The online form feature is another example of how we're taking paper out of the AP process. This feature is especially useful to eliminate the headache of managing all those paper-based forms AP departments receive today.
Fairfield, NJ (PRWEB) February 24, 2009
Archive Systems, a leading provider of accounts payable automation, today introduced ASPEN 360 Accounts Payable Edition, Release 9. ASPEN 360, a multi-tenant SaaS-based solution, automates AP processes by combining industry best practices with ZeroTouch™ AP imaging and workflow. Release 9 includes numerous enhancements to dramatically speed up implementation times and the AP process. These include enhancements to the three way matching process and line item matching features, further configurability for the ASPEN 360 Online Form feature, and updates to the user interface screens to continue to improve the end user experience.
"ASPEN 360 Release 9 truly reflects the commitment we've made to our clients, platform, and product. It reinforces how we are focused on providing users with the features and functionality needed to increase efficiencies, streamline processes, and cut costs in AP," stated Dave Craig, President of Archive Systems.
Straight Through Processing has been enhanced. The new release integrates new confidence-level functionality into the three way matching feature, helping AP processors quickly match invoices to PO and receipt line items by visually identifying the potential matches via a confidence percentage rating. This add-on enhancement further promotes the user ownability of ASPEN 360. AP departments can control which invoices are potential candidates for straight though processing from the line items that ASPEN 360 has identified as a match through the designated confidence level percentage. When matches within predefined tolerances are met, ASPEN 360 auto matches the invoice, then completes the transaction, passing the approved invoice data straight through to the ERP system without AP processor intervention. If the predefined tolerances are not met, the AP processor is provided with a list of possible matches to review.
In order to improve exception processing, Release 9 combines aggregate matching with line item matching functionality to give ASPEN 360 clients the capability to further control how the three way match is configured. If a client has invoices that fail the line item matching, they have the ability to use aggregate matching to improve their straight through processing efficiency.
The enhancements to the Online Form feature now allows enhanced configuration of existing online forms like the Check Request and Adjustment Forms. Upcoming releases of ASPEN 360 will incorporate additional online forms which use SmartRouting workflow technology to automatically route the online form and supporting documents based on the configured business rules. The purchase-to-pay process is streamlined because the ASPEN 360 online form technology dramatically speeds up the time needed for approval and payment.
"We continue to expand the AP invoice processing capabilities available in ASPEN 360 Accounts Payable Edition," added Craig. "The online form feature is another example of how we're taking paper out of the AP process. This feature is especially useful to eliminate the headache of managing all those paper-based forms AP departments receive today."
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 http://www.archivesystems.com.
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