MDSL Acquires Innodoc LLC and Forms MDSL Innodoc
September 04, 2012
By Sujata Garud
, TMCnet Contributor
MDSL (News - Alert), a provider of international Telecom Expense Management (TEM) and Market Data Management (MDM) solutions, has acquired the business of Innodoc LLC, an Automated Data Capture technology company.
MDSL has formed a new document management company offering its services as MDSL Innodoc, Inc. Steve Naghshineh, president and CEO at Innodoc, has joined as COO and vice-president of the new company.
The newly formed company specializes in the rapid and automatic processing of all forms of business documentation, bringing together specialized document management and global expense management technologies to create a fully scalable and automated “production line” for receiving, validating, reconciling and internally allocating complex business documentation, including technology invoices.
The new MDSL Innodoc solution automates this process, bringing significantly improved levels of accuracy, consistency and control at greatly reduced cost for almost every large organization, while dramatically raising levels of error detection, productivity and profitability.
“[The new organization within the MDSL Group of technology expense management companies] adds further world-leading, imaging, document management, forms recognition and data transformation services to MDSL’s range of capabilities, and will play an integral part in the new Automated Invoice Processing services that MDSL is now providing to several Fortune-500 clients,” said Ben Mendoza (News - Alert), founder and CEO at MDSL.
“The MDSL Innodoc solution typically processes 60 invoices an hour – a fifteen-fold improvement,” he added. “It also makes fewer mistakes, dives deeper into the details and analyzes them more comprehensively to identify over-payments and other billing inconsistencies, saving you even more money. And if it finds a discrepancy (based on your business rules) it automatically provides the details to help you dispute and resolve the issue with your vendor. Finally, where an invoice is processed that fully matches your criteria, it is automatically allocated and a file sent to your payment system to achieve genuine Straight-Through Processing (STP).”
MDSL was recently in news for introducing TEM Vision, its new entry-level global Telecom Expense Management (TEM) system for enterprise customers everywhere.
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Edited by Braden Becker