HID Selects GETPAID for Working Capital Optimization

Parsippany, NJ – The GETPAID® Corporation, the leading provider of software and services for working capital optimization, today announced that HID Corporation, the premier manufacturer of contactless access control cards and readers for the security industry, has selected GETPAID to integrate with Oracle 11i for improved management of working capital.

“We conducted a working capital study and concluded that we needed to implement automation technology in order to reduce our DSO,” explains Mary Procyk, Controller at HID Corporation. “We selected GETPAID after a thorough evaluation of our current systems and processes; GETPAID offered a higher level of functionality at an affordable price. With GETPAID we can proactively address collections, automate many manual tasks, track deductions for expedited resolution, and perform root-cause analysis.”

“Companies of all sizes are looking to drive efficiency and effectiveness within their credit and finance functions,” said Dianna Piumelli, CEO of The GETPAID Corporation. “Our customers are faced with demands to increase cash flow and reduce bad debt expense. At the same time, they must maintain or decrease operating costs, comply with regulatory requirements and operate within their existing budget constraints. Through our unique portfolio of solutions, GETPAID is positioned to address the diverse needs of companies of all sizes.”

Key Benefits for HID:

• Lower Days Sales Outstanding (DSO) through improved management and support of collection efforts with automation of workflow and manual processes.
• Decreased dispute resolution cycle time using automated assignment and tracking of resolution status and centralized communication.
• Improved internal processes and reduced deduction volume through root-cause analysis of deductions including pricing, freight, returns, and other recurring issues.
• Increased performance monitoring and visibility with reporting, portfolio analysis, and an online collections effectiveness index.

GETPAID offers an Enterprise Solution, the GETPAID Express Edition (XE) for small-medium businesses, and GETPAID On Demand ? a low cost, subscription based solution, to meet the budgetary and functional requirements of small to medium businesses. GETPAID has been successfully interfaced with over 30 different ERP systems with standard interfaces for Oracle, SAP, and JD Edwards. The GETPAID customer base consists of a wide variety of companies from every primary industry using diverse deployment models including centralized, distributed, shared service center, and Business Process Outsourcing (BPO).