OKLAHOMA CITY, OK, March 21, 2005 â Advanced Financial Solutions, Inc. (AFS), a Metavante company, has released Application Service Provider (ASP) versions of its popular Enterprise Report Management (ERM) and Integrated Lockbox (iBox) solutions. The ASP delivery model provides a cost effective, outsourced alternative to acquiring, installing, and managing in-house solutions.
AFS eStor.ERM is an electronic report management system that provides financial institutions instant access to archived documents and reports. AFS eStor.iBox provides a single, integrated platform to process paper and electronic payments for retail and wholesale lockbox transactions.
According to IDC, a leading global market intelligence and advisory firm, the ASP market is a rapidly emerging segment of the computer industry. By 2005, it is projected to reach $24 billion, up from $1 billion in 2000. Enterprise ASP spending at large businesses will reach nearly $13 billion in 2005, up from $693.5 million in 2000.
"For the past two years AFS has been providing its customers with access to ASP-based check image archive and positive pay check fraud detection solutions through our ASP data center," said Gary Nelson, president of AFS. "In response to high customer demand, AFS is adding Enterprise Report Management and Integrated Lockbox processing to its comprehensive suite of ASP offerings."
AFS eStor.ERM provides a powerful document and report archival and research solution that is easy to learn and operate. In addition, access to information through a user-friendly web-browser interface reduces training, on-going administration, and technical support. Continued Nelson, "AFS eStor.ERM is the ideal solution for community financial institutions seeking an image-based solution to handle research, overnight and ad-hoc reports, and various customer service tasks on a daily basis."
AFS eStor.iBox is a remittance processing solution that provides an integrated platform for processing retail and wholesale lockbox transactions, supplemental remittance documents and emerging payment mechanisms such as accounts receivables conversion (ARC), truncation, check image exchange, and substitute checks (image replacement documents). Lockbox service providers will benefit from reduced exception item handling, faster accounts receivables and resolution of disputed amounts, and improved availability of funds and audit control.
"We are seeing more organizations going to the ASP-delivery model as it allows them to place less emphasis on IT operations and focus on business growth," said Nelson. "Reduced support costs, subscription-based pricing flexibility and continuous access to upgrades make the AFS eStor suite of ASP applications an excellent fit for IT departments of any size."