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Transcepta Press Release
Transcepta Gains Momentum with Innovative Electronic Invoice Software Technology
Eco-Friendly Solution Helps Over 25,000 Businesses Simplify Paper-Centric Back-Office Systems Cited as Most Compelling Reasons to Join
ALISO VIEJO, Calif., January, 2008 – Transcepta LLC, the leading innovator of hosted electronic invoicing solutions, today announced that 2007 was marked by solid growth. The company witnessed businesses big and small taking advantage of the company's unique electronic invoicing technology. Through the use of a unique collection of vendors and buyers known as the Transcepta Electronic Invoicing Community, organizations leverage Transcepta's electronic invoicing technology to streamline their invoicing and payment processes for better back-office efficiency and stronger customer relationships.
“Transcepta's core value proposition has been the ability to provide users with an easy-to-use, low-cost alternative to the typically time-consuming, manual intensive paper process inherent in accounting departments and other financial arenas," said Transcepta's chief executive officer, Ray Parsons. "With more than 25,000 companies in our community and currently utilizing Transcepta's technology, the sting of the paper-filled back office is slowly becoming a thing of the past,“ he added.
With Transcepta's Electronic Invoicing Community, a business can be up and running and literally seeing the benefits of being a part of this fast growing collection of buyers and vendors in hours - not days or weeks.
Transcepta's e-Invoicing solution is accessed via the web allowing for a quick, secure and easy deployment that does not require in-house IT resources or upfront capital. Utilizing virtually any accounting system, Transcepta is able to transmit buyer ready invoices for direct import into an A/P process.
Innovative, Cost-Effective Solution
The Transcepta Electronic Invoicing Community is the only e-Invoicing solution that provides value equally to both buyers and vendors. Other solutions force vendors to conduct “EDI like“ integration projects to send invoices or even worse adopt disruptive web submission portals. Transcepta's vice president of product management, Shan Haq, explains, "Vendors don't want to leave their billing system to re-type invoices into a web portal. They also don't have the resources or motivation in some cases to invest in 8 weeks of integration work. The Transcepta solution removes those hurdles to vendor adoption."
Joining the Community is simple. Vendors simply print invoices out of their existing system to the 'Transcepta Virtual Printer' (downloaded off of the Internet). Taking over from there, Transcepta maps, parses, and formats the invoices dynamically in Transcepta's hosted data center. Transcepta then transmits the invoices to the buyer. The buyer receives the invoice in their desired format and can directly import the invoice into an accounts payable system for processing. For vendors seeking additional value, invoices can be sent to other smaller buyers by email, postal mail, or fax. This flexibility enables vendors to outsource the entire invoice send process.
Looking Toward 2008
While 2007 was a year of phenomenal growth domestically, new partnerships promise global expansion for Transcepta in 2008. Additionally, Transcepta will look to strengthen vertical concentration domestically, making an already powerful Community even more effective.
About Transcepta
Transcepta was founded in June 2005 with the mission of creating easy-to-implement, on-demand, electronic invoicing and Electronic Invoice Presentment and Payment (EIPP) solutions for businesses of all sizes. Transcepta offers its services through an online Community, which is a collection of vendors and buyers that leverage Transcepta’s unique electronic invoicing technology to streamline the invoicing and payment process. Thousands of companies have joined the Transcepta Electronic Invoicing Community, which offers cost reduction, efficiency and stronger trading relationships. Transcepta’s online trading community offers quick and easy deployment and does not require in-house IT resources or an up-front capital investment and Transcepta’s technology supports all major accounting ERP systems. Transcepta is located in Aliso Viejo, Calif.
For more information, visit www.transcepta.com.
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