Icelandair Group Selects Brainware Distiller for Invoice Processing Efficiency in Shared Services

ASHBURN, Va., May 8, 2012 /PRNewswire/ -- Brainware announced today that Icelandair Group (NASDAQ OMX Iceland: ICEAIR), a Reykjavik-based enterprise including airline, freight, hotel, tour and ground services operations, has selected Brainware Distiller for the automation of accounts payable operations in the company's shared services center—Fjarvakur.  The customer selected Distiller after evaluating competitive offerings from Kofax and ReadSoft.

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This project will include the Brainware Visibility module for instant metrics and analytics, supporting greater transparency and accountability in accounts payable.

"In evaluating available solutions for accounts payable automation, it became quickly apparent that Brainware's technology was most capable for supporting our long-term process improvement strategy," said Magnus Kr. Ingason, Managing Director of Icelandair Shared Services.  "Distiller did not demand the same commitment of time and labor to implement, which means we should realize a quicker return on the investment."

"We also liked Brainware's offering for greater reporting on the status of our invoices, which helps us manage operations on a day-to-day basis," added Ingason.

"In addition to demonstrating extremely high rates of field data extraction, Distiller's template-free approach translates to low cost of ownership, as new document formats and increased volumes can be handled effortlessly," said Carl E. Mergele, Executive Vice President and General Manager at Brainware.  "Intelligent data capture technology builds upon the efficiency of a shared services model to enable faster, more accurate processing, as well as greater insight into the overall process, from receipt to post.  Brainware is proud to serve Icelandair Group's data capture needs."

Icelandair Group focuses on the international airline and tourism sectors with Iceland as a cornerstone of an international route network.  The Group consists of nine subsidiaries that are inter-related and support each other, both through revenue generation and in cost-sharing.  Icelandair is the largest subsidiary and the main driver in the Group's operations.  For more information, visit www.icelandairgroup.com.

About Brainware

Brainware, part of Perceptive Software, a Lexmark company (NYSE: LXK), is an innovative provider of intelligent data capture and enterprise search solutions that help Global 2000 companies eliminate costly manual data entry, rapidly process large volumes of documents and retrieve data from across the enterprise.  Its solutions were built from the ground up to manage unstructured data without templates, exact definitions, taxonomies or indexing.  Headquartered in Ashburn, Virginia, Brainware maintains global sales and support operations through its North American, U.K. and European offices.  Brainware customers include Airbus, Alcon, Anadarko, BB&T, Baylor Health Care System, British American Tobacco, BSkyB, Clear Channel Communications, Cleveland Clinic, Continental Airlines, CORT, Frontier Communications, Gardner Denver, Halliburton, Her Majesty's Prison Service, Johns Manville, KPMG, NEC, NHS/Steria, Newell Rubbermaid, Old Dominion Freight Line, Philip Morris International, Resurrection Health Care, Reynolds & Reynolds, Shell, Southern Company, Sun Chemical, The Bank of New York Mellon/SourceNet, TriZetto, and many others.  For more information, please visit www.brainware.com.

SOURCE Brainware