Avolent's BizCast Wins Transform Magazine's ``Product of the Year 2001'' Award; Increased Industry Recognition for the Company's Enterprise B2B Electronic Invoicing Platform.Business Editors/Technology Writers SAN FRANCISCO--(BUSINESS WIRE)--Dec. 20, 2001 Avolent, Inc., the leading provider of enterprise electronic bill/invoice presentment and payment (EBPP/EIPP) solutions, today announced that BizCast, its leading electronic invoicing platform, is being honored with Transform Magazine's "Product of the Year 2001" award. Transform Magazine's selections are based on product reviews, input from industry analysts and users on the ease of deployment and use, and the overall business impact of the technology. BizCast was selected as the top product in the "Specialized Content Technologies" category. The latest accolades for BizCast further cements its leadership status, following on the heels of a recent Current Analysis study that ranked BizCast 4.0 as the No. 1 business-to-business (B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business ) Internet billing solution. "In our selection of finalists and winners, we looked for innovations in technology and market success," said Doug Henschen, editor-in-chief of Transform Magazine. "We spent the year examining the latest in content and collaboration technology, and we brought many of these products into our lab." "We're extremely proud that yet another respected, independent industry source has recognized the outstanding business value and innovation embodied in our BizCast software platform," said Doug Thompson, 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. at Avolent. "We've worked very hard to ensure BizCast greatly improves the invoice-to-pay process for both suppliers and their business customers. Today, BizCast is the only solution on the market that addresses all of the complex issues associated with invoice reconciliation, customer care, and cash management." Transform Magazine cites Avolent's BizCast as having been "a leading EBPP (Electronic Bill Presentment and Payment) Sending invoices to customers over the Internet. When payment is due, an e-mail is sent with a link to a Web page that contains the billing information and the payment services that are supported. product for some time," and highlights the BizCast Analyze module as an enhancement that lets billers provide customers with customizable, detailed analyses of invoices. The publication further notes that businesses can use the reports and analytics generated by BizCast to better understand their customers. BizCast 4.0 offers significant business benefits and return on investment (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). ) to large suppliers -- especially those in the financial services, healthcare, telecommunications, MRO MRO In currencies, this is the abbreviation for the Mauritanian Ouguiya. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. , and manufacturing markets -- by automating the invoice-to-pay process with business customers of any size. BizCast enables suppliers to dramatically shorten days sales outstanding In accountancy, Days Sales Outstanding is a company's average collection period. A low figure indicates that the company collects its outstanding receivables quickly. Typically it is looked at either quarterly or yearly (90 or 365 days). (DSO See CSO. ) and offer increased levels of service to their customers while lowering the cost of invoicing, reconciliation and payment for both suppliers and their business customers. For more information on Transform Magazine's "Product of the Year 2001" award, please go to www.transformmag.com. About the Companies Transform Magazine Transform Magazine is the definitive publication for business and IT managers implementing content and collaboration products and strategies. It is the only publication that addresses the full lifecycle of corporate content, from capture to management to delivery and storage. CMP CMP (cytidine monophosphate): see cytosine. (1) (CMP Media LLC, Manhasset, NY, www.cmp.com) Part of United Business Media, CMP is a leading integrated media company that offers a wide variety of publications and services in the information Media LLC is a leading high-technology business-to-business multimedia company that provides essential information and integrated marketing services to technology and healthcare professionals worldwide. Avolent Avolent is the leading provider of collaborative enterprise software solutions for electronic bill and invoice presentment and payment (EBPP and EIPP EIPP Electronic Invoice Payment and Presentment EIPP Electronic Invoice Presentment and Payment ) and interactive customer care (ICC ICC See: International Chamber of Commerce ). The company was founded in 1995 and is headquartered in San Francisco, with offices in Colorado and Amsterdam. Avolent's strong customer base spans the financial, insurance and telecommunications industries and includes some of the largest billing organizations and service providers in the industry, including American Family Insurance American Family Insurance Group (aka "AmFam") is a private mutual company which focuses on property, casualty and auto insurance, but also offers commercial insurance, life, health, and homeowners coverage, as well as investment and retirement-planning products. , AT&T, Bluem, Highmark (Blue Cross Blue Shield of Pennsylvania), MasterCard, Spectrum, Unisys, Wells Fargo and YourAccounts.com. For more information call, 415/553-6974 or visit www.avolent.com. |
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