Sunday, November 18, 2007
Friday, November 16, 2007
The 20/20 Rule - Aberdeen Group
On a recent Webinar hosted by Aberdeen Group on the state of Accounts Payable within U.S. businesses, the presenters mentioned what they refer to as the '20/20 rule'. With a per invoice average cost of $21.86, and the time to process an invoice at 19.3 days, many businesses are unaware of the tremendous costs involved, and even more don't realize how automated systems like Inovium's can eliminate many or all of these inefficiencies.
Thursday, November 15, 2007
Looking to streamline your procurement and payment process? Sign up for beta testing now...
If you want to streamline your operations by automating your entire requisition-to-payment process, Inovium is now signing such candidates for a beta test of our newest system, and only three spots remain. The product automates and organization's requisition-to-payment process by providing a detailed workflow ranging from requisition generation to payment administration, including requisition procedures, purchase order approval processes, goods receipt, and electronic payment submission to the vendors. Please note there is NO cost to the party during the beta test.
If you are interested in becoming a beta tester, please send your contact information to toddfrench@inovium.com
If you are interested in becoming a beta tester, please send your contact information to toddfrench@inovium.com
Inovium Introduces a Mobile Payment System Integrated with a Robust Financial Platform
American Banker Online’s Daily Driefing of July 26, 2007 features the following: “Next Frontier for Mobile Services: Integration Though mobile banking and payment systems have been developing separately, executives involved in these efforts say the projects are likely to converge as financial companies push the use of mobile devices as for conducting transactions.”
What distinguishes Inovium’s system from other mobile payment systems on the market is that the Payer need not belong to a member-specific network or payment account – any business can make a payment using our mobile interface in one of two options. Because MobilePay is an integrated feature to Inovium’s full Electronic Invoicing Presentment and Payment (EIPP) program InoviumPay™, the operator can simply select the Payer from the database, enter the amount of the invoice, and submit the payment for processing. Both Invoicer and Payer receive an immediate email confirmation. Another option for the operator when a Payer data file is not present is to simply enter the payment information in full – either e-check or credit card – on the MobilePay interface and complete the transaction.
“Mobile payments are the fastest growing form of high technology payment in this country” reports Joseph Meshi, CEO of Inovium Corporation, “but Inovium believes that users of the system should not be tied down with restrictions and requirements for account membership, restricted software, or have to maintain separate balances in offline accounts to make payment”.
Payments are submitted through Inovium’s own servers over a 256-bit encryption socket, assuring the highest level of security and speed of transmission. Typically funds are available in the client’s account within 24 hours. Because Inovium MobilePay works in tandem with a full EIPP system, the client is able to integrate the data to the client’s existing accounting system for self-population of the Payer files.
Meshi states “Inovium is constantly striving to provide all methods of invoice delivery and payment so that our clients realize the greatest operational efficiencies for their businesses.” “With MobilePay, Inovium now showcases a flexible platform by providing yet another tool in the accounts receivable arsenal available to our clients.”
Inovium’s MobilePay interface was specifically designed for mobile browsers and for wide acceptance across the many available mobile units. The steps required by the operator have been greatly minimized to assure the mobile payments take place quickly and efficiently.
Inovium provides a myriad of advanced, essential billing and payment systems delivered through a Software-as-a-Service model. For more information, contact:
Jules Kaplan at Inovium
888-INOVIUM (466-8486)
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