CyberBills Announces World's First Complete EBPP Solution for Small/Medium-Size Businesses.Business Editors/High-Tech Writers Fall Internet World 2000 NEW YORK--(BUSINESS WIRE)--Oct. 25, 2000 Business Payables Management(TM) Streamlines Accounts Payable by Aggregating All Paper and Electronic Invoices into a Single, Robust Service CyberBills, the 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. Application Service Provider and the first company to offer Total Bill Management(TM) over the Internet, today announced Business Payables Management(TM), the world's first complete electronic bill presentment and payment See EBPP. solution developed specifically for small-to-medium-sized businesses. With this new service, business operators can receive, review, approve, pay and manage all of their invoices via the Internet. CyberBills offers Business Payables Management at its web site, www.apfactory.com, and through channel partners, including Texaco and NetLedger. Several companies have participated in the initial launch, and today CyberBills is making the service widely available. "Business Payables Management is an entirely new solution designed to streamline accounts payable processing time by consolidating all invoices and payment data online in one place," said John Simpson
John Cody Fidler-Simpson CBE (born August 9, 1944), commonly known as John Simpson , 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. of CyberBills. "The service automates several AP functions and gives companies more control over their payables process, enabling them to concentrate on their core business." According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. IDC's Online Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. research director Ian Rubin Ian Rubin (born April 17, 1973 in Odessa, Ukraine) is a Russian former rugby league player. He played the majority of his professional career for both the Sydney clubs in the National Rugby League the Sydney Roosters and the South Sydney Rabbitohs. , "IDC conducted several focus groups for CyberBills among prospective users and their recommendations have been incorporated into this service. They include easy download and upload capabilities with existing accounting packages, a simple user interface, invoice splitting and allocation, and customized reporting capabilities, among others." Business Payables Management interfaces directly with the most popular accounting packages in use today, allowing customers to download and upload accounting data to/from software and financial systems, such as QuickBooks, Peachtree and MYOB "Mind your own business." See digispeak. (chat) MYOB - mind your own business. . Users can create customized reports using various selection criteria, save these reports and/or download them as text/CSV. Texaco Participates In Initial Launch "We believe that Business Payables Management is an extremely useful tool to help retailers standardize the invoice payment process, improve record keeping and increase productivity," said Alex Paidas, eBusiness development manager with Texaco. "We want station managers to focus more attention on the customer and less time on back office accounting functions. CyberBills' business-to-business service will help to deliver what service stations need on a consistent basis." MasterCard RPPS RPPS Remote Payment and Presentment Service RPPS Rockaway Park Philosophical Society RPPS Retropatellar Pain Syndrome RPPS Retired Pay Personnel Systems RPPS River Parish Practical Shooters (Louisiana) Says CyberBills' Service Will Drive EBPP Adoption "In our view, CyberBills' new 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 service will help drive adoption of EBPP and encourage more online transactions," said Cathleen Conforti, vice president, MasterCard Remote Payment and Presentment Service (RPPS). "As a result of the vast connectivity offered through MasterCard RPPS, this total solution is sure to increase both the volume and quality of online transactions involving small businesses." In addition to the capabilities listed previously, Business Payables Management allows users to set approval amount limits by vendor, approve and deny invoices, allocate invoice amounts to general ledger General Ledger A company's accounting records. This formal ledger contains all the financial accounts and statements of a business. Notes: The ledger uses two columns: one records debits, the other has offsetting credits. accounts, adjust credits and discounts, and apply finance charges. This service also provides users with an electronic archiving capability for paper and electronic invoices and performs the necessary sorting, filing and storage of a company's invoice and payment data. The archiving feature enables users to store up to one year of invoice images, bill and payment history on a CD, and provides availability of invoice data for up to 24 months online. CyberBills' primary strategy is to allow companies, such as banks and other financial institutions, to offer this service to customers under their own brand. CyberBills also offers Business Payables Management directly to small and medium-sized businesses. Visit www.apfactory.com for complete details on service descriptions and pricing. About Texaco Operating in more than 150 countries, Texaco and its affiliates explore for and produce oil and natural gas; manufacture and market high-quality fuels and lubricant Lubricant A gas, liquid, or solid used to prevent contact of parts in relative motion, and thereby reduce friction and wear. In many machines, cooling by the lubricant is equally important. products; operate trading, transportation, and distribution facilities; and produce alternate forms of energy for power and manufacturing. As part of its e-business strategy, Texaco has formed strategic alliances with leading technology companies, as well as equity participation in Internet-based companies to facilitate internal efficiencies, improve customer service and add new streams of revenue. For more information on Texaco visit www.texaco.com. About MasterCard MasterCard International has the most comprehensive portfolio of payment brands in the world. More than 1 billion MasterCard, Cirrus and Maestro logos are present on credit, charge and debit cards debit card, card that allows the cost of goods or services that are purchased to be deducted directly from the purchaser's checking account. They can also be used at automated teller machines for withdrawing cash from the user's checking account. in circulation today. An association comprised of 22,000 member financial institutions, MasterCard serves consumers and businesses, both large and small, in 210 countries and territories. MasterCard is the leader in quality and innovation, offering a wide range of payment solutions in the virtual and traditional worlds. With more than 18 million acceptance locations, no card is accepted in more places and by more merchants than the MasterCard Card. In 1999, gross dollar volume exceeded US$727 billion. MasterCard can be reached through its World Wide Web site at http://www.mastercard.com. About CyberBills CyberBills is the leading EBPP application service provider and first company to offer a 100 percent bill management service that allows customers to view, pay, manage and automate all of their bills -- paper or electronic -- online. Founded in 1998 with headquarters in San Jose San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif., CyberBills provides a suite of electronic bill presentment and payment solutions to financial institutions, brokerage firms, credit unions, technology companies and e-commerce portals. This suite of services includes: Pay Anyone, Total Bill Management and Business Payables Management. Under its own brand, CyberBills provides complete back-office support, service customization and technology integration that allow quick and cost-effective market entry. The company handles bills and invoices in any format: paper, E-bills and as input from all of the major software and Biller bill·er n. One that bills, as: a. A clerk who prepares bills. b. A machine used in preparing bills. Service Providers (BSPs) such as billserv.com, Princeton eCom, YourAccounts.com, Avolent, edocs and others. CyberBills also offers its services directly to consumers at StatusFactory.com and business customers at APFactory.com. For more information about CyberBills, visit www.cyberbills.com. IMPORTANT NOTE: This press release contains a number of forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. In particular, statements made concerning Texaco's and CyberBills' expected performance and financial results in future periods are based upon Texaco's and CyberBills' current expectations and beliefs and are subject to a number of known and unknown risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors known to Texaco and CyberBills, among others, could cause Texaco's and CyberBills' actual results to differ materially from those described in the forward-looking statements: adverse technological and other developments; incorrect estimation of technological requirements; inaccurate data; mechanical failures; decreased demand for e-business services; and higher costs, expenses and interest rates. In addition, you are encouraged to review Texaco's latest reports filed with the SEC, including Texaco's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. filed with the SEC on March 24, 2000, which describes a number of additional risks and uncertainties that could cause actual results to vary materially from those listed in the forward-looking statements made in this press release. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion