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Transcepta Press Release
Transcepta files patents for its innovative virtual printer technology
Leading Provider of Hosted Electronic Invoicing Solutions Helps Streamline Accounts Payable and Accounts Receivable Processes
ALISO VIEJO, Calif., April 30, 2008 Transcepta a leading innovator of hosted electronic invoicing solutions announced that it filed several patent applications with the United States Patent and Trademark Office related to its Virtual Printer technology. The patents disclose deployment of a light vendor interface capable of delivering electronic invoices from an existing billing system without the usual time consuming and expensive integration. According to Transcepta, vendors and buyers who become part of Transcepta’s Electronic Invoicing Community, advantageously streamline invoicing and payment processes to improve back-office efficiency and strengthen customer relationships.
"We have developed an easy-to use, easy-to-deploy electronic invoicing solution that has resonated with our customers," stated Transcepta's chief executive officer, Ray Parsons. "With more than 35,000 active members in our Community, Transcepta's Virtual Printer is a well entrenched technology that has enabled us to not only simplify a problem that plagues all companies today when it comes to electronic invoicing, but also to sustain solid growth in a very dynamic market."
Transcepta designed its electronic invoicing technology to address the needs of the A/P community by providing an efficient solution for on-boarding vendors. While traditional e-invoicing networks unsuccessfully tried to leverage Electronic Data Interchange (EDI) and similar technologies, Transcepta has experienced high vendor adoption of its Virtual Printer.
“One of our customers requested that we use Transcepta to submit invoices in a data format they could consume directly into their A/P system. Transcepta connected to our existing billing system remotely and had everything working in just a couple hours. Plus, we were able to eliminate steps from our existing process and deliver invoices to our other customers via postal mail which freed-up time and reduced the hassle of internal billing,” said Jim Ehrlich, operations director for Pierce Box and Paper. “This time-to-live-operations is key,” explained Parsons. “Vendors do not want to engage in a complex IT project in order to connect with their customers.”
Connie Caigoy, A/R and credit manager for Roland DGA echoed Ehrlich’s comments. She said, "Our customers were asking us for electronic invoices. Transcepta is the best solution for us because of its ease of use and quick install process.”
Analysts also trumpeted the benefits of Transcepta’s technology positioning. “One of Transcepta's key strengths is its ability to implement a solution remotely via the Internet while leveraging a customer's existing invoice. This is particularly helpful for businesses that want to use their current accounting / ERP system but don't want to invest resources on integration,” said Christine Barry, research director, Aite Group.
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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