FOR IMMEDIATE RELEASE:
Discussions Will Focus on Automatic Three Way Matching and Accounts Payable Automation Solutions
Fairfield, NJ (July 24, 2008) - Archive Systems, a leading provider of accounts payable automation, today announced that Rob DeVincent, Vice President of Product Marketing, will present the benefits of Straight Through Processing at IAPP's Philadelphia Chapter Meeting on September 19th.
During the presentation, DeVincent will examine how companies can bridge the automation gap to fully automate the three way match process. He will also explore the differences between traditional three-way matching and Straight Through Processing, as well as the efficiencies that can be gained through automation.
"This is an important topic because countless organizations have tried to automate the three way matching process in order to reduce transaction processing costs in Accounts Payable departments. Although they've been able to implement new technology to automate matching PO data to receipt data, they have been unable to convert vendor invoices to an electronic format to further automate the invoice matching process," stated DeVincent.
The automatic three-way line item matching process that DeVincent will cover provides significant savings to companies. It enables matched invoices to be processed straight through to a company’s financial system without AP intervention. This enhances the purchase-to-pay process, increases efficiencies, drives out costs and lets AP departments handle increasing volumes without adding people.
Charming Shoppes, a leading multichannel specialty apparel retailer, will host the meeting at its Bensalem, Pennsylvania headquarters.
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.
# # #
