FOR IMMEDIATE RELEASE:
Retailer Implements ASPEN 360 for Accounts Payable Automation
Sunnyvale, CA and Charlotte, NC and Fairfield, NJ (October 15, 2009) - The Children's Place Retail Stores, Inc., was honored for excellence in electronic invoicing by research and consulting firm, PayStream Advisors, last week at the annual PayStream ePayables Summit.
"Our board was impressed with The Children's Place's commitment to reducing manual processes and cutting down lost invoices and late payments in their accounts payable department and the steps they took to actively eradicate paper invoices," said PayStream Advisors' Managing Director Henry Ijams.
The award was presented to Vice President of Business Process Improvement at The Children's Place, Paul Santini, during an awards luncheon with over a hundred of his accounts payable and accounting peers.
"We quickly recognized the need to automate the accounts payable process in order to increase efficiencies, reduce costs, and ensure timely payments," said Santini.
To achieve their automation goals, The Children's Place selected ASPEN 360 Accounts Payable Edition from Archive Systems. ASPEN 360 is a subscription-based service that automates AP processes by combining industry best practices with ZeroTouch AP imaging and workflow.
"We selected ASPEN 360 because it offers more robust AP features than other solutions, integrates with Lawson, and is provided as a Software-as-a-Service solution. We don't have to worry about purchasing new software or hardware, and our managers can securely access the information they need via the Web," Santini added.
Many innovative financial managers are now recognizing accounts payable automation as an area offering significant potential for not only generating bottomline improvements but also greater ability to monitor and manage spend, strengthen working capital positions, and build stronger trading relationships. PayStream Advisors' research suggests that these forces have sharply increased organizations' interest in automation solutions, which streamline and optimize AP operations to deliver both operational and strategic benefits.
About ASPEN 360 Accounts Payable Edition
ASPEN 360 Accounts Payable Edition automates AP processes by combining industry best practices with ZeroTouch™ imaging and workflow. This on-demand solution dramatically increases staff productivity, enabling AP departments to handle growing invoice volumes without adding people or reassigning resources. It overcomes this automation resistance by integrating the Invoice Virtualization Center with Straight Through Processing, ZeroTouch processing, and enhanced exceptions handling. For more information, please visit www.archivesystems.com/aspen360/APedition.asp.
About Archive Systems, Inc.
Archive Systems delivers products and services that enable organizations to manage paper and digital documents. The company provides a bridge to a paperless future by uniting traditional records management services with cloud-based Virtual File Room technology. Records management services range from physical records storage and secure document shredding to digital document conversion services and on-demand Virtual File Delivery. Archive Systems' flagship document management platform, ASPEN 360, automates and optimizes complex document-based processes, and manages the flow of work throughout an organization. ASPEN Accounts Payable automation combines AP best practices with ZeroTouch AP imaging and workflow. Additional ASPEN Virtual File Room applications support document centric areas such as human resources, vendor management, and contract and lease management. These technologies, combined with Archive Systems document services, capture, store, route, and archive documents online – improving efficiency and accuracy while lowering costs. Archive Systems is changing the way the world manages documents. For more information, please visit www.archivesystems.com.
About PayStream Advisors
PayStream Advisors is a financial automation research and consulting firm with specific objectives of lowering the risk associated with automation decisions through objective analysis, in-depth research, and client-specific recommendations. PayStream Advisors delivers unbiased, third-party market trend information, assessments of financial automation technology and innovative ideas to business leaders in accounts payable, accounts receivable finance and treasury consumer billing, and healthcare. For more information about PayStream Advisors, please visit www.paystreamadvisors.com.
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