June 19, 2008
TCP, Inc. Saves Green While Going Green With Hyland Software’s OnBase
CLEVELAND, June 19 /PRNewswire/ -- Hyland Software, developer of the OnBase(R) enterprise content management (ECM) software suite, announced today that TCP, Inc., the leading manufacturer of energy efficient lighting products, has chosen OnBase to help the company meet its aggressive but environmentally sustainable growth objectives.
(Logo: http://www.newscom.com/cgi-bin/prnh/20070110/CLW019LOGO )TCP is using OnBase's document and process management capabilities to reduce paper consumption while eliminating wasteful, unproductive steps from its operational and administrative processes. The company has used OnBase to create a paperless order entry process, eliminating the need to print 125,000 pieces of paper annually, reducing days outstanding by five days and saving the equivalent of four full-time employees in labor hours. These reductions have enabled TCP to achieve a return on investment with OnBase in less than one year.
"Green IT is a rapidly rising strategy and priority for many midsize businesses; approximately 30% of U.S.-based midsize businesses at the Gartner Fall Midsize Enterprise Summit in September 2007 cited green IT as an important IT initiative for their company. We expect this to increase by 40% by the end of 2008," said James A. Browning from Gartner's "Findings: Midsize Business 'Green IT' Initiatives Are Driven Mostly by Cost Savings," October 25, 2007.
"TCP believes that executing efficiently and effectively are not mutually exclusive goals," explained Joseph Vocaire, CIO at TCP, Inc. "In the process of going paperless we enable our AR staff to spend less time looking for information and more time meeting the company's cash flow objectives."
Prior to using OnBase, the order entry process was paper-based, with order forms, bills of lading, tickets and all supporting documentation being printed and filed by employees. When orders were past due on payment, it would take employees days to find the orders, therefore reducing overall cash flow for the company.
TCP expects that once OnBase is rolled out across its Accounts Receivable operations, the entire process will be paperless. Included in this end result is a goal to have the current 18-step AR process reduced to six steps. Furthermore, using performance metrics from the National Association of Credit Management (NACM) and the Credit Research Foundation (CRF), TCP currently estimates that the AR department's collection time is already three days less than the industry average. The company expects to reduce its days outstanding further once OnBase is completely rolled out across the process.
"TCP is a forward-thinking organization and we applaud its innovative use of document and process management software to help drive profitable growth while maintaining its commitment to corporate social responsibility," said Bud Viancourt, Manufacturing Solutions Manager at Hyland Software.
TCP, Inc. is the global leader in energy efficient lighting innovations dedicated to creating high-quality products that are brighter, longer lasting and better for the environment. Headquartered outside Cleveland, Ohio, the company manufactures nearly 1.4 million energy saving compact fluorescent light bulbs (CFLs) every day, accounting for a majority of the CFLs sold in the United States and an annual reduction in carbon dioxide emissions of more than 118 million pounds. The company markets a variety of energy efficient lighting products for professional, specifier and consumer markets under several brands including n:vision at The Home Depot, SpringLight, and ecoVations. TCP's extensive product line extends beyond CFLs and includes LED lamps and fixtures, cold cathode lamps, exit and emergency lighting, HID, decorative and outdoor fixtures, as well as the first ever linear lamp, ballast and fixture offering. TCP is a privately held company, employing more than 15,000 people globally and totaled more than $300 million in sales in 2007, a more than fivefold increase since 2000. For more information, visit us at http://www.tcpi.com/ or call (800) 324-1496.
About Hyland Software Inc.
Hyland Software Inc. is the developer of OnBase, a rapidly deployable suite of enterprise content management (ECM) software applications. OnBase is a modular suite of ECM applications that includes document imaging, workflow, electronic document management, COLD/ERM and records management. OnBase allows organizations to manage all digital content, including scanned paper documents, e-mails, faxes, print streams, application files, e-forms, Web content and multi-media files. OnBase is used by businesses and government agencies around the world to reduce the time and cost of performing important business functions and address the need for regulatory compliance through the management, control and sharing of digital content with employees, business partners, customers and other constituencies. For more information about OnBase, please contact an Authorized OnBase Solution Provider or visit http://www.onbase.com/.
Contact: Lindsay McCune 440-788-6029
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20070110/CLW019LOGOAP Archive: http://photoarchive.ap.org/PRN Photo Desk, [email protected]
CONTACT: Lindsay McCune, for Hyland Software, +1-440-788-6029,[email protected]
Web site: http://www.onbase.com/http://www.tcpi.com/