Automated, Internet-based payables process for midsize companies reduces costs and streamlines buyer, approver, vendor and employee tasks
BELLEVUE, Wash. - November 24, 2003 - Fidesic Corporation, the leader in automating business critical financial processes for midsize companies, today launched Fidesic Payables - an automated, Internet-based payables process that reduces costs and streamlines buyer, approver, vendor and employee tasks. The company also announced that Cartridges Are Us, Inc., a leading re-manufacturer of ink-jet printer cartridges, selected Fidesic Payables to automate their payables process.
"Cartridges Are Us selected Fidesic Payables because of its ability to automate the invoice data entry process, which translates to significant time and money saved, and allows us to focus resources on other essential areas of our business," said Cartridges Are Us, Inc., CFO and General Manager Dominic Iocco.
"Fidesic Payables for the mid-market allows companies to streamline the traditionally labor intensive day-to-day accounts payable process, resulting in real time and cost savings, as well as strengthened internal controls and vendor relationships," said Fidesic CEO Jon Matsuo.
In the past, the traditional Payables process has led to lost time, money and efficiencies. Countless hours of labor have long-been associated with data entry and storage, routing the paper approval process, dispute resolution, supplier communications, invoice payment and more.
Fidesic Payables Product Features and Benefits Available today, Fidesic Payables integrates seamlessly with nearly any Windows-based accounting system, such as Microsoft Great Plains, Best Software MAS series and Intuit QuickBooks to provide automated, real-time management of the accounts payables process.
Fidesic Payables allows midsize companies to take the entire payables process paperless, save time by eliminating manual tasks, deal with vendors more efficiently using a Vendor Account Center Website, smoothly integrate with existing accounting software and more.
Comprehensive invoice data capture allows companies to:
* Automatically read invoices (including line items) with Optical Character Recognition.
* Document imaging of all invoices with "on-demand" viewing.
* Capture invoice data directly from your accounting system.
* Remotely capture invoice data from employees located anywhere.
* Directly capture invoice data from vendors through a Vendor Account Center Website.
* Issue a PO and allow vendors to "flip" the PO into an invoice.
Role-based approval workflow provides:
* An unlimited number of roles assign permissions and privileges to users involved in key processes, ensuring financial controls are followed for all invoices.
* Parallel, serial and ah-hoc workflow support.
* Graphical workflow, which allows administration by users without IT support.
* Automatic e-mail approver notification with image of invoice.
Invoice Payment features:
* Paper checks or electronic payments.
* Robust business policy support for payment authorization.
* Authorization from nearly any location supported by a web browser.
* Notification to payees of payments via email and customized Website.
* Management of cash flow with "Just-in-Time" payments.
For more detailed product information, please see the Fidesic Payables data sheet at
Security and Privacy:
Keeping customer information secure and private is Fidesic`s highest priority. The company is certified by TRUSTe, whose mission is to build internet users` trust and confidence by promoting the use of fair information practices. All data is encrypted as it passes between customers` browsers and Fidesic servers, and sensitive information is encrypted when stored in Fidesic databases. Fidesic also provides financial controls not available in the manual payment process. For example, banks are provided with a detailed list of check information to make sure fraudulent checks are not honored.
About Fidesic Corporation:
Fidesic Corporation is the leader in automating business critical financial processes for midsize companies. Fidesic is the only company that integrates with midmarket accounting systems to automate the business critical payables, payments, and receivables processes. Fidesic automates all aspects of the day-to-day payables, payments and receivables processes, including invoice receipt and generation, approval, and paper, credit card and electronic payment. Fidesic helps midsize companies reduce costs, improve customer service and vendor relations, increase working capital, gain greater financial visibility, and ultimately make better financial decisions. Fidesic was designated a "Best of the Web" service in the leading financial industry publication Online Banking Report. Located in Bellevue, Wash., Fidesic is privately held and led by CEO Jon Matsuo. For more information on the company and its products and services, call 866-572-9669 or visit the Web site at www.fidesic.com.