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Fastenal Company Recognized as I-Cubed Award Finalist

Thursday, April 26, 2007

Press release from the issuing company

TAMPA, Fla. – April 25, 2007 – AnyDoc Software, a leading provider of automated document and data capture solutions, announced today that their client, Fastenal Company, was selected as a finalist for the Integrated Solutions magazine’s I-Cubed Award. The awards were presented at the recent AIIM Expo, on April 17 in Boston, MA. The I-Cubed award, which stands for Innovate, Integrate and Inspire, honors end-users that have implemented outstanding document and content management technology solutions in their organization. Fastenal was recognized for its implementation of a complete document capture and processing solution for accounting utilizing AnyDoc INVOICE and AnyDocREMIT. Fastenal’s implementation of the AnyDoc solution is significant because it automates the two manual processes that can create the largest bottlenecks in an accounting department ­– the processing of accounts payable (AP) invoices and the processing of accounts receivables (AR) remittances. With the AnyDoc solution in place, the number of valid invoices, checks and remittances being processed has increased 60 percent to 16,000 documents per day, without adding additional staff. Prior to the implementation, Fastenal was manually processing approximately 10,000 documents per day. Bob Stone, lead developer of accounts payable at Fastenal was in Boston to accept the I-Cubed Finalist award. Stone said, “It’s gratifying to receive recognition for our implementation of the AnyDoc solution. Its intelligent integration with our existing PeopleSoft accounting system has allowed us to increase our productivity and data accuracy without adding additional employees, even as our company continues to grow.”




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