Ketera Launches Invoice Management

January 13, 2006; 08:22 AM

 Santa Clara, Calif., January 12, 2005 – Ketera, the leading provider of On Demand Spend Management solutions, today launched Ketera Invoice Management, the industry’s first integrated on demand invoicing application that offers complete visibility into an organization’s cash flow management. This new invoicing solution, combined with Ketera’s comprehensive suite of spend management solutions, creates the first fully-integrated, on demand procure-to-pay solution offering in the marketplace. 

The newest addition to Ketera’s on demand spend management product portfolio, Ketera Invoice Management, enables companies to significantly reduce costs and gain control of critical spend management processes.  Designed to eliminate inefficient, paper-driven invoicing processes through automated and web-based workflow processes, the solution helps both medium and large enterprises more effectively manage their financial assets and their supplier relationships.  And because the solution is on demand, customers can expect to see benefits within a few months of implementation, unlike competitive offerings that can take years to demonstrate ROI.

Specifically, Ketera Invoice Management enables Ketera Procurement users to streamline purchasing and payment processes, as well as leverage supplier contracts for improved performance. Delivered as an on demand solution, Ketera Invoice Management is a cost-effective, easy-to-use and easy-to-deploy solution that can deliver rapid time to value and enhance the overall performance of spend management processes. 

Within the Ketera Supplier Network—a growing directory of more than 750,000 unique suppliers and 15,000 buyers—the Ketera Invoice Management solution can help buyers and suppliers transacting electronically to effectively manage their cash flow with a more robust workflow approval process. As these buyers and suppliers gain visibility into the invoice processing cycle, they become enabled to make more strategic spend management decisions.

“Ketera Invoice Management is the result of our deep understanding of on demand solutions and listening to customers to deliver an application that not only meets their needs, but helps them develop spend management as a core competency to drive significant time and cost savings,” said Steve Savignano, Chairman and CEO of Ketera. “With this new on demand invoicing solution, finance and procurement professionals now have complete visibility and traceability into the entire order-to-cash process, meeting compliance requirements and reducing off-contract spending.”

Key Features and Benefits

Ketera Invoice Management enables customers to:

• Significantly reduce the burden and accounts payable costs associated with manual, paper-driven processes so personnel can focus on core competencies
• Gain a complete, real-time dashboard view into the order-to-pay process to improve financial reporting and meet compliance requirements
• Process invoices faster and more accurately to avoid penalties, duplicate payments, and overpayments
• Easily integrate with the Ketera Procurement solution and existing legacy financial systems
• Improve supplier relations and maximize the use of negotiated contractual agreements  

Pricing and Availability

Ketera Invoice Management is available immediately in all geographies. Pricing is available upon request.

About Ketera

Ketera is the leading provider of on demand, spend management solutions, providing companies with the applications and services needed to control and reduce corporate spending at a low cost of ownership.

Ketera Spend Management includes applications for spend analysis, sourcing, procurement, contract management, supplier performance and payment and reconciliation. The Ketera difference is our on demand delivery model, which combines hosted spend management applications with the “heavy lifting” services required for success, including supplier enablement, hardware infrastructure, project resources, system administration and solution upgrades.

For more information about Ketera and the Ketera Spend Management suite of services, please visit www.ketera.com.