News | January 21, 2009

170 Systems Announces Technology And Sales Agreement With EMC

170 Systems, a worldwide leader in automating Finance processes, recently announced it has signed a technology and sales agreement with EMC Corporation. Under the terms of the agreement, 170 Systems and EMC 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 software and the EMC Documentum enterprise content management products. Additionally, EMC will co-sell the 170 MarkView® 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, with typical payback 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
  • 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. "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 170 MarkView® Financial Suite is proven to improve speed, visibility, costs, and controls while providing the best user experience for all participants in Finance processes. The MarkView Financial Suite is complemented by 170 MarkView Advisor, the industry's first application for financial process performance management and cash flow optimization, 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.

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SOURCE: 170 Systems