Citizen Watch Company Selects I-many Deductions and Collections Solutions.Business Editors/High-Tech Writers PORTLAND, Maine--(BUSINESS WIRE)--Feb. 18, 2003 World's Largest Watchmaker to Utilize I-many Solutions with Custom Developed ERP (Enterprise Resource Planning) An integrated information system that serves all departments within an enterprise. Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer. System to Execute More Effective Deduction and Collection Strategies I-many, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : IMNY IMNY Internet Marketers of New York ), the leader in enterprise contract management and trade management solutions, announced today that Citizen Watch Company of America has selected the I-many deductions and collections solutions, enabling the company to better manage accounts receivable accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying exceptions. "The I-many deductions and collections solutions will allow us to coordinate deduction resolution and collection strategies from a single software platform for our major and independent accounts," said Danita Grimes, National Credit Manager with Citizen Watch. "This integrated approach will give us the ability to report collections and deductions metrics on a timely basis to more effectively manage accounts receivable and help drive increased profitability." "Citizen Watch required a solution to automate its deduction management processes as well as to provide robust reporting capabilities," said Mark Smith, Vice President and General Manager of Industry Solutions at I-many. "I-many satisfies those requirements, enabling Citizen Watch to streamline processes while implementing comprehensive deduction management portfolio strategies. The company will also be able to include both internal and external partners in the deduction management process to help compress the resolution timeline." About the I-many Deductions Solution The I-many deductions solution works in real time with enterprise resource planning See ERP. (application, business) Enterprise Resource Planning - (ERP) Any software system designed to support and automate the business processes of medium and large businesses. (ERP) and other essential back-office systems to speed deduction resolution through the use of automated, user-defined action steps and provides detailed deduction reporting and tracking. About the I-many Collections Solution The I-many collections solution is an integral part of the I-many enterprise contract management solutions suite. It improves cash flow and reduces 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. ) by streamlining and automating collections processes. The solution is web-based and optimized for global organizations that can benefit from user-defined workflows. Because disputed invoices are often the result of non-compliance with contractual terms and conditions, I-many's enterprise contract management solution can be integrated with its collections solution to reduce the number of accounts sent to collection by validating invoices and ensuring billing accuracy. About I-many I-many (NASDAQ: IMNY) is the leading provider of enterprise contract management and trade management solutions. The company's solutions automate contracting processes, ensure contract compliance and track contract performance resulting in higher contract revenues and reduced operating costs operating costs npl → gastos mpl operacionales . More than 250 life science, consumer goods consumer goods Any tangible commodity purchased by households to satisfy their wants and needs. Consumer goods may be durable or nondurable. Durable goods (e.g., autos, furniture, and appliances) have a significant life span, often defined as three years or more, and , food service and manufacturing companies use I-many solutions. For more information, visit the company at http://www.imany.com. This press release may contain forward-looking statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the future performance of I-many, Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from expectations. These risks and uncertainties include the customary uncertainty associated with large software implementation projects and other risks described in I-many's filings with the Securities and Exchange Commission. All trademarks are the property of their respective owners. |
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