170 Systems Announces 170 MarkView Financial Suite Enabling Global 1000 Companies to Increase Visibility, Control and Cost Savings

Version 5.0 Provides Best Practice Business Process Workflows, Strengthening Internal Controls for Core Financial Functions

Bedford, Mass. (June 13, 2005) - 170 Systems, the leading provider of solutions that transform ERP financial applications into world-class business processes, today announced the release of its 170 MarkView Financial Suite. Delivered as part of the newly-released 170 MarkView 5.0, the Financial Suite provides Global 1000 financial executives with visibility and control over all core financial functions, including accounts payable (A/P), procurement, accounts receivable (A/R), expenses, fixed assets (FA) and general ledger (GL). With this solution, 170 Systems provides a global end-to-end streamlined solution, increasing service-level responsiveness to internal and external customers, while extending cost savings through gained efficiencies.

By polling 170 Systems' Global 1000 customers, the study revealed that enterprises must impose segregation of conflicting duties, enforce approvals and authorizations and implement clear policies and procedures in order to mitigate financial risk, ensure compliance and reduce audit costs. In order to do this cost-effectively, 87 percent of customers cited the need to implement a technology solution that enables ongoing compliance, while 100 percent of respondents agreed that a successful organization must have automated, preventive controls in lieu of manual, detective controls.

"Timely, accurate results are of paramount importance to finance executives. This requires leveraging their ERP investments to integrate their lines-of-business, customers and suppliers into highly efficient, responsive business processes," said Dave Ellenberger, president and CEO of 170 Systems. "With the 170 MarkView Financial Suite, 170 Systems is delivering to financial executives the ability to simultaneously maximize visibility and control over all core financial functions, and reduce transaction processing costs, resulting in significant positive impact to the bottom line."

The 170 MarkView Financial Suite extends the reach of the ERP system, integrating all of the information associated with each transaction and extending the transaction flow to embrace the line-of-business users. Controllers and shared service center executives can leverage 170 Systems' new Financial Suite to:

Maximize cash management by capturing available discounts, eliminating late payment penalties and duplicate payments and reducing cash receipt cycle times;
Reduce transaction processing costs from existing levels to world class;
Fulfill the promise of financial business process automation through workflows that fill in the gaps between ERP processes, creating a "single source of truth;" and
Strengthen internal controls through automated workflows that segregate duties at the transaction level, mitigating financial risk.

"We chose the170 MarkView System to streamline several of our core financial functions because of their experience in imaging, best practice workflows and Oracle integration," said Peter Gee, assistant director of financial services for Ryerson University. "We realized a significant return on our investment by reducing cycle times, enabling the tracking of documents, reducing storage, providing users with image capabilities that assist them with approvals and distribution decisions and management tools to balance workloads and facilitate holds resolutions. The instant availability of all of the information associated with each transaction has greatly improved our controls and audit environment."

Unique and proven capabilities of the 170 MarkView Financial Suite include:

Transactional flow of information across finance functions, for example, A/P to FA to GL, ensuring that managers are provided with all of the information needed to act on each transaction;
Seamless integration with an existing ERP infrastructure, eliminating the need for separate databases and duplication of capabilities, reducing errors;
Enterprise-wide approval framework, leveraging and extending ERP user hierarchies to line-of-business users, customers and suppliers;
Email/Web browser self-service capabilities, enabling inquiries for internal and external customers, as well as the review of transactions, annotation, distribution, amendment and approval; and
Integration of imaged paper and renderings of other unstructured data such as EDI, or electronic invoices, indexed to ERP transaction record, providing a single source of truth.

"Companies today are burdened by the increased cost and energy being dedicated to streamlining business processes while ensuring financial transparency," said Bill Marchionni, director, The Hackett Group, a business process advisory firm. "Clearly automation can play an important role in successfully achieving these objectives, particularly when automation is used to enable proven best practices. When financial automation is done right it can have broad impact, helping streamline business processes, reduce costs, strengthen controls and provide a higher assurance of compliance."

The 170 MarkView Financial Suite is available immediately. For pricing information, call 1-800-788-6170 or 1-781-743-1900.

About 170 Systems
170 Systems, Inc. is the leading global provider of software products and services that capture and manage all of the information associated with core financial functions, transforming them into consistent, automated, "best practices" business processes that ensure sustainable compliance. Combining business process automation and imaging technologies, the 170 MarkView solution provides seamless integration with ERP systems, including the Oracle E-Business Suite and PeopleSoft Financial Management, resulting in significant cost reduction, improved efficiency and enhanced visibility for enterprises.

170 MarkView is deployed by Global 1000 enterprises across a wide range of industries in more than 40 countries. For more information about 170 Systems, please call 1-800-788-6170, +1-781-743-1900, +44 0208 610 6009, or visit http://www.170systems.com.