American Red Cross recognized as leader in accounts receivable innovation

News release

DALLAS – May 10, 2010 – When disaster situations strike, nonprofit organizations must be quick to respond. For the American Red Cross, this reality hit home when the organization’s Miami chapter received a high level of donations following the devastating earthquake that struck Haiti in January 2010. By utilizing an innovative donations processing solution, the organization successfully met the challenge of quickly and efficiently managing receivables in a time of disaster.

The solution – a remote deposit capture system donated and installed by the organization’s donations processor, CDS Global – led the American Red Cross to be recognized today as a 2010 Innovation Award recipient at the FUSION 2010 Forum & Expo in Dallas. The award, presented by The Association for Work Process Improvement (TAWPI), International Accounts Payable Professionals (IAPP) and International Accounts Receivable Professionals (IARP), honors “accounts receivable innovation based on demonstrated leveraging of technology and the business process to take remittance and receivables to the next level.”

"CDS Global is pleased to congratulate the American Red Cross on receiving the Innovation Award for accounts receivable innovation," says Nancy Gessmann, senior vice president of Enterprise Solutions at CDS Global. "Their dedication to providing a quick response to the Haiti earthquake while maximizing processing efficiencies allowed CDS Global to assist them in a time of need. We look forward to continuing our work with their well-respected humanitarian organization."

For additional information, view a case study detailing the effort at www.cdsglobal.ca/casestudies.

About the American Red Cross

Since its founding in 1881 by visionary leader Clara Barton, the American Red Cross has been the premier emergency response organization in the United States. As part of a worldwide movement that offers neutral humanitarian care to the victims of war, the American Red Cross distinguishes itself by also aiding victims of devastating natural disasters. Over the years, the organization has expanded its services, always with the aim of preventing and relieving suffering.

Today, in addition to domestic disaster relief, the American Red Cross offers compassionate services in five other areas: community services that help the needy; support and comfort for military members and their families; the collection, processing and distribution of lifesaving blood and blood products; educational programs that promote health and safety; and international relief and development programs.

An average of 92 cents of every dollar the Red Cross spends is invested in humanitarian services and programs.