170 Systems Announces New Solution to Automate the Expense Reporting Process
170 MarkView Expense Management Saves Time and Cuts Costs By Streamlining Expense Reporting and Eliminating Potential Accounting Liabilities
CAMBRIDGE, MA - September 15, 2003 - 170 Systems, Inc., a leading provider of document management and business process management software for Global 1000 enterprises, today announced the new 170 MarkView™ Expense Management solution, which automates the management of expense receipts. Using the expense management functionality, companies can add additional value to their existing ERP investments and further streamline their critical accounting applications for immediate results by saving on processing time, document transport, document storage and audit costs.
The 170 MarkView Expense Management solution seamlessly integrates with Oracle Internet Expenses and Oracle Payables. By providing the automatic capture of receipts via bar code, the solution enables employees, managers and Accounts Payable specialists to intuitively access receipts online from within the familiar Oracle interface. Delays and costs associated with routing paper receipt documents around the enterprise for manager approval are eliminated. Accounting departments can quickly review online receipts without having to locate the paper documents, saving resources and speeding up the accounting and auditing processes. The solution includes support for all expense process features including manager approval, Accounts Payable review, re-submission, short pay, rejection and audit.
"As more employees are deployed in the field and financial accounting regulations continue to tighten, it is critical that companies streamline the expense reporting process to improve efficiency and accurately document and track expenses," said Dave Ellenberger, CEO of 170 Systems. "The new 170 MarkView Expense Management solution can be easily implemented into any Oracle environment in less than 30 business days allowing customers to quickly maximize the efficiency of their expense reporting process for immediate cost savings, while further safeguarding the company during audits."
By bringing the entire expense process online, 170 MarkView Expense Management enables users to review the receipts they have submitted when tracking the status of active and past expense reports. 170 MarkView Expense Management attaches the expense receipts to the invoice created when the expense report is imported into Oracle Payables, enabling Accounts Payable specialists to quickly locate and review receipts after reimbursement, perhaps as part of an audit. This ensures added compliance with new accounting regulations and eases the audit process by eliminating potential liabilities associated with receipt handling, routing, filing, retrieval and review. Lastly, the 170 MarkView Expense Management solution allows administrators to monitor the volume of expense reports in the system and their individual status.
This product release utilizes the Fast Cycle implementation methodology from 170 Systems that enables customers to begin leveraging the efficiencies of the 170 MarkView Expense Management solution within 30 days. The complete solution package, product, services, and infrastructure, are specially priced through the end of the year. In a brief exercise, 170 Systems Professional Services will assist the customer in choosing a number of setup options available to configure the application in accordance with Expense Management Best Practices.
170 MarkView™ is a complete solution enabling businesses to manage all content, regardless of source or original formats, and streamline business processes. It is designed to leverage and extend the functionality of existing enterprise applications, such as ERP/Financials, SRM, Procurement, Order Management, HR and more. The document recognition capabilities in the 170 MarkView System also allow organizations to bring all of their information into their enterprise regardless of original format or input source, including electronic (EDI, XML, etc.) or traditional paper-based documents. 170 MarkView is tightly integrated with the Oracle E-Business Suite applications and is deployed by leading businesses in more than 40 countries worldwide.
About 170 Systems, INC.
170 Systems, Inc. is the leading provider of software products and services designed to dramatically reduce enterprise costs by streamlining the business processes of large ERP systems, such as Oracle E-Business Suite. Since 1990, 170 Systems has provided its customers with products that optimize core business functions, creating cascading cost savings, in areas such as finance, procurement, human resources, and project management. The 170 MarkView solution is deployed in Global 1000 companies, across all major industries.
The company is headquartered in Cambridge, MA. For more information about 170 Systems, contact us at 1-800-788-6170, +1-617-621-0900, +44 20 8323 8016, or visit www.170systems.com.
TRADEMARKS
170 Systems and 170 MarkView are trademarks of 170 Systems, Inc. Oracle is a registered trademark of Oracle Corporation and/or its affiliates. All other trademarks are the property of their respective owners.
