FOR IMMEDIATE RELEASE:
Increased Efficiency in Retrieving and Viewing Invoices with the DocuLogic Solution
Fairfield, NJ (July 28, 2003) - Archive Systems, Inc.,
a leading provider of Web-based hosted imaging and document storage services, announces it
has recently contracted with Cytec Industries Inc. (NYSE: CYT) to provide its unique
combination of document management solutions helping Cytec streamline its business
processes. Archive Systems is initially deployed within the Shared Services Department
to reduce information processing time and increase employee access to business-critical
information.
Cytec recently consolidated its Accounts Payable functions from multiple
regional offices to a centralized location in its West Paterson, NJ headquarters. To
accommodate this transition Cytec was facing potential increased staffing requirements to
handle the in-bound flow of invoice documents as well as to meet the need to respond to
document requests from the regional offices. According to Gary Kawka, Cytec's Director of
Cash Management and Treasury Operations "accessing information by location was painful".
Cytec needed to improve its process in order to deliver better internal customer service.
Using Archive DocuLogic, Cytec's seven domestic regional offices along
with its corporate headquarters office, can now more efficiently retrieve and review several
thousand invoices per week. The need to make phone calls, copies and perform manual filing
functions has essentially been eliminated. "We've gained tremendous business efficiencies"
adds Kawka, who envisions expanding the use of the Archive DocuLogic technology to other
operating departments within Cytec.
The Archive DocuLogic web-based solution has enabled unlimited, instant
access to all paid invoices to Cytec staff in multiple offices throughout the United States.
Through the use of customized search screens, various departments have immediate access to
documentation that previously took days to produce. Verifying and validating vendor payments
are now done instantaneously by end-users. . Without having to purchase hardware, software
or technology of any kind, Cytec gained business continuity and disaster recovery
capabilities that are inherent to the Archive Systems infrastructure.
About Cytec Industries
Cytec Industries is a specialty chemicals and materials technology company with sales in
2002 of $1.3 billion. Its growth strategies are based on developing technologically
advanced customer solutions for global markets including: aerospace, plastics, industrial
coatings, mining, and water treatment.
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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