Open Scan BILLTRUST. Open Scan Summary & Uline Case Study. End-to-End Invoice-to-Cash Solutions. Presented By: Tim Ray & Kurt Albright August 21, 2014

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1 Open Scan End-to-End Invoice-to-Cash Solutions BILLTRUST Open Scan Summary & Uline Case Study Presented By: Tim Ray & Kurt Albright August 21, 2014

Introductions Timothy F. Ray Vice President of Sales Open Scan, a Division of Billtrust Timothy F. Ray joined Open Scan in 2007.

2 Introductions Timothy F. Ray Vice President of Sales Open Scan, a Division of Billtrust Timothy F. Ray joined Open Scan in During his tenure at Open Scan, Tim has led the organization in sales by closing opportunities with many Fortune 500 companies. He has built a top notch sales organization resulting in better forecasting, increased sales, and growth for the company. Prior to Open Scan, Tim founded a commercial lending organization that focused on serving small to medium-sized businesses. As well, Tim was the Director of Western U.S. and Latin America Sales at Moldflow Corporation, the leading provider of CAD/CAE software products and services. While at Moldflow, he was responsible for building the sales organization from the ground up and developing a reseller network in Latin America. Tim has a Bachelor of Arts Degree in Business Administration, including the Completion of Entrepreneurial Studies Program from the Department of Economics and Business at Washington & Jefferson College in Washington, PA. Tim and his wife live in Denver, CO, with their two children.

3 Introductions Kurt Albright, CICP Director of Credit & Collections Uline, Inc Kurt has led commercial credit teams of various sizes for 25 years. He has broad experience in employee development, process engineering and automation, financial analysis and collection management. Automation of Credit, Collection and Cash Application functions has been an area of focus with several automation systems successfully implemented. He is an expert in the commercial bankruptcy process, having been a member of several significant creditors committees and has led escheatment initiatives. Kurt currently leads the Credit, Collection and Cash Application teams, consisting of 70 employees, at Uline Shipping Supplies, a $2B privately held B2B distributor. His teams are responsible for Order to Cash and manage an A/R portfolio of approximately $250MM. Additionally, he has been instrumental in selling management on the importance of robust escheatment efforts and policies. Prior to joining Uline, Kurt held credit positions of increasing responsibility at RR Donnelley over an 18 year period. He is currently on the Board of Directors of NACM Connect and is an active member of the CRF and ACE groups. Kurt holds a Bachelor of Science degrees in Economics and Business Administration from Carroll University. He resides in Gurnee, IL with his wife and daughter.

4 Agenda Open Scan & Billtrust Connect A/R Business Challenges Cash Application Evolution Payment Channels & Core System Uline s Story Question & Answer

Founded in 1998 Denver, CO Software-as-a-Service Development Company Enterprise

5 About Open Scan The leader in financial workflow automation for accounts receivable with proven success in the market for more than 16 years. Founded in 1998 Denver, CO Software-as-a-Service Development Company Enterprise solutions Wholesale environment Accounts receivable Delivering industry-defining automation technology to Fortune 1000 companies.

6 Overview Our Mission is to Companies To Their Customers and Their Cash YOUR COMPANY Invoice PRESENTMENT CASH APPLICATION Customers Invoice PAYMENT Cash

7 PAYMENT CYCLE MANAGEMENT INVOICE PRESENTMENT - Sends invoices to buyers across multiple channels based on preferences - Timely and accurate delivery with tracking - Linking to AP Systems SUPPLIER Payment and Cash Application - Secure, branded portals to support online payment - Capture payments from all sources - Lockbox, Bank, ACH, Wire - Consolidate and apply to ERP - Seamlessly handle de-coupled payments BUYERS Strategic Management of Last Mile of O2C

Capture payments from all sources - Lockbox, Bank, ACH, Wire - Consolidate and apply to ERP -

8 PAYMENT CYCLE SOLUTION Invoice Delivery - Sends invoices to buyers across multiple channels based on preferences - Timely and accurate delivery with tracking - Linking to AP Systems SUPPLIER - Capture payments from all sources - Lockbox, Bank, ACH, Wire - Consolidate and apply to ERP - Seamlessly handle de-coupled payments 80-85% BUYERS - Secure, branded portals to support online payment 15-20%

9 A/R Business Challenges Processing payments is more complex and labor intensive Payment types are diversifying B2B paper checks are not going away Decoupled remittances are growing with electronic payments Unauthorized deductions are growing

Cash Application Evolution Inefficient ways to process receivables: Lockbox

Technology helps world-class corporations achieve: Savings 100% elimination

exceptions 1-3 Days Receivables Outstanding reduction Process Improvements

10 Cash Application Evolution Inefficient ways to process receivables: Lockbox processing In-house processing Manual electronic payment processing Technology helps world-class corporations achieve: Savings 100% elimination of data entry costs 50-75% resource reallocation 40-50% reduction in exceptions 1-3 Days Receivables Outstanding reduction Process Improvements Cash application Deduction management Collections More timely and accurate data into ERPs

value ($) 5% Electronics Lockbox Remote 30% 80% 65% Electronic

11 Average Payment Volume Vs. Value Payment volume 10% 10% Electronics Lockbox Remote Payment value ($) 5% Electronics Lockbox Remote 30% 80% 65% Electronic volumes are low but increasing. Many of your most valuable customers are moving toward electronics.

12 Automation & Work Reduction - Lockbox Current lockbox 35% Exceptions Autopost Open Scan automation 15% Exceptions Autopost 65% 85% 5 FTEs processing exceptions $16,000/month in data entry fees 1.5 days to fully post $17,000/month payroll 1 FTE processing exceptions $ no data entry fees Same-day posting $3,300/month payroll

13 Automation & Work Reduction - Electronics Current process 0% Exceptions Autopost Open Scan automation 15% Exceptions Autopost 100% 85% 3 FTEs keying data $11,250 /month in payroll 3 days to fully post 1 FTEs processing exceptions $3,750 /month in payroll Same-day posting

Traditional Lockbox Process Payers Mail arrives at bank Mail opened and contents scanned Checks deposited Client s A/P System Bank lockbox ACH & CTX /CCD+ ACH Wires Remit and check images transmitted

14 Traditional Lockbox Process Payers Mail arrives at bank Mail opened and contents scanned Checks deposited Client s A/P System Bank lockbox ACH & CTX /CCD+ ACH Wires Remit and check images transmitted to web Bank keying (monthly costs) EDI All electronic payment remittances are matched manually 100K invoice line items X 20 characters per line X $0.01 per keystroke $20,000 per month Lockbox autopost transmitted to corporate 60-70% Autopost Manual Industry keying Average from image Corporate Exceptions handled next day A/R System

Open Scan Process Payers Client s A/P System ACH &

emails decoupled remits Mailed payments arrive at

deposited Lockbox EDI 820, ACH, & Wire Transmitted

15 Open Scan Process Payers Client s A/P System ACH & CTX /CCD+ ACH Wires Dynamic Receivables EDI Payer s decoupled remits Mailed payments arrive at bank Mail items opened and contents scanned All funds deposited Lockbox EDI 820, ACH, & Wire Transmitted Remit and checks images transmitted Corporate ERP Open A/R file

About Uline Background Company started in a garage Uline started with one product, the H-101 carton sizer in 1980, and it's still in the Uline catalog today.

16 About Uline Background Company started in a garage Uline started with one product, the H-101 carton sizer in 1980, and it's still in the Uline catalog today. Now, headquartered in Pleasant Prairie, Wisconsin $3 billion dollar company with more than 3,500 employees Distribution centers in seven U.S. locations as well as locations in Mexico and Canada.

17 Uline s Situation In-house processing 9 full time employees 4 part time employees 300,000 line items a month Planning on growth

18 Uline s Goals & Results Goals Prep for growth Improve Performance Cut costs in the department Results Significant improvement in matching rates (automation) Faster Cash Application 50% reduction in Cash Application staffing requirements

19 Questions for Kurt & Tim

20 Key Takeaways Increase performance & efficiency Reduce bank lockbox fees & in-house staffing costs Improve posting time and receivables data quality Maximize hit/match rates Reduce errors and exception items Automate EDI 820s and decoupled electronic payments Increase productivity and streamline complex processes Process deductions automatically Apply cash across multiple divisions and easily handle parent/child transactions Integrate easily with your bank & ERP Systems

21 Some of our Cash Application Clients

22 Thank you for joining us today

OPEN SCAN Corporate A/R with a2ia CheckReader : A More Cost-Effective Alternative to Lockbox Data Entry, Showing an ROI in Less Than 12-Month

OPEN SCAN Corporate A/R with a2ia CheckReader : A More Cost-Effective Alternative to Lockbox Data Entry, Showing an ROI in Less Than 12-Month Overview For more than 10 years, A2iA, Artificial Intelligence