SAN MATEO, Calif., Nov. 14, 2006 (PRIMEZONE) -- Aceva Technologies, a leading provider of enterprise cash flow performance management software, today announced that Philips Electronics, a provider of medical diagnostic imaging and patient monitoring systems, energy efficient lighting solutions, personal care and home appliances, and consumer electronics, has selected Aceva to streamline accounts receivable processes for its North American Medical Systems business.
With high volume transactions and a commitment to delivering high quality medical solutions and services to its customers, Philips Medical Systems was looking for a better way to manage their complex receivables management process.
"After an extensive review of both best-of-breed and ERP solutions, Aceva had the most advanced features critical to managing our extensive portfolio," said Warren Harber, director of finance of Philips Medical Systems. "The Aceva solution will help us become more effective as we manage our customer relationships, decrease manual processes and costs, and increase our cash flow significantly."
"Philips's steadfast focus on customer relationships and driving continuous process improvements in every part of their organization makes them a true market leader," said Sanjay Srivastava chief operating officer of Aceva. "We are pleased that they have recognized our differentiated offering as best suited for their rigorous requirements."
About Aceva
Aceva Technologies is a leading provider of software solutions for enterprise cash flow performance management. Aceva's solutions directly address quote-to-cash process breakdowns, quality issues, and automation requirements by delivering global financial visibility, continuous business policy monitoring, comprehensive process automation and workflow, as well as robust reporting and analytics. As a result, customers are able to optimize financial performance and working capital, improve operational excellence and customer satisfaction, and comply with internal controls and regulatory requirements.
Headquartered in San Mateo, California, Aceva's customers include Avaya, BP, Chiquita, Honeywell, Network Appliance, and Sprint. For more details, visit www.aceva.com, send email to info@aceva.com or telephone (650) 227-5500.
Aceva is a trademark of Aceva Technologies, Inc. All other trademarks and company names mentioned are the property of their respective owners.