Archive Systems Announces ASPEN 360™ AP-Virtual File Edition

Archive Systems today introduced ASPEN 360 AP-Virtual File Edition, which provides Web-based image hosting and viewing of invoices, expense reports, and journal entries through an affordable, subscription-based document management service. End Quote

(1888PressRelease) September 24, 2008 - Archive Systems, a leading provider of accounts payable automation, today introduced another addition to its suite of ASPEN 360 Accounts Payable solutions – the AP-Virtual File Edition (AP-VFE), which provides Web-based image hosting and viewing of invoices, expense reports, and journal entries through an affordable, subscription-based document management service.

“This is an exciting product for any company that wants to improve its Accounts Payable department right now, but isn’t yet ready to embrace full AP imaging and workflow automation. AP-VFE delivers immediate results. AP departments can sign up and start using the system the same day,” stated Dave Craig, President of Archive Systems. “Think of it; no more lost files, no more endless searching through file cabinets, no more wasted effort tracking down invoice payment information. And you can start using it today because there’s no hardware to install, support, and upgrade, and no software to modify, implement, and maintain.”

AP-VFE takes the invoices, expense reports, and journal entries out of the filing cabinets of the back office and makes them instantly available from any authorized desktop – Internet speed and “e-world” efficiency replaces the “old world” of hand pulling, copying, routing, and refilling countless pieces of paper.

Documents can be scanned, indexed and uploaded into AP-VFE directly by a user. Alternatively, scan, index and upload can be performed by the ASPEN 360 Team at one of their Invoice Virtualization Centers (IVC). Uploaded invoices and expense reports are immediately available for retrieval and reviewing through the AP-VFE’s powerful search engine and comprehensive editor. The editor supports: index entry and modification; annotations; notes; history and audit trail.

“The future of AP processing is crystal clear; it will revolve around paperless invoices and fully automated workflows; but there are practical issues that will determine just how fast each organization adopts this change. Organizations that wish to approach the future at a slightly less aggressive pace will find AP-VFE the perfect next step,” added Mr. Craig.

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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