170 Systems Announces Technology and Sales Agreement with EMC.Customers to Benefit from Integrated Best-in-Class Intelligent Capture, Enterprise Content Management and Finance Process Automation BEDFORD, Mass. -- 170 Systems, a worldwide leader in automating Finance processes, today announced it has signed a technology and sales agreement with EMC Corporation EMC Corporation (NYSE: EMC) is an American Fortune 500 and S&P 500 manufacturer of software and systems for information management and storage. It is headquartered in Hopkinton, Massachusetts, USA. . Under the terms of the agreement, 170 Systems and EMC (1) (EMC Corporation, Hopkinton, MA, www.emc.com) The leading supplier of storage products for midrange computers and mainframes. Founded in 1979 by Richard J. Egan and Roger Marino, EMC has developed advanced storage and retrieval technologies for the world's largest companies. will collaborate to provide the most comprehensive, valuable, and cost effective solution for end-to-end document capture, content management and Finance process automation. As part of the agreement, 170 Systems will now co-sell the EMC Captiva suite of intelligent capture and OCR OCR in full optical character recognition Scanning and comparison technique intended to identify printed text or numerical data. It avoids the need to retype already printed material for data entry. software and the EMC Documentum enterprise content management products. Additionally, EMC will co-sell the 170 MarkView[R] for Accounts Payable software. The move targets Finance and Treasury operations in medium-sized and large companies, which can now leverage EMC's expertise in document capture and content management and 170 Systems' established leadership in high volume invoice processing automation for Oracle and SAP customers. The joint solution from 170 Systems and EMC is expected to deliver a rapid ROI (Return On Investment) The monetary benefits derived from having spent money on developing or revising a system. In the IT world, there are more ways to compute ROI than Carter has liver pills (and for those of you who never heard of that expression, it means a lot). , with typical payback Payback The length of time it takes to recover the initial cost of a project, without regard to the time value of money. in less than 8 months. Specifically, the solution will provide: * The world's leading OCR technology * Best practice workflows * Proven high-volume invoice data and document processing Processing text documents, which includes indexing methods for text retrieval based on content. See document imaging. * Reduced costs and cycle times * Enhanced end-to-end process visibility and performance * Maximized cash from Accounts Payable operations "At EMC, we're committed to delivering content-enabled solutions to help customers solve the complex challenges associated with finance process automation," said Mark Lewis, President of Content Management and Archiving Division at EMC. "By combining the power of EMC's capture and enterprise content management solutions with 170 System's leading financial software suite, we are able to provide a more comprehensive solution that maximizes our customers' IT investments." "Every company today needs to do more with less and derive even greater value and efficiencies from their software and information infrastructure investments," said David Ellenberger, 170 Systems President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "To satisfy this need, we have teamed with the worldwide leader in document capture and enterprise content management, broadening our combined reach to Finance customers and prospects and enhancing their ability to gain operational efficiencies, lower costs and support critical cash flow and revenue objectives." About 170 Systems 170 Systems' best of breed applications automate end-to-end financial processes for world-class Finance operations The execution of the joint finance mission to provide financial advice and guidance, support of the procurement process, providing pay support, and providing disbursing support.See also financial management. . The 170 MarkView([R])Financial Suite is proven to improve speed, visibility, costs, and controls while providing the best user experience for all participants in Finance processes. The 170 MarkView Financial Suite is complemented by MarkView Advisor, the industry's first application for financial process performance management and cash flow optimization optimization Field of applied mathematics whose principles and methods are used to solve quantitative problems in disciplines including physics, biology, engineering, and economics. , and SupplierExpress, an easy-to-implement service for buyers and suppliers that reduces the overhead of supplier interaction and enables on-time and accurate payment with minimal effort. For more information about 170 Systems, please call 781.743.1900 (North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. ), +44 0208 610 6009 (other regions) or visit www.170systems.com. 170 Systems and 170 MarkView are registered trademarks of 170 Systems, Inc. SupplierExpress is a trademark of 170 Systems, Inc. |
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