FOR IMMEDIATE RELEASE:
AP Specialists Provide In-Depth Analysis of AP Procedures
Fairfield, NJ (May 19, 2008) - Archive Systems, a leading provider of accounts payable automation, today announced the launch of a new Accounts Payable Process Assessment service. The paid service provides companies with an in-depth analysis of their AP procedures in order to help make the transition to an automated, paperless environment.
"Archive Systems has a strong presence in accounts payable so it was a natural progression to offer this service. Our team of AP specialists has extensive experience analyzing the AP processes of companies when implementing ASPEN 360 Accounts Payable Edition. They're able to gain a strong understanding of current processes in order to find ways to increase efficiencies, reduce costs, and boost productivity. Now we're making this service available to all organizations," stated Dave Craig, President of Archive Systems.
As part of the service, Archive Systems' AP team performs a thorough analysis, examining how different types of invoices flow through an organization and get paid. The team looks into all areas, including: who gets involved in the AP process, how many people touch an invoice, how often is an invoice copied, how often is an invoice mailed, who talks to vendors and why is the vendor calling, what is done in preparation for audits and how disruptive is that to everyday activity, how are liabilities determined at the end of each month, and more.
The AP team interviews the stakeholders, both on site and over the phone, to review the process and elicit details regarding issue resolution and exception handling. They also identify persistent friction points: points in the processes that reveal a lack of programmatic audit trail to enforce regulations and corporate policies and inefficient use of resources to accomplish the tasks. The team documents the current state, creating both narrative and process flows, as well as identifies the opportunities for improvement. The final analysis is then presented to the project sponsor.
"One of the strengths of this service is that our AP team knows how to work with executives, AP managers and processors. They are able to uncover critical information in order to clearly illustrate the current processes that keep a company's accounts payable flowing. They not only describe how things work in an AP department but also why," added Craig.
The AP team is able to provide corporate executives with the data needed to make informed decisions about the AP process. These executives will then be able to better focus on the larger goal of implementing a paperless, fully automated and auditable solution.
About Archive Systems, Inc.
Archive Systems, Inc. flagship solution, ASPEN 360 Accounts Payable Edition, combines best practices AP Automation with ZeroTouch AP imaging and workflow. The product increases efficiencies and reduces costs with features such as straight through processing, which uses automated three-way matching to auto match invoices to PO and receipt line items without AP processor intervention. It includes the ASPEN 360 Invoice Virtualization Center, which removes from the client all tasks associated with document imaging, data capture, document classification, indexing, and OCR. The company also provides physical records management services such as business records storage, document shredding, and offsite data storage, through a number of Record Center locations. For more information, please visit www.archivesystems.com.
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