FOR IMMEDIATE RELEASE:
On-Demand Service Achieves Benefits of AP Outsourcing with the Controls of an In-house Solution
Fairfield, NJ (February 14, 2008) - Archive Systems, a leading provider of accounts payable automation and records management services, today announced an agreement with Forbes, a privately held publishing and news media company, to provide ASPEN 360 Accounts Payable Edition.
ASPEN 360 is a subscription–based service that automates the back office process using AP imaging and workflow. This complete AP automation solution integrates document receipt, invoice imaging, data capture, Web-based image hosting, workflow automation, and records storage.
AP professionals are able to maintain tighter control over the entire payable process using ASPEN 360. It includes straight through processing, which uses automated 3-way matching to auto match invoices to PO and receipt line items without AP processor intervention. This increases AP staff productivity, enabling AP departments to handle growing invoice volumes without adding people or reassigning resources.
ASPEN 360 allows users to respond to billing inquiries and other requests for information in seconds with Web-based access to invoices. In addition, Web-enabled self-service access to invoices and payment status information is supported, reducing supplier inquiries and increasing supplier satisfaction.
"Companies such as Forbes are turning to ASPEN 360 to automate their AP processes. This on-demand service provides them with features such as line item capture, PO matching, and 3-way matching. It combines industry best practices with AP imaging and workflow to eliminate risk, reduce costs, and increase efficiencies." stated Rick Kushel, CEO of Archive Systems.
About Forbes Media
Forbes Media was formed in August 2006 as a result of an investment in Forbes by Elevation Partners, in which the private equity firm became a minority shareholder in a newly formed company, encompassing Forbes magazine, Forbes.com and other media properties. Forbes.com reaches in excess of 20 million people monthly. Forbes is the publisher of Forbes, the nation’s leading business magazine—which celebrated its 90th anniversary in 2007—and its international edition, Forbes Asia, which together reach a worldwide audience of nearly five million readers. Forbes.com is the company’s Internet business, which is the homepage for the world’s business leaders and the #1 business site on the Web. The company also publishes ForbesLife and ForbesLife Executive Woman. Forbes’ local-language editions include: Forbes Nihonban, Forbes Korea, Forbes China, Forbes Russia, Forbes Arabia, Forbes Israel, Forbes Poland and Forbes Turkey.
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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