FOR IMMEDIATE RELEASE:
Discussion Will Focus on Straight Through Processing and AP Best Practice Workflow Technology
Fairfield, NJ (April 10, 2008) - Archive Systems, a leading provider of accounts payable automation, today announced that the company will be presenting three sessions on automatic line item matching using Straight Through Processing at the IAPP 18th Annual Forum. The Forum will be held April 20th to the 24th in San Diego, California.
The presenter during the session will be Rob DeVincent, Archive Systems' Vice President of Product Marketing. He will explore the differences between traditional three-way matching and Straight Through Processing, the efficiencies gained by using Straight Through Processing, and the strategic benefits of using a Business Process Virtualization Engine to allow for a true AP-ownable solution. Participants will also learn how all paper invoices are converted into electronic invoices using an Invoice Virtualization Center and how to further streamline the AP automation resistant functions utilizing advanced AP imaging and workflow technology.
The automatic three-way line item matching process provides significant savings to companies. It enables matched invoices to be processed straight through to a company’s financial system without AP intervention using a Business Process Virtualization Engine. This enhances the purchase-to-pay process, increases efficiencies, drives out costs and lets AP departments handle increasing volumes without adding people.
"We are looking forward to participating in IAPP's Annual Forum again. IAPP has scheduled us to present three sessions on automatic line matching, which highlights the importance of this topic to Accounts Payable professionals," stated DeVincent. "I believe the attendees will find these to be very informative sessions. They will include the key components needed for a complete Accounts Payable workflow solution, and a look at real Straight Through Processing and Accounts Payable best practice for workflow technology."
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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