DALLAS, Dec. 27 /PRNewswire-FirstCall/ -- Affiliated Computer Services, Inc., , a premier provider of business process and information technology outsourcing solutions, announced today that it has signed a business process outsourcing (BPO) contract with Office Depot to provide credit, collection, and sales tax support services. The 7-year agreement is valued at $25 million, with a one-year renewal option.
ACS has been a valued BPO provider to Office Depot for more than four years providing finance and accounting services in accounts payable and document management. Under the existing contract, ACS processes more than 1.5 million paper invoice images and 5 million electronic data images yearly for the retail office products giant. ACS has expanded the finance and accounting services it provides to Office Depot to include responsibility for managing the accounts receivable functions of credit, and collections, along with sales tax processing.
ACS will deliver a seamless interface to Office Depot's existing technology, and will continuously evaluate the potential to introduce new technology enhancements in the future.
"ACS has a proven track record with Office Depot providing our nationwide chain of stores with exceptional service and solutions that have significantly improved our overall business processes and reduced our operating costs. We have then been able to pass these savings on to our customers," said George Bryan, vice president of financial services for Office Depot. "We are confident that with ACS' additional support in the areas of credit, collection, and sales tax processing, Office Depot will continue to experience improvements in efficiency and performance, as well as further cost savings."
"This contract broadens the depth of our accounts receivable capabilities and expands ACS' finance and accounting offerings to Office Depot," said Lynn Blodgett, group president of ACS Commercial Solutions. "Our relationship with Office Depot is an outstanding example of a successful experience turning into an expanded working partnership. With our additional services for Office Depot, we will introduce a new tier of services and solutions and continue to deliver a spectrum of capabilities, expertise, and savings to this global office products leader."
Office Depot is one of the world's largest sellers of office products. Founded in 1986 and headquartered in Delray Beach, Florida, the company conducts business in 23 countries and employs nearly 50,000 people worldwide. For more information about Office Depot, visit the company's web site at http://www.officedepot.com/.
ACS, a FORTUNE 500 company with more than 43,000 people supporting client operations in nearly 100 countries, provides business process and information technology outsourcing solutions to world-class commercial and government clients. The company's Class A common stock trades on the New York Stock Exchange under the symbol "ACS." ACS makes technology work. Visit ACS on the Internet at http://www.acs-inc.com/.
The statements in this news release that do not directly relate to historical facts constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to numerous risks and uncertainties, many of which are outside the Company's control. As such, no assurance can be given that the actual events and results will not be materially different than the anticipated results described in the forward-looking statements. Factors could cause actual results to differ materially from such forward-looking statements. For a description of these factors, see the Company's prior filings with the Securities and Exchange Commission, including the most recent Form 10-K. ACS disclaims any intention or obligation to revise any forward-looking statements, whether as a result of new information, future event, or otherwise.
ACS, Inc.
ACS has been a valued BPO provider to Office Depot for more than four years providing finance and accounting services in accounts payable and document management. Under the existing contract, ACS processes more than 1.5 million paper invoice images and 5 million electronic data images yearly for the retail office products giant. ACS has expanded the finance and accounting services it provides to Office Depot to include responsibility for managing the accounts receivable functions of credit, and collections, along with sales tax processing.
ACS will deliver a seamless interface to Office Depot's existing technology, and will continuously evaluate the potential to introduce new technology enhancements in the future.
"ACS has a proven track record with Office Depot providing our nationwide chain of stores with exceptional service and solutions that have significantly improved our overall business processes and reduced our operating costs. We have then been able to pass these savings on to our customers," said George Bryan, vice president of financial services for Office Depot. "We are confident that with ACS' additional support in the areas of credit, collection, and sales tax processing, Office Depot will continue to experience improvements in efficiency and performance, as well as further cost savings."
"This contract broadens the depth of our accounts receivable capabilities and expands ACS' finance and accounting offerings to Office Depot," said Lynn Blodgett, group president of ACS Commercial Solutions. "Our relationship with Office Depot is an outstanding example of a successful experience turning into an expanded working partnership. With our additional services for Office Depot, we will introduce a new tier of services and solutions and continue to deliver a spectrum of capabilities, expertise, and savings to this global office products leader."
Office Depot is one of the world's largest sellers of office products. Founded in 1986 and headquartered in Delray Beach, Florida, the company conducts business in 23 countries and employs nearly 50,000 people worldwide. For more information about Office Depot, visit the company's web site at http://www.officedepot.com/.
ACS, a FORTUNE 500 company with more than 43,000 people supporting client operations in nearly 100 countries, provides business process and information technology outsourcing solutions to world-class commercial and government clients. The company's Class A common stock trades on the New York Stock Exchange under the symbol "ACS." ACS makes technology work. Visit ACS on the Internet at http://www.acs-inc.com/.
The statements in this news release that do not directly relate to historical facts constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to numerous risks and uncertainties, many of which are outside the Company's control. As such, no assurance can be given that the actual events and results will not be materially different than the anticipated results described in the forward-looking statements. Factors could cause actual results to differ materially from such forward-looking statements. For a description of these factors, see the Company's prior filings with the Securities and Exchange Commission, including the most recent Form 10-K. ACS disclaims any intention or obligation to revise any forward-looking statements, whether as a result of new information, future event, or otherwise.
ACS, Inc.
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