SOURCE: BirchStreet

BirchStreet

BirchStreet

November 17, 2010 11:00 ET

BankServ and BirchStreet Systems Partner to Speed and Simplify Procurement Payments for the Hospitality Industry

SAN FRANCISCO, CA and NEWPORT BEACH, CA--(Marketwire - November 17, 2010) - BankServ and BirchStreet Systems, Inc. today announced they have entered into a strategic partnership to package remote check capture capability with BirchStreet's award-winning procure-to-pay platform. Under the terms of the deal, BirchStreet clients will gain the option to use BankServ's DepositNow online check deposit and receivables management system to speed and simplify payments related to the global procurement-to-pay process.

More than 100,000 businesses use BankServ's receivables management solutions to get paid faster by scanning inbound check payments directly into their bank accounts. BirchStreet Systems brings deep procure-to-pay automation expertise and a network of over 160,000 suppliers in 35 countries. The company offers the only procure-to-pay platform specifically designed for the hospitality and food service sector, which automates over $2 billion a year in food and beverage (F&B), maintenance, repair and operations (MRO), and operating supplies and equipment (OS&E) transactions for thousands of hotels, clubs, restaurants and assisted living facilities.

"This partnership has the potential to revolutionize business-to-business payments in our industry," said Doug Sanborn, president of BirchStreet Systems. "BankServ has the electronic payments expertise to serve the receivables management side of hundreds of thousands of businesses. BirchStreet has the know-how and technology to serve the procurement and payables side of thousands of companies, including many of the world's largest hospitality organizations. Together, we can deliver unprecedented value on both sides."

BirchStreet Systems is the choice procure-to-pay provider of many of the world's largest hotel companies, including Hilton Worldwide, Hyatt Hotels, Marriott International, Inc., Omni Hotels & Resorts and Interstate Hotels & Resorts.

"We are tremendously excited to work with BirchStreet Systems," said David Kvederis, CEO of BankServ. "Both buyers and suppliers want faster, easier payment processing -- and by adding our receivables management tools to BirchStreet's procurement and payables solutions, we can deliver end-to-end value in a totally synergistic way. We look forward to rounding out a comprehensive payments suite for an industry in which our companies' respective specialties truly complement each other."

About BankServ
BankServ is a leading provider of banking and payment technology for businesses and financial institutions. With its SaaS delivery model, BankServ offers world-class service bureau products for remote deposit capture, online and wireless payment acceptance, as well as Fedwire and SWIFT systems for banks. Founded in 1996, BankServ is a privately held company headquartered in Las Vegas, Nevada. More information on BankServ can be found at www.bankserv.com.

About BirchStreet Systems, Inc.
BirchStreet Systems, Inc., a recognized leader in hospitality technology, provides its web-based procure-to-pay platform, inventory control, recipe management and capital projects solution to restaurants chains, country clubs, assisted living facilities and some of the world's largest hotel companies, including Hilton Worldwide, Hyatt Hotels, Marriott International, Inc., Omni Hotels and Interstate Hotels and Resorts. BirchStreet's applications are delivered over the Internet, using the "Software-as-a-Service" (SaaS) model. Currently, thousands of businesses in over 35 countries utilize BirchStreet to access and manage more than 160,000 suppliers. Founded in 2002, BirchStreet is privately held and has offices in Newport Beach, Calif., New Delhi, India and Dallas, Texas. For more information on BirchStreet Systems, please visit www.BirchStreet.net or follow us on Twitter at Twitter.com/BirchStreetSys.

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