President of Sales

Open Scan, a Division of Billtrust

Introductions

Kurt has led commercial credit teams of various sizes for 25 years. He has broad experience in employee development, process engineering and automation, financial analysis and collection management. Automation of Credit, Collection and Cash Application functions has been an area of focus with several automation systems successfully implemented. He is an expert in the commercial bankruptcy process, having been a member of several significant creditors’ committees and has led escheatment initiatives.

Kurt currently leads the Credit, Collection and Cash Application teams, consisting of 70 employees, at Uline Shipping Supplies, a $2B privately held B2B distributor. His teams are responsible for Order to Cash and manage an A/R portfolio of approximately $250MM. Additionally, he has been instrumental in selling management on the importance of robust escheatment efforts and policies.

Prior to joining Uline, Kurt held credit positions of increasing responsibility at RR Donnelley over an 18 year period. He is currently on the Board of Directors of NACM Connect and is an active member of the CRF and ACE groups. Kurt holds a Bachelor of Science degrees in Economics and Business Administration from Carroll University. He resides in Gurnee, IL with his wife and daughter.

Kurt Albright, CICPDirector of Credit & Collections

Uline, Inc

Agenda

Open Scan & Billtrust Connect

A/R Business Challenges

Cash Application Evolution

Payment Channels & Core System

Uline’s Story

Question & Answer

Founded in 1998Denver, CO

Software-as-a-Service Development Company

Enterprise solutions Wholesale environment Accounts receivable

Delivering industry-defining automation technology toFortune 1000 companies.”

The leader in

financial workflow

automation for

accounts receivable

with proven success

in the market for

more than 16 years.

“

About Open Scan

Overview

Our Mission is to

CompaniesTo TheirCustomersand Their Cash

InvoicePRESENTMENT

InvoicePAYMENT

CASH APPLICATION

YOUR COMPANY

Customers

Cash

- Secure, branded portals to support online payment- Capture payments from all sources - Lockbox, Bank, ACH, Wire- Consolidate and apply to ERP- Seamlessly handle “de-coupled” payments

INVOICE PRESENTMENT

SUPPLIER

PAYMENT CYCLE MANAGEMENT

- Sends invoices to buyers across multiple channels based on preferences- Timely and accurate delivery with tracking- Linking to AP Systems

BUYERSPayment and Cash Application

Strategic Management of Last Mile of O2C

- Capture payments from all sources - Lockbox, Bank, ACH, Wire- Consolidate and apply to ERP- Seamlessly handle “de-coupled” payments

80-85%

15-20%- Secure, branded portals to support online payment

Invoice Delivery

SUPPLIER

PAYMENT CYCLE SOLUTION

- Sends invoices to buyers across multiple channels based on preferences- Timely and accurate delivery with tracking- Linking to AP Systems

BUYERS

A/R Business Challenges

Processing payments is more complex and labor intensive

Payment types are diversifying

B2B paper checks are not going away

Decoupled remittances are growing with electronic payments

Unauthorized deductions are growing

Inefficient ways to process receivables: Lockbox processing

In-house processing

Manual electronic payment processing

Savings

100% elimination of data entry costs

50-75% resource reallocation

40-50% reduction in exceptions

1-3 Days Receivables Outstanding reduction

Technology helps world-class

corporations achieve:

Process Improvements

Cash application

Deduction management

Collections

More timely and accurate data into ERPs

Cash Application Evolution

Average Payment Volume Vs. Value

Payment volume10%

80%

10% ElectronicsLockboxRemote

Electronic volumes are low but

increasing.

Payment value ($)

30%

65%

5% ElectronicsLockboxRemote

Many of your most valuable customers

are moving toward electronics.

Current lockbox

35%

65%

ExceptionsAutopost

5 FTEs processing exceptions

$16,000/month in data entry fees

1.5 days to fully post

$17,000/month payroll

Open Scan automation

15%

85%

ExceptionsAutopost

1 FTE processing exceptions

$0.00 - no data entry fees

Same-day posting

$3,300/month payroll

Automation & Work Reduction - Lockbox

Current process

100%

0% ExceptionsAutopost

3 FTEs keying data

$11,250 /month in payroll

3 days to fully post

Open Scan automation

15%

85%

ExceptionsAutopost

1 FTEs processing exceptions

$3,750 /month in payroll

Same-day posting

Automation & Work Reduction - Electronics

Traditional Lockbox Process

Mail

arrives at

bank

Mail opened

and contents

scanned

Checks

deposited

Remit and check

images transmitted

to web

Banklockbox Exceptions handled

next day

Lockbox autopost

transmitted to corporate

60-70% Autopost

Industry Average

Corporate

Bank keying

(monthly costs)

100K invoice line items

20 characters per lineX

X

$0.01 per keystroke

$20,000 per month

A/R System

Manual keying

from image

ACH & CTX

/CCD+

ACH

WiresClient’s A/P SystemPayers

EDI

All electronic payment remittances are

matched manually

Mailed

payments

arrive at

bank

Mail items

opened and

contents

scanned

All funds

deposited

Lockbox

ERP Open A/R file

Client’s A/P

System

Payers

EDI 820, ACH, & Wire

Transmitted

Payer

emails

decoupled

remits

Remit and checks

images

transmitted

EDI

Corporate

ACH & CTX

/CCD+

ACH

Wires

Open Scan Process

Dynamic

Receivables

About Uline

Background

Company started in a garage

Uline started with one product, the H-101 carton sizer in 1980, and it's still in the Uline catalog today.

Now, headquartered in Pleasant Prairie, Wisconsin

$3 billion dollar company with more than 3,500 employees

Distribution centers in seven U.S. locations as well as locations in Mexico and Canada.

Uline’s Situation

In-house processing

9 full time employees

4 part time employees

300,000 line items a month

Planning on growth

Uline’s Goals & Results

Goals

Prep for growth

Improve

Performance

Cut costs in the

department

Results

Significant improvement

in matching rates

(automation)

Faster Cash Application

50% reduction in Cash

Application staffing

requirements

Questions for Kurt & Tim

Key Takeaways

Increase performance & efficiency

Reduce bank lockbox fees & in-house staffing costs

Improve posting time and receivables data quality

Maximize hit/match rates

Reduce errors and exception items

Automate EDI 820s and decoupled electronic payments

Increase productivity and streamline complex processes

Process deductions automatically

Apply cash across multiple divisions and easily handle parent/child transactions

Integrate easily with your bank & ERP Systems

Some of our Cash Application Clients

Thank you for joining us today