SUNNYVALE, Calif. – August 12, 2003 – Accu-Image, a leading provider of document-management services and software, today announced the release of AP Stream, an automatic invoice verification/approval system that reduces workloads, improves the integrity of accounts payable data and provides real-time tracking of the A/P lifecycle.

AP Stream is ideally suited for companies with $100 million to $1 billion in revenues looking to increase profits with a more efficient use of workforce. It is designed for companies that maintain three to 10 processors and have a large volume of incoming invoices, but neither need nor want to pay for the type of custom DM systems supported by larger enterprises.

The AP Stream routing, reporting and archiving features enhance existing financial applications, provide smooth integration with legacy hardware/software and require minimal IT support

“The formula for higher profitability in today’s business climate is reduced costs, increased efficiency and a competitive advantage that optimizes an enterprise’s resources,” said Darren O'Neill, Vice President of Sales at Accu-Image. “AP Stream achieves all three of these objectives while producing immediate value for companies with its low TCO and substantial ROI.”

AP StreamTM Eliminates Paperwork, Saves Payroll Hours

AP Stream accelerates and tracks the flow of invoices throughout an enterprise by digitally capturing paper invoices and automatically routing them to appropriate personnel for approval. The workflow-process management application immediately notifies buyers when an invoice has arrived and e-mails an image of the document for onscreen approval. It then generates a voucher for payment. Utilizing scan-and-capture technology and an intuitive interface, data and status reports can be accessed from anywhere in the enterprise, when they’re needed, in real-time.

Companies have the option of scanning and indexing invoices in-house with the Accu-Image DVOfficeScan, which processes up to 1,000 pieces of paper per hour, or to outsource the work to Accu-Image, which picks up documents daily or as often as needed for overnight scanning at its 150,000-square-foot processing facility in Sunnyvale, California. In either case, once the invoice enters the database, AP Stream immediately determines whether the invoice needs approval or if it meets the company’s criteria for automatic payment. When the rules trigger an automatic payment, a courtesy notice is sent to appropriate personnel.

Invoices that don’t reconcile with a buyer’s records are rejected and rerouted with comments to A/P staff. The system automatically sends reminder e-mails when no action is taken.

AP Stream eliminates paperwork delays in the A/P cycle, allowing companies to more readily take advantage of prompt-payment discounts and maintain good vendor relations. AP Stream will save payroll hours currently wasted retrieving, copying and faxing documents, or tracking down papers that are misfiled or lost. AP Stream’s archiving system maintains data for as long as it takes to satisfy government auditing rules.

Sarbanes-Oxley Compliance

AP Stream provides a powerful tool for complying with the records management requirements of the Sarbanes-Oxley Act, which mandates accurate reporting on internal controls and financial records. AP Stream lays down an accounting trail that’s up-to-date and completely transparent. The system provides auditors with the ability to see who has approved invoices, and when, for each payment.

About Accu-Image

Founded in 1988, Accu-Image is a pioneer in the field of document imaging. Its mission is to give clients a competitive advantage through automation and streamlining of the paper trail. Accu-Image’s suite of services and software cuts costs, increases efficiency and allows managers to retask personnel performing routine duties. Its flagship product is DejaVIEW (DV), a Windows-based application that has been deployed by several Fortune 100 and 500 companies to enhance operations with automated document retrieval and storage.

To learn more about AP Stream or to arrange a demonstration, contact Accu-Image, Inc., 193 Commercial Street, Sunnyvale, CA 94086. Phone (408) 736-9066. Fax (408) 736-9065. E-mail: sales@accu-image.com. Website: www.accu-image.com.

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