Press Release Summary:
Designed for finance managers and executives, 170 MarkView Advisor provides real-time, graphical and interactive monitoring of Accounts Payable processes with ability to intervene immediately to resolve issues. Program combines process information and ERP transactional data to provide integrated, comprehensive view of process performance. With software, managers can remove process bottlenecks, ensure adherence to KPIs or SLAs, and manage cash to benefit short-term and strategic goals.
Original Press Release:
170 Systems Unveils 170 MarkView Advisor
Industry's First Real-Time Financial Process Performance Application Enables Finance Executives to Manage and Optimize Accounts Payable Operations
BEDFORD, Mass., Sept. 15 -- 170 Systems, a worldwide leader in automating Finance processes, today announced the availability of 170 MarkView Advisor, a new financial process performance application specifically designed for Finance managers and executives. Easy to implement and use, Advisor gives managers real-time, graphical and interactive monitoring of critical Accounts Payable (AP) processes with the ability to intervene immediately, if necessary, to resolve potential issues ("bottlenecks," resource distribution, potential controls violations, and others). As a result, Accounts Payable (AP) managers are better able to meet service level agreements (SLAs), key performance indicators (KPIs), and contractual obligations to internal "customers" and suppliers.
"Managers and executives with responsibility for large Finance organizations need an interactive perspective, not just data-filled reports, on operational performance in order to meet day-to-day and process-improvement objectives," said Michael Glim, Vice President of Procurement and Strategic Sourcing, Bank of Montreal. "170 MarkView Advisor has the potential to provide the strategic, integrated intelligence that can make Finance executives much more efficient and effective."
"While there has been substantial investment in Finance process automation, we have long recognized that specific processes in the financial value chain can still be streamlined and improved," said Nigel Rayner, Research Vice President, Gartner Inc. "Managers of Accounts Payable processes need greater visibility into all aspects of their operations to optimize cash management and determine the overall effectiveness of the processes for which they are responsible."
170 MarkView Advisor is the only application in the marketplace that combines process information and ERP transactional data to provide Finance managers with an integrated, comprehensive view of process performance and empowers them to act on any potential issue that's identified. One of 170 MarkView's key features is real-time alerts of critical situations, notifying managers of situations requiring immediate attention and action.
By synthesizing both real-time ERP and process data, 170 MarkView Advisor's intuitive graphical interface provides unparalleled financial process insight and intelligence, and directs Finance managers' attention to areas that may need attention. It enables them to:
-- Remove process bottlenecks, even when the bottlenecks are outside of AP
-- Ensure adherence to key performance indicators or service level agreements with business units and other internal "customers"
-- Optimize the efficiency of AP processors, reducing costs and improving service
-- Effectively manage cash to benefit the organization's short-term and strategic goals
-- Sustain good relationships with suppliers and take full advantage of discount terms by paying early or on-time
"170 MarkView solutions have helped many of the world's largest companies dramatically decrease their invoice processing costs, increase service levels and improve overall Finance cost and performance. Now, with 170 MarkView Advisor these companies will be able to optimize cash resources with discount capture, ability to pay on-time and avoid late-payment penalties, and meet commitments to internal customers and suppliers," said Dave Ellenberger, 170 Systems' President and CEO. "The launch of Advisor reflects 170's continuing commitment to use our deep process expertise to bring to market leadership products that not only optimize day-to-day Finance operations but, perhaps more importantly, are directly aimed at helping businesses achieve their strategic objectives."
170 MarkView Advisor is cost-effective and requires minimal IT involvement or professional services resources.
About 170 Systems
170 Systems develops best-of-breed financial process applications that are the foundation for world-class Finance operations in onshore, offshore, centralized and shared services organizations. Designed to complement the ERP's transactional core, 170 MarkView automates end-to-end financial processes with consistent best practices that leverage the latest capture technologies (imaging, OCR, e-Invoicing and others), reducing operational costs, improving speed, visibility, quality and enforcement of internal controls, while providing the best user experience for all participants in Finance processes (AP processors, line-of-business approvers and Finance Managers). Applications in the 170 MarkView Financial Suite include Accounts Payable, Expense Management, Procurement, Accounts Receivable, Asset Management, General Ledger and Project Re-Billing.
For more information about 170 Systems, please call 781.743.1900 (North America), +44 0208 610 6009 (other regions) or visit http://www.170systems.com/.
170 Systems and 170 MarkView are trademarks of 170 Systems.
CONTACT: Pam Kukla of 170 Systems, +1-781-743-1992, pkukla@170Systems.com
Web site: http://www.170systems.com/