FOR IMMEDIATE RELEASE:
Discussions Led by Archive Systems Focused on Automatic Three Way Matching and Accounts Payable Automation Solutions
Fairfield, NJ (September 22, 2008) - Archive Systems, a leading provider of accounts payable automation, today announced that the company’s presentation on the benefits of Straight Through Processing was received with very positive feedback at IAPP’s Philadelphia Chapter Meeting on September 19th.
Rob DeVincent, Archive Systems' Vice President of Product Marketing, discussed the key elements needed in a strategic solution to automate the accounts payable process. He then looked at how companies can bridge the automation gap to fully automate the three way match process. DeVincent also examined the differences between traditional three-way matching and Straight Through Processing.
"We were very pleased with the response we received from attendees during the IAPP meeting. We showed them how many companies have failed to achieve the full benefits of AP automation because they've followed a conventional approach. We explained that in order to take paper out of the AP process, they need to implement a systematic, strategic solution. This enables them to not only automate the routing of invoices and streamline the approval process, but also 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 covered provides significant savings to companies. Matched invoices can 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.
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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