CONTACT: Bob Savage, Partner
101 Main Street
Toledo, OH 43605
(419) 205‐9000 phone/ (888) 696‐1492 fax
Plymouth Venture Partners Fund II Makes Investment in Perrysburg’s Image Integration Systems
PERRYSBURG, OH— Plymouth Ventures announced its second investment from Plymouth Venture Partners Fund II (“PVP II”) in Image Integration Systems (IIS) of Perrysburg, Ohio. IIS specializes in the automation of the accounts payable process and document management software solutions. DocuSphere All‐in‐One for AP, the company’s flagship product, electronically routes invoices for approval, enables general ledger coding and tightly integrates with ERP software to ensure timely payment. IIS software provides clients with benefits including: fraud prevention, cost reduction, workflow system solutions, working capital management, internal controls and vendor financing. A full implementation of DocuSphere can reduce the average invoice processing cost by 75% or more. These cost savings have been validated by key customers, many of which process up to 120,000 invoices a month. Most IIS clients are in the large company category, with sales of $500 million and above.
DocuSphere enables clients to better manage working capital and capture early‐pay discounts. One key customer saw an increase in annual early‐pay discounts from $26,000 to $1 million in the first year following DocuSphere implementation.
The software can also be useful in the efficient management of a number of business processes. Examples of customer applications beyond A/P automation include the following:
- Shipment Document Assembly
- Capital Expenditure Requests
- Financial Reporting
- Human Resources
Mark Horne, PMC’s Chief Executive Officer commented “IIS has an established list of premier customers, including Royal Dutch Shell, Macy’s, The Shaw Group and FirstGroup America. We have been impressed with the company’s leadership and are excited to work with the IIS team to develop new product functionality that will dramatically increase the size of the company’s addressable market.” Brad White, Image Integration Systems President added “We are pleased to be working with Plymouth Ventures as we enter the next growth phase in our company’s history. We are excited to begin new software development as we continue serving our existing customer base with superior products. We have already begun looking for three experienced sales professionals to bolster our existing sales capacity and we are looking forward to continuing to build relationships with our EBS and SAP industryleading partners.” Plymouth Management Company Partner Bob Savage will take a Board seat with the company and assist
IIS in achieving further growth.
About Image Integration Systems
Image Integration Systems offers a suite of content management and business process management software, as well as all associated consultation, installation, implementation, training and support.