The Children's Place Receives Excellence Award for Accounts Payable Innovation
Retailer Implements ASPEN 360 for Accounts Payable Automation

CHARLOTTE, NC, October 15, 2009 /24-7PressRelease/ -- The Children's Place Retail Stores, Inc was honored for excellence in electronic invoicing by research and consulting firm, PayStream Advisors, last week at the annual PayStream ePayables Summit.

"Our board was impressed with The Children's Place commitment to reducing manual processes and cutting down lost invoices and late payments in their accounts payable department and the steps they took to actively eradicate paper invoices," said PayStream Advisors' Managing Director Henry Ijams.

The award was presented to Vice President of Business Process Improvement at The Children's Place Paul Santini during an awards luncheon with over a hundred of his accounts payable and accounting peers.

"We quickly recognized the need to automate the accounts payable process in order to increase efficiencies, reduce costs, and ensure timely payments," said Santini.

To achieve their automation goals, The Children's Place selected ASPEN 360 Accounts Payable Edition from Archive Systems. ASPEN 360 is a subscription-based service that automates AP processes by combining industry best practices with ZeroTouch AP imaging and workflow.

"We selected ASPEN 360 because it offers more robust AP features than other solutions, integrates with Lawson, and is provided as a Software-as-a-Service solution. We don't have to worry about purchasing new software or hardware, and our managers can securely access the information they need via the Web," Santini added.

Many innovative financial managers are now recognizing accounts payable automation as an area offering significant potential for not only generating bottomline improvements but also greater ability to monitor and manage spend, strengthen working capital positions, and build stronger trading relationships. PayStream Advisors' research suggests that these forces have sharply increased organizations' interest in automation solutions, which streamline and optimize AP operations to deliver both operational and strategic benefits.

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