Industry Study Rates iPayables as the Top AP Automation Solution

iPayables InvoiceWorks scores top marks in affordability, quality of offerings and functionality

Dec. 19, 2013 - ALISO VIEJO, Calif. -- Transformation Management Consulting, an independent research

and consulting firm specializing in the payables industry, recently conducted a study comparing all the

major Accounts Payable automation solutions available. It specifically evaluated the affordability,

functionality, number and quality of offerings; as well as the overall automation potential of each

specific solution.

Out of the eight providers evaluated, iPayables scored top marks in several categories including

affordability, functionality and was one of only two solutions that offer dynamic discounting; a key

discount-capture component for businesses who process high invoice volumes.

The purpose of the study and subsequent white paper was “to provide insight relative to the spectrum

of Accounts Payable automation solutions available and to draw some correlations between the level of

automation achievable and the affordability of that solution relative to other platforms providing a

comparable level of automation potential,” said the author.

Transformation Management Consulting broke down the solution providers into two different

categories, those who only support the “front-end” capture, matching, exception management and

routing of the invoices; and those who support a full electronic invoice presentment and payment (EIPP)

suite.

Decision making concerning what EIPP provider to choose can often be a confusing one,” said Ken Virgin

CEO of iPayables. “This study gives clarity as to who the upper-echelon providers are and what

functionalities are available to prospective clients.”

A copy of the study, “Exploring the Spectrum of Accounts Payable Solutions” can be viewed by going to

http://pages.ipayables.com/WhitePapers1.html

About iPayables

We’re experts in the automating of accounts payable departments while optimizing workflow and

streamlining the invoicing / payables process. By using our advanced internet invoicing system

(InvoiceWorks®), companies can process invoices electronically, make changes, and can track payments

all while eliminating phone inquiries, data entry, filing and the scanning of documents.

The world’s largest airline, largest grocer, largest restaurant chain and other Fortune 100 companies use

iPayables InvoiceWorks® because of its functionality, flexibility, and unmatched value. iPayables

provides supplier tools for invoice web-entry, file upload, EDI, PO flip and paper invoice capture; which

integrate seamlessly with our robust and dynamic workflow, purchase order matching, dispute

resolution, payment and dynamic discounting capabilities. To learn more about iPayables log on to

www.ipayables.com

About Transformation Consulting LLC

Transformation Management Consulting, LLC specializes in helping organizations drive business

transformation efforts across the financial value chain that result in quantum leap improvements in

business operations. With a key focus on Accounts Payable, Supply Chain and Accounts Receivable

Optimization, Transformation Management Consulting, LLC works with companies to maximize cost

reductions and working capital utilization through leveraging process reengineering, enabling

technologies and robust marketing and communication adoption programs to facilitate change.

iPayables Inc. Selected as Business Leader

iPayables Inc. Receives Businesses of the West Award at Ceremony in Orange County California Jan. 16, 2013 - iPayables, Inc. was recognized as one of the top 300 businesses of the West by Business Leaders Magazine. Business Leader’s Magazine reviews businesses based on activities and impact both in their region as well as in their local market. iPayables was recognized at the awards dinner and ceremony held in Orange County California with host speaker Gail Miller of Toshiba. The company was also recognized in Business Leader Magazine which covered the event. Honorees are dynamic small businesses that have exhibited strong financial results, have a positive impact in the local economy and are making a difference in the community. Winners were selected based on one and five year revenue growth, business achievements and community involvement. About iPayables

We’re experts in the automating of accounts payable departments while optimizing workflow and

streamlining the invoicing / payables process. By using our advanced internet invoicing system

(InvoiceWorks®), companies can process invoices electronically, make changes, and can track payments

all while eliminating phone inquiries, data entry, filing and the scanning of documents.

The world’s largest airline, largest grocer, largest restaurant chain and other Fortune 100 companies use

iPayables InvoiceWorks® because of its functionality, flexibility, and unmatched value. iPayables

provides supplier tools for invoice web-entry, file upload, EDI, PO flip and paper invoice capture; which

integrate seamlessly with our robust and dynamic workflow, purchase order matching, dispute

resolution, payment and dynamic discounting capabilities. To learn more about iPayables log on to

www.ipayables.com

iPayables Launches Mobile Application For AP Automation

Electronic invoicing leader adds another element of versatility with the addition of a mobile application Nov. 14, 2013 - ALISO VIEJO, Calif. -- iPayables, a leading provider of electronic invoicing and AP

Automation, recently announced the release of its first mobile application called iPayables Mobile 1.2. The addition of the mobile application, is another step in the organizations’ quest to streamline the Accounts Payable process. iPayables Mobile 1.2 will enable customers to log into iPayables’ highly rated AP Automation solution InvoiceWorks®, from almost anywhere in the world using a smartphone or a mobile device. Features of the new mobile application include allowing approvers to see their work list and invoice details, with the ability to approve or deny purchase orders and invoices from anywhere. The addition of a mobile application to the electronic invoicing process, opens a new level of ease and flexibility for accounts payable professionals who can now view and process invoices; practically from anywhere and at any time. “Today we are less encumbered by constraints of place and time,” said iPayables Chief Technology Officer Jon Titel. “iPayables Mobile 1.2 will enable enterprises to strengthen their workforce and will give them the capacity to review and approve invoices on the move.” The launch of iPayables Mobile 1.2 is yet another initiative in the California-based technology company’s emphasis on further developing its customer experience. iPayables also recently announced the addition of an expanded dynamic discounting (http://www.ipayables.com/#dynamic_discountsContent.html) feature as part of its industry-leading solution InvoiceWorks®. For more information about iPayables and its unique and innovative electronic invoicing and payables solutions, please visit our website at www.ipayables.com. About iPayables We’re experts in the automating of accounts payable departments while optimizing workflow and streamlining the invoicing / payables process. By using our advanced internet invoicing system (InvoiceWorks®), companies can process invoices electronically, make changes, and can track payments all while eliminating phone inquiries, data entry, filing and the scanning of documents. The world’s largest airline, largest grocer, largest restaurant chain and other Fortune 100 companies use iPayables InvoiceWorks® because of its functionality, flexibility, and unmatched value. iPayables provides supplier tools for invoice web-entry, file upload, EDI, PO flip and paper invoice capture; which integrate seamlessly with our robust and dynamic workflow, purchase order matching, dispute resolution, payment and dynamic discounting capabilities. To learn more about iPayables log on to www.ipayables.com

iPayables Set to Launch New Website

Electronic invoicing leader is upgrading its image and marketing capabilities with a new-look website Jul. 1, 2013 - Aliso Viejo, Calif. Today iPayables will be launching a new website and marketing campaign aimed at further disseminating its brand worldwide. The new look site will have a modern interface complete with interactive features including a demo video, live blog, social media and a virtual whiteboard presentation.

iPayables, an industry leader in electronic invoicing and accounts payable automation has been expanding its organization and has a growing number of clients with unique invoicing needs. This expansion warranted a contemporary website which will be a forum for industry discussion and a gateway for current and potential clients to rapidly obtain the information they need. “iPayables’ new website looks great,” said one industry executive who was given a sneak-peek. “The site contains a lot of good information but is not overbearing as some of their competitor’s sites,” he said. “Indeed it is a very clean and navigable website.” The upgraded website will be an outlet for accounts payable managers and other corporate decision makers to discover the great affordability, ROI and progressive functionality iPayables has to offer with its industry-leading products and services. Some of the world’s largest organizations have already chosen iPayables for their invoicing and payables needs due in-part to their forward-thinking approach to payables automation. The marketing and technological expansion demonstrated by the launch of the new website coincides with the physical expansion taking place at iPayables. Not only is the company continuously expanding its client base, it also recently upgraded (http://www.prlog.org/12102776-ipayables-upsizing-corporat...) from its old facility in Lake Forest, California to a larger state-of-the-art corporate headquarters in Aliso Viejo, California. For more information about iPayables and its unique and innovative electronic invoicing and payables solutions, please visit our website at www.ipayables.com. About iPayables We’re experts in the automating of accounts payable departments while optimizing workflow and streamlining the invoicing / payables process. By using our advanced internet invoicing system (InvoiceWorks®), companies can process invoices electronically, make changes, and can track payments all while eliminating phone inquiries, data entry, filing and the scanning of documents. The world’s largest airline, largest grocer, largest restaurant chain and other Fortune 100 companies use iPayables InvoiceWorks® because of its functionality, flexibility, and unmatched value. iPayables provides supplier tools for invoice web-entry, file upload, EDI, PO flip and paper invoice capture; which integrate seamlessly with our robust and dynamic workflow, purchase order matching, dispute resolution, payment and dynamic discounting capabilities. To learn more about iPayables log on to www.ipayables.com

iPayables Upsizing Corporate Headquarters in Move to Aliso Viejo California

The electronic invoicing company is expanding its capabilities by moving to a larger office space in southern Orange County

Mar. 21, 2013 - ALISO VIEJO, Calif. -iPayables, an industry leader in electronic invoicing and accounts payable automation, will be moving from its current company headquarters in Lake Forest, California to a larger state-of-the-art facility in Aliso Viejo, California. “We are excited for our future in Aliso Viejo,” said iPayables’ co-founder and current Chief Technology Officer Jon Titel. “Our new facility allows us to better serve our clients, implement new technological initiatives and will meet our space needs as our company continues to grow,” he said. Company expansion and the addition of new clients have forced iPayables to relocate from its current outgrown facility. iPayables will continue to maintain offices in Orem, Utah where the primary focus is on vendor adoption, technical adaptation / implementation and customer support. As further proof of company expansion, iPayables will soon be launching a new website and a social media and marketing campaign aimed at disseminating its brand worldwide. The company will also be well represented at major industry conferences and trade show events this year including IOFM DC (April 10-12, 2013), the Windy City Summit (May 8-10, 2013), Fusion Orlando (May 19-23, 2013) and IOFM Las Vegas (October 14-16, 2013). About iPayables We’re experts in the automating of accounts payable departments while optimizing workflow and streamlining the invoicing / payables process. By using our advanced internet invoicing system (InvoiceWorks®), companies can process invoices electronically, make changes, and can track payments all while eliminating phone inquiries, data entry, filing and the scanning of documents. The world’s largest airline, largest grocer, largest restaurant chain and other Fortune 100 companies use iPayables InvoiceWorks® because of its functionality, flexibility, and unmatched value. iPayables provides supplier tools for invoice web-entry, file upload, EDI, PO flip and paper invoice capture; which integrate seamlessly with our robust and dynamic workflow, purchase order matching, dispute resolution, payment and dynamic discounting capabilities. To learn more about iPayables log on to www.ipayables.com

iPayables to be a Key Player at Industry Trade Shows

iPayables will be presenting on the Invoice Automation Success of YUM Brands & Jet Blue

Apr. 11, 2013 - ALISO VIEJO, Calif. - iPayables, an industry leader in AP Automation has released their 2013 trade show and industry conference schedule. Foremost among them is the financial operations Industry event called “Fusion el Carnival” in Orlando Florida May 19-23, 2013. At this event, iPayables will be hosting a round-table discussion centered on the electronic invoicing success of YUM Brands and Jet Blue. One of the topics being discussed is how to implement electronic Invoicing and what the parameters are for success. iPayables will also be presenting at the 27th Annual Windy City Summit in Chicago Ill. May 8-10, 2013. At this event, iPayables will discuss “How to Turn your AP Department into a Profit Center,” hosted by Paul Kerins, Executive at iPayables. Other events that iPayables will be attending this year include: IOFM's Accounts Payable Conference & Expo in Washington DC April 10-12 and in Las Vegas Nevada October 14-16, 2013. About iPayables We’re experts in the automating of accounts payable departments while optimizing workflow and streamlining the invoicing / payables process. By using our advanced internet invoicing system (InvoiceWorks®), companies can process invoices electronically, make changes, and can track payments all while eliminating phone inquiries, data entry, filing and the scanning of documents. The world’s largest airline, largest grocer, largest restaurant chain and other Fortune 100 companies use iPayables InvoiceWorks® because of its functionality, flexibility, and unmatched value. iPayables provides supplier tools for invoice web-entry, file upload, EDI, PO flip and paper invoice capture; which integrate seamlessly with our robust and dynamic workflow, purchase order matching, dispute resolution, payment and dynamic discounting capabilities. To learn more about iPayables log on to www.ipayables.com

iPayables Automates Invoicing for the Healthcare Industry

iPayables continues to add healthcare companies to its growing list of clients Feb. 26, 2013 - ALISO VIEJO, Calif. - iPayables, a growing company specializing in electronic invoicing and accounts payable automation, recently added two more healthcare companies as clients in the United States. Both companies will utilize iPayables InvoiceWorks to automate their accounts payable (AP) processes. The service will integrate with their accounts payable systems to bring electronic invoices from suppliers as well as digitized paper invoices from the iPayables service center. Both companies expect dramatic savings. A feature that will be included in the package and is relatively unheard of in the electronic invoicing industry is free vendor adoption and support. “We remain aligned with our customer’s goals as we implement and support the initiative,” said Robert Ripley, COO, of iPayables. “By not charging suppliers and supporting the customer in the supplier adoption efforts, we make sure that our clients have the impact and benefits we promise.”

iPayables works with medium to large accounts payables departments and recently has expanded its clientele to include the Healthcare industry. iPayables already boasts a number of Fortune 100 clients including the world’s largest airline, largest restaurant company and largest grocery chain. For more information about iPayables and its unique and innovative electronic invoicing and payables solutions, please visit our website at www.ipayables.com

About iPayables

We’re experts in the automating of accounts payable departments while optimizing workflow and

streamlining the invoicing / payables process. By using our advanced internet invoicing system

(InvoiceWorks®), companies can process invoices electronically, make changes, and can track payments

all while eliminating phone inquiries, data entry, filing and the scanning of documents.

The world’s largest airline, largest grocer, largest restaurant chain and other Fortune 100 companies use

iPayables InvoiceWorks® because of its functionality, flexibility, and unmatched value. iPayables

provides supplier tools for invoice web-entry, file upload, EDI, PO flip and paper invoice capture; which

integrate seamlessly with our robust and dynamic workflow, purchase order matching, dispute

resolution, payment and dynamic discounting capabilities. To learn more about iPayables log on to

www.ipayables.com

iPayables Introduces New Ad Hoc Reporting Service

iPayables is further optimizing the electronic invoicing process for its clients with the new reporting feature. Dec. 14, 2012 - Los Angeles, Calif. - iPayables Customers now have the ability to quickly and easily

access archived accounts payable data and formulate reports; access to which have been traditionally

limited. With the addition of the Ad Hoc Reporting feature, more reports and more valuable information

can be easily obtained. With Ad Hoc Reporting, users can create any report as simple or as complex as

desired without having to email a query to an IT specialist.

Ad Hoc Reporting enables the user to select what information is needed and formulate a report based

upon the pre-determined criteria; thereby capturing more in-depth data. Several iPayables customers

have recently added the Ad Hoc Reporting feature as part of their electronic invoicing package, including

the world’s largest airline, largest grocer and the largest retail restaurant.

Ad Hoc Reporting also allows users to build their own reports and change existing ones with little

training. It formulates reports while meeting individual information requirements and users can modify

and sift through the data with information analysis. This type of flexibility helps free up valuable IT

resources and disseminates information more rapidly, which is a valuable commodity for larger

organizations.

Ad Hoc Reporting as part of iPayables’ InvoiceWorks, was built with the user in mind. It simplifies invoice

and account data collection and creates a user friendly experience. To learn more about Ad Hoc

Reporting and the other innovative AP automation and electronic invoicing services provided by

iPayables, please visit our website at www.ipayables.com.

iPayables 2012 User Conference

New functionality and products were discussed. Several topics were highlighted including Dynamic Discounting, Vendor Adoption and Card Payments. Jul. 20, 2012 - ALISO VIEJO, Calif. -This week, iPayables held their 2012 User Conference in Dana Point, California. The event gave attendees the opportunity to hear of new functionality and products as well as to participate in open forums. One aspect of the conference was the open forum style where various users could discuss the different ways iPayables InvoiceWorks was used in their organizations. They discussed Change Management strategies and there was quite a wide array of ideas on how best to implement electronic invoicing in large organizations. Vendor Adoption strategies also varied widely, from contractually requiring it and withholding payment from non-compliant suppliers to much softer approaches. A discussion of Ad-hoc reporting allowed users to discuss what reports other companies had created and how they were using the electronic invoicing data, from audit compliance to discount tracking to employee approval times. A discussion of Dynamic Discounting and Card Payments allowed users to compare the mix of payment options other users were using based on their organization’s cash position. The conference concluded with industry break-out sessions where users discussed functionality specific to their industry and added input on what might be beneficial future additions. Here are some comments from attendees:

"It was time well spent." "Extremely beneficial and very informative." "I thought the conference was great and it was nice to have others involved." "I came away feeling very positive and motivated!" "The information you guys provided was very useful and having the opportunity to network with other users of the iPayables system was extremely valuable to me. I hope you know how much we appreciate the support we get from the folks at iPayables, and the value I place on our partnership." About iPayables We’re experts in the automating of accounts payable departments while optimizing workflow and streamlining the invoicing / payables process. By using our advanced internet invoicing system (InvoiceWorks®), companies can process invoices electronically, make changes, and can track payments all while eliminating phone inquiries, data entry, filing and the scanning of documents. The world’s largest airline, largest grocer, largest restaurant chain and other Fortune 100 companies use iPayables InvoiceWorks® because of its functionality, flexibility, and unmatched value. iPayables

provides supplier tools for invoice web-entry, file upload, EDI, PO flip and paper invoice capture; which integrate seamlessly with our robust and dynamic workflow, purchase order matching, dispute resolution, payment and dynamic discounting capabilities. To learn more about iPayables log on to www.ipayables.com

iPayables and Yum Presenting at Fusion 2012

Breakout Sessions at Fusion with iPayables & Yum Brands May 13th - 17th May 11, 2012 - ALISO VIEJO, Calif. -iPayables, Inc., which provides e-invoicing and automation services, and Yum Brands (KFC, Taco Bell, Pizza Hut) will be presenting at The Institute of Financial Operations, Fusion 2012 on May 13th-17th in Nashville Tennessee. Fusion 2012 is one of the premier expos for finance professionals, with a focus on AP and AR automation of electronic invoicing and payments. The expo will include more than 200 educational sessions in 12 tracks. Paul Kerins, VP of Sales from iPayables will be teaming up with Dave Lowe, Senior Manager, Accounts Payable from Yum Brands. Their discussion and presentation will be centered on, "How Yum Brands AP became a Value-Added Department Instead of a Necessary Evil". At the conference, Mr. Lowe will discuss how Yum was able to capitalize on electronic invoicing and automation to get further discounts from suppliers. The presentation will also include a demonstration of the InvoiceWorks software used by Yum and will allow participants to compare notes with Yum to determine how they can achieve the same success. In another breakout session Paul Kerins who has spoken at Fusion for the past 5 years will be speaking on "Building the Internal Business Case for Payables Automation". The focus of the session will center on the various key elements required to build a solid business case, as well as using the business case to gauge success after implementing. About Yum Brands Yum! Brands, Inc., based in Louisville, Kentucky, is the world's largest restaurant company in terms of system restaurants with over 37,000 restaurants in more than 120 countries and territories. Yum! is ranked #214 on the Fortune 500 List and generated revenues of more than $12 billion in 2011. The Company's restaurant brands – KFC, Pizza Hut and Taco Bell – are the global leaders of the chicken, pizza and Mexican-style food categories. Outside the United States, the Yum! Brands system opened approximately four new restaurants each day of the year, making it a leader in international retail development.

iPayables Study Show AP Managers Benefit From AP Automation

Highlights of November Survey Concerning AP Managers Success with InvoiceWorks Jan. 16, 2012 – Lake Forest, Calif. - During the month of November, iPayables did a survey with several of their clients that are using InvoiceWorks. The study focused exclusively on AP Managers and how electronic invoicing and AP Automation impacted them personally. All responses reflected a

positive impact to the AP Manager’s career and stature in their organization. Noteworthy are the following quotes: “Ten years ago the concept that we could ever really eliminate paper invoices (beyond the traditional and very limited, EDI) seemed impossible. When I connected with the iPayables team, together we actually made it happen; it was very well received and got a lot of notice.” “iPayables completely transformed the way invoices are processed within our organization.” “A Huge Positive Impact!” "“provides our vendors and internal customers with the ability to be truly self service” "We no longer operated a paper invoice approval process. We eliminated a need for front end audit and physical signatures to pay an invoice.” “Our department received immediate visibility to the organization and as the benefits of the new system were discovered, we became seen in the most positive light AP has ever experienced. Personally, I believe I was seen by executives and other managers in a positive light as well. I received a promotion after the first year we implemented InvoiceWorks.” CEO, Ken Virgin, commented on the study. “We promise customers that we will lower per invoice costs and strengthen the reputation of their payables department. The study confirms that we deliver.” About iPayables We’re experts in the automating of accounts payable departments while optimizing workflow and streamlining the invoicing / payables process. By using our advanced internet invoicing system (InvoiceWorks®), companies can process invoices electronically, make changes, and can track payments all while eliminating phone inquiries, data entry, filing and the scanning of documents. The world’s largest airline, largest grocer, largest restaurant chain and other Fortune 100 companies use iPayables InvoiceWorks® because of its functionality, flexibility, and unmatched value. iPayables provides supplier tools for invoice web-entry, file upload, EDI, PO flip and paper invoice capture; which integrate seamlessly with our robust and dynamic workflow, purchase order matching, dispute resolution, payment and dynamic discounting capabilities. To learn more about iPayables log on to www.ipayables.comhttp://www.ipayables.com

iPayables Clients Nominated for Best AP Department

Award to be Presented at IOFM's AP Expo 2011 Oct. 5, 2011 – Lake Forest, Calif. - Two iPayables clients have been nominated for the IOFM’s AP Expo 2011 “Accounts Payable Department of the Year”. “Our clients are innovative and care about the productivity and effectiveness of their payables departments. We’re excited to see them recognized for their efforts.” said Ken Virgin, CEO of iPayables.

Awards will be announced at IOFM’s 10th Anniversary Accounts Payable Conference & Expo held in Las Vegas October 19 through 21. The Institute of Finance & Management has a long tradition of identifying and honoring the trendsetters, movers and shakers in the accounts payable profession," said RD Whitney, chief operating officer of IOFM and partner at Greenhaven Partners. "This is a prestigious award, and we take the selection of the winner very seriously. This year's AP Expo 2011 awards luncheon promises to recognize the very best in our field." About IOMA IOMA's Institute of Finance & Management (IOFM) produces the Accounts Payable Conference & Expo by drawing on more than two decades' worth of experience. With highly regarded publications, webinars, training tools and seminars, conferences and more, IOFM is the leading resource for information and tools across its many areas of focus: Corporate Financial Management; Accounts Payable; Credit, Receivables & Collections; and Corporate Security & Safety. Publishers of newsletters such as Controller's Report and Managing Accounts Payables, IOFM is a teeming source year round of news, benchmarks, strategic thought and best practices for budgeting and cost control management research. About iPayables We’re experts in the automating of accounts payable departments while optimizing workflow and streamlining the invoicing / payables process. By using our advanced internet invoicing system (InvoiceWorks®), companies can process invoices electronically, make changes, and can track payments all while eliminating phone inquiries, data entry, filing and the scanning of documents. The world’s largest airline, largest grocer, largest restaurant chain and other Fortune 100 companies use iPayables InvoiceWorks® because of its functionality, flexibility, and unmatched value. iPayables provides supplier tools for invoice web-entry, file upload, EDI, PO flip and paper invoice capture; which integrate seamlessly with our robust and dynamic workflow, purchase order matching, dispute resolution, payment and dynamic discounting capabilities. To learn more about iPayables log on to www.ipayables.com

iPayables Clients High on “Most Innovative” List Information Week 500 Rankings Released With 2 iPayables Clients In Top 15 Sep. 20, 2011 – Lake Forest, Calif. - Take the top 15 most innovative companies (according to the “Information Week 500 Ranking” released last week) and two of them are using iPayables InvoiceWorks for accounts payable automation and electronic invoicing. The InformationWeek 500 ranking is different than some other lists that simply look for the largest IT expenditures; it highlights the power of innovation in information technology by tracking technologies, strategies, investments and administrative practices. “Our clients are innovative,” commented Ken Virgin, CEO at iPayables. “They look to technology to make their businesses better. The accounts payable departments at these firms aren’t fanatics who

believe they are the key to market dominance. They simply take part in that companywide vision of using technology to improve. They’re innovative by culture.” Accounts payable automation has a number of different variations, but in this case, it is the elimination of paper by having suppliers key or upload invoices electronically over the internet. Any suppliers unable or unwilling to submit electronic invoices are given a PO Box to send paper invoices where the invoice becomes electronic. The electronic invoices are matched against purchase orders or routed for approval and paid. Industry benchmarks for invoice processing put the average number of days from receipt to approve at 23 days. In the payables automation examples above the average number of days from receipt to approved for both companies is 3.5 days. Both supplier and buyer have visibility into the progress of the invoice so inquiry calls are reduced and online dispute resolution tools allow issues to be resolved directly between the affected parties rather than putting accounts payable in the middle of it. As one client of payables automation put it, “We don’t do anything anymore, it’s all automated”. As it turns out, it was a little overstated, since they actually moved most of their clerks into an audit function. They still have work to do, just not the work they were doing before automation. The benefits are obvious, but the question remains as to how long it will take for payables automation to become mainstream. The current buyers are very innovative companies actively looking for progressive technology. While most other companies have a desire to automate, the fear of new technology seems to be too large of a hurdle. A survey by iPayables of large US companies that termed themselves “very interested in payables automation” showed that over 60% had had the initiative as a medium or high priority for over two years without pulling the trigger. While betting on the newest technologies can have its risks, in this case, the most innovative companies are reaping the benefits of their courage, while their timid counterparts are stagnating in paper. About iPayables We’re experts in the automating of accounts payable departments while optimizing workflow and streamlining the invoicing / payables process. By using our advanced internet invoicing system (InvoiceWorks®), companies can process invoices electronically, make changes, and can track payments all while eliminating phone inquiries, data entry, filing and the scanning of documents. The world’s largest airline, largest grocer, largest restaurant chain and other Fortune 100 companies use iPayables InvoiceWorks® because of its functionality, flexibility, and unmatched value. iPayables provides supplier tools for invoice web-entry, file upload, EDI, PO flip and paper invoice capture; which integrate seamlessly with our robust and dynamic workflow, purchase order matching, dispute resolution, payment and dynamic discounting capabilities. To learn more about iPayables log on to www.ipayables.com

iPayables Adds Option of New Simplified Implementation

New Process Reduces Cost and Time for Standard Departments Apr. 22, 2011 – Lake Forest, Calif. - iPayables Inc. has recently started using a new e-invoicing implementation procedure for customers. The process enables customers to eliminate upfront costs and

bypasses the need for specialized IT support. The new procedure also allows customers and suppliers to easily interact in an automated fashion. Dave Cheney, Implementation Manager for iPayables explains how it works, "We’ve gathered the most common business processes into a standard implementation, and included self-help configuration screens to assist customers that may need to tweak the standard. This allows for an easier determination of controls and configuration because the business can see the changes as decisions are being made rather than trying to map out a perfect picture before the technical implementation.” “Simplified interfacing options also greatly reduce the minimum amount of IT hours needed to implement. Not only are costs lowered, but time is saved due to fewer IT requirements.” Ken Virgin, iPayables CEO, commented, “While the largest of organizations will still require a more in-depth implementation, the standard, simplified implementation is a great option for businesses that have fairly common practices. They will be able to implement electronic invoicing and payment in about a third of the time and at about a fifth of the cost of a non-standard implementation.” iPayables continues to strengthen and enhance the processes for an e-invoicing system that is one of the most effective electronic invoicing systems in the world. About iPayables We’re experts in the automating of accounts payable departments while optimizing workflow and streamlining the invoicing / payables process. By using our advanced internet invoicing system (InvoiceWorks®), companies can process invoices electronically, make changes, and can track payments all while eliminating phone inquiries, data entry, filing and the scanning of documents. The world’s largest airline, largest grocer, largest restaurant chain and other Fortune 100 companies use iPayables InvoiceWorks® because of its functionality, flexibility, and unmatched value. iPayables provides supplier tools for invoice web-entry, file upload, EDI, PO flip and paper invoice capture; which integrate seamlessly with our robust and dynamic workflow, purchase order matching, dispute resolution, payment and dynamic discounting capabilities. To learn more about iPayables log on to www.ipayables.com

iPayables Presenting at Fusion Orlando May12th

E-Invoice Victory! Simple Secrets to Your Supplier Adoption Plan May 5, 2011 – Lake Forest, Calif. - iPayables, Inc. will be presenting at the 21st annual IAPP Forum and expo, Fusion 2011. Fusion 2011 has partnered with IAPP and IARP accounts payable and accounts receivable organizations, making it the premier expo for finance professionals in AP, AR automation of payments and electronic invoicing. The expo includes more than 200 educational sessions in 18 tracks. Paul Kerins, Vice President of Sales for iPayables, will present information concerning secrets to a robust supplier adoption plan. Achieving fast and effective E-Invoice success can mean the difference between a paper free operation or futility. He will discuss ways in which you can achieve success in your electronic invoicing initiative by having a well planned and executed supplier adoption strategy.

He will also be discussing an array of topics including imaging, workflow and routing, dispute resolution and payment vehicles. Those who attend will learn how to automate their AP functions instead of outsourcing. How to become a more efficient manager with your DPO and how to use dynamic discounting will also be a topic. About Paul Kerins Paul Kerins has served as Vice President of Sales for iPayables for over 6 years. He is well recognized in the e-invoicing industry as the “go to man” for answers on e-invoicing. He has given over 25 speeches on topics such as invoice automation and internet invoicing. Paul’s greatest passion for this industry is defining ways to make Accounts Payable departments more cost effective and relevant in organizations. About iPayables We’re experts in the automating of accounts payable departments while optimizing workflow and streamlining the invoicing / payables process. By using our advanced internet invoicing system (InvoiceWorks®), companies can process invoices electronically, make changes, and can track payments all while eliminating phone inquiries, data entry, filing and the scanning of documents. The world’s largest airline, largest grocer, largest restaurant chain and other Fortune 100 companies use iPayables InvoiceWorks® because of its functionality, flexibility, and unmatched value. iPayables provides supplier tools for invoice web-entry, file upload, EDI, PO flip and paper invoice capture; which integrate seamlessly with our robust and dynamic workflow, purchase order matching, dispute resolution, payment and dynamic discounting capabilities. To learn more about iPayables log on to www.ipayables.com

iPayables Introduces e-Invoice Archive and Reporting

New Archive and Reporting System introduced by iPayables Will Protect system Performance and Authorizes Key Employee Access. Aug. 18, 2011 – Lake Forest, Calif. - Earlier this quarter, iPayables introduced a new online archive product geared specifically towards electronic invoices. The archive allows archive storage of electronic invoices beyond the timeframe associated with active processing of invoices. While the main reason to archive invoices deals with regulatory and audit issues, having a separate and long-term storage of invoices and related data enables a much sought after and complimentary product, Ad-Hoc Reporting. Ken Virgin, CEO, who introduced the new system said, “With the traditional payables automation system, you are limited on the reporting you can do. Transaction processing systems have restrictive parameters that restrict reporting capabilities. In other words, good reporting used to mean a slow system. By introducing online archive, iPayables offers users to the ability to create any report, as simple or complex as desired, with no performance impact on the original system.” iPayables Online Archive is offered as a service, so there is no hardware or large technology effort. “IT departments look like the bad guy for not letting authorized employees get to the data they need, but, in reality, they have to protect the performance of their systems. iPayables Online Archive is an affordable and easy way to protect the system performance while allowing authorized employees the

complex reporting access to data they need.” said Jon Titel, CTO at iPayables. The web interface allows for a simple search of the original invoice and related data (invoice image if applicable, audit trail, approval/processing time stamps and supporting documentation), as well as the more robust ad-hoc reporting capabilities where users can use query tools or even direct SQL queries to create complex reports. Data is archived close to real time, so reporting can be applied for audit or for more current needs such as liability reporting. Because it is web-based and is not user seat priced, any authorized user in the organization can access it and/or export it. Key features I. Secure, Fast and Always Available. Designed to ensure maximum availability as well as excellent performance. Standard backup processes deliver the security and peace of mind that your data will be available when you need it. II. Archive only what is required. With iPayables Online Archiving the data is only kept for the duration of time you request. If internal auditing or regulatory requirements are necessary, you can quickly make the adjustments by eliminating or start retaining those documents whenever needed III. Affordable. iPayables economies of scale and expertise allow for premium features at a reasonable price. About iPayables We’re experts in the automating of accounts payable departments while optimizing workflow and streamlining the invoicing / payables process. By using our advanced internet invoicing system (InvoiceWorks®), companies can process invoices electronically, make changes, and can track payments all while eliminating phone inquiries, data entry, filing and the scanning of documents. The world’s largest airline, largest grocer, largest restaurant chain and other Fortune 100 companies use iPayables InvoiceWorks® because of its functionality, flexibility, and unmatched value. iPayables provides supplier tools for invoice web-entry, file upload, EDI, PO flip and paper invoice capture; which integrate seamlessly with our robust and dynamic workflow, purchase order matching, dispute resolution, payment and dynamic discounting capabilities. To learn more about iPayables log on to www.ipayables.com

"World's Largest Restaurant Company Selects iPayables for Invoice Automation"

International Restaurant Leader Implements iPayables InvoiceWorks Dec. 8, 2010 – Lake Forest, Calif. - The world's largest restaurant company has selected iPayables InvoiceWorks, the 'most effective’ e-invoicing and payables automation solution to handle invoice automation. Utilizing iPayables advanced invoice capture, robust workflow and effective supplier services the company looks forward to increasing Accounts Payable efficiency and capturing a broad array of early pay discounts. It is expected to save over $3 million in the next 3 years. Ken Virgin, CEO of iPayables, commented, “Too many service providers are charging suppliers. If the

customer can save $3.50 by going electronic, but then their automation provider charges the supplier $2.00 in addition to the customer fees, the solution moves from a win-win to a win-lose. There are no savings, just a switch of who’s paying. It has a huge impact on the effectiveness of your e-invoicing solution. That’s why iPayables charges no supplier fees." About iPayables We’re experts in the automating of accounts payable departments while optimizing workflow and streamlining the invoicing / payables process. By using our advanced internet invoicing system (InvoiceWorks®), companies can process invoices electronically, make changes, and can track payments all while eliminating phone inquiries, data entry, filing and the scanning of documents. The world’s largest airline, largest grocer, largest restaurant chain and other Fortune 100 companies use iPayables InvoiceWorks® because of its functionality, flexibility, and unmatched value. iPayables provides supplier tools for invoice web-entry, file upload, EDI, PO flip and paper invoice capture; which integrate seamlessly with our robust and dynamic workflow, purchase order matching, dispute resolution, payment and dynamic discounting capabilities. To learn more about iPayables log on to www.ipayables.com

iPayables Releases Version 8.441

iPayables InvoiceWorks Version 8.441, Enhances Security, Downloading and Id Verification Aug. 11, 2010 – Lake Forest, Calif. - iPayables released InvoiceWorks version 8.441 August 10, 2010. The upgraded version includes new functionality and upgrades to the InvoiceWorks product. The three most notable enhancements are around: Managed Security, Mass Downloads and CASS Address Verification. Managed Security – While InvoiceWorks has always allowed the administrator of a customers’ InvoiceWorks account to manually create distinct and separate security access levels, this functionality has been upgraded to allow the mimicking of ERP security roles. The enhancement also allows users to be assigned to those roles and removed from them whenever needed. It allows for the editing of existing security levels by the customer with complete flexibility to design and manage their account’s access to the utmost detail. In addition, security audit regulation and company preference in limiting and controlling access to invoices has been enhanced. Mass Downloads – Simply stated this allows for the download and printing of invoice attachments in bulk. Instead of printing one attachment at a time or for one invoice at a time this allows for invoices within a criteria to be selected and all the attachments (typically pdfs and supporting docs) to be printed in one mass effect. While iPayables encourages the use of electronic media to reduce paper, we also recognize that some countries still require paper documentation from a legal aspect. CASS Address Verification – Customers can now elect to use verification on vendor and invoice addresses’ against the official addresses that are recorded in the database of the United States Postal Service. This insures address accuracy for ship to information and bill to information to prevent clerical errors.

In regards to the new version, Jon Titel, CTO stated, “iPayables is constantly seeking ways to improve the InvoiceWorks system. Release 8.441 is just one of the efforts in a constant striving, to provide the best electronic invoicing solution.” About iPayables We’re experts in the automating of accounts payable departments while optimizing workflow and streamlining the invoicing / payables process. By using our advanced internet invoicing system (InvoiceWorks®), companies can process invoices electronically, make changes, and can track payments all while eliminating phone inquiries, data entry, filing and the scanning of documents. The world’s largest airline, largest grocer, largest restaurant chain and other Fortune 100 companies use iPayables InvoiceWorks® because of its functionality, flexibility, and unmatched value. iPayables provides supplier tools for invoice web-entry, file upload, EDI, PO flip and paper invoice capture; which integrate seamlessly with our robust and dynamic workflow, purchase order matching, dispute resolution, payment and dynamic discounting capabilities. To learn more about iPayables log on to www.ipayables.com

iPayables Sees Industry Changes

Higher Adoption Rates For E-invoicing Companies Who Don't Charge Supplier Fees Jul. 12, 2010 – Lake Forest, Calif. - iPayables Inc., a leader in electronic invoicing, does not charge suppliers a service fee for submitting invoices. iPayables believes this eases the transition for suppliers into electronic invoicing and produces the highest adoption rates for client’s suppliers; the end result is more electronic invoices and lower overall costs for clients who are processing those invoices. Recently, some European service providers and a couple of US service providers have chosen to add suppliers fees on top of the fees clients already pay for electronic invoicing services. Asked about the move by some industry players to charge suppliers, iPayables CEO Ken Virgin stated, “I believe the competition is trying to maximize their existing revenues at the expense of their client’s success. Clients are usually saving between $2 - $8 per invoice when they move to electronic invoicing. Their main goal should be to get as many suppliers to go electronic as possible. We don’t charge suppliers because we want our client implementations to be as successful as possible.” iPayables boasts an average adoption rate of 3,350 suppliers per customer, more than five times the closest competitor. About iPayables We’re experts in the automating of accounts payable departments while optimizing workflow and streamlining the invoicing / payables process. By using our advanced internet invoicing system (InvoiceWorks®), companies can process invoices electronically, make changes, and can track payments all while eliminating phone inquiries, data entry, filing and the scanning of documents. The world’s largest airline, largest grocer, largest restaurant chain and other Fortune 100 companies use iPayables InvoiceWorks® because of its functionality, flexibility, and unmatched value. iPayables provides supplier tools for invoice web-entry, file upload, EDI, PO flip and paper invoice capture; which

integrate seamlessly with our robust and dynamic workflow, purchase order matching, dispute resolution, payment and dynamic discounting capabilities. To learn more about iPayables log on to www.ipayables.com

iPayables Presents at Fusion 2010

iPayables at 20th Annual IAPP Fusion Expo . E-invoicing Company also exhibited and helped educate AP and AR Professionals to automate their invoicing systems instead of outsourcing May 27, 2010 - Lake Forest Calif. - iPayables, Inc. e-invoicing services, presented at the 20th annual IAPP Forum and expo, Fusion 2010. Fusion 2010 partnered with IAPP and IARP accounts payable and accounts receivable organizations, making it one of the premier expos for finance professionals in AP, AR automation of payments and electronic invoicing. The expo included more than 180 educational sessions in 18 tracks. Paul Kerins, Vice President of Sales for iPayables, presented information on an array of topics including imaging/vendor adoption, workflow and routing, dispute resolution and payment vehicles. Those who attended were taught how to automate their AP functions instead of outsourcing. He also expounded on how to become a more efficient manager with your DPO and go paperless all at the same time. About Paul Kerins Paul Kerins has served as Vice President of Sales for iPayables for over 5 years. He is well recognized in the e-invoicing industry as a “go to man” for answers on e-invoicing. He has given over 25 speeches on topics such as invoice automation and internet invoicing. Paul’s greatest passion for this industry is defining ways to make Accounts Payable departments more cost effective and relevant in organizations. About iPayables We’re experts in the automating of accounts payable departments while optimizing workflow and streamlining the invoicing / payables process. By using our advanced internet invoicing system (InvoiceWorks®), companies can process invoices electronically, make changes, and can track payments all while eliminating phone inquiries, data entry, filing and the scanning of documents. The world’s largest airline, largest grocer, largest restaurant chain and other Fortune 100 companies use iPayables InvoiceWorks® because of its functionality, flexibility, and unmatched value. iPayables provides supplier tools for invoice web-entry, file upload, EDI, PO flip and paper invoice capture; which integrate seamlessly with our robust and dynamic workflow, purchase order matching, dispute resolution, payment and dynamic discounting capabilities. To learn more about iPayables log on to www.ipayables.com