Fidesic Releases Payables Suite Fall 04

Redmond, WA – October 1, 2004 – Fidesic, the leader in automating business spending processes for midsize organizations, today announced the immediate release of its Fall 04 Payables Suite to all customers. The Fidesic Payables Suite™ is a service for automating vendor and employee payables processes including invoices, check requests, expense reports, and payments. Fidesic Fall 04 delivers richer project and client cost accounting functionality, imaging, storage and retrieval of expense reports and associated receipts, and introduces spend management analytics.

"With dozens of new features, Fidesic Fall 04 continues the Fidesic tradition of providing our customers instant hard-dollar savings through improved spend management and process cost reductions,' said John Toman, director of product management. "Fall 04 extends Fidesic's lead in the area of project-oriented or client-oriented cost accounting, which allows our customers to enjoy even greater cost recovery.'

Fidesic's service model immediately delivers all the benefits of Fidesic Fall 04 to the entire Fidesic customer base at no extra cost. Fidesic Payables Suite includes a variety of modules including Fidesic Payables Imaging/OCR/Verify, Fidesic Expense, Fidesic Workflow, and Fidesic Payment allowing customers to choose the capabilities that best suits their needs.

"Fidesic came through for us again with the Fall 04 release,' said Ann Elliott of Capital Stream, a provider of software and consulting services for commercial banks and finance companies. "Every few months they deliver valuable enhancements that help streamline our payables processes.'

Key enhancements include the ability to scan invoices via fax as well as create, store, and retrieve images of expense reports and their associated receipts. Spend Management analytics provide a means for organizations to gain better visibility into their spending practices and enables them to make better spend management decisions and policies.

"We continue to deliver on our vision to streamline spending processes and improve insight into how midsize organizations manage their spending' said Jon Matsuo, president and CEO. "Enhanced integration with market-leading financial management solutions such as Microsoft Great Plains 8.0 extend the value our customers enjoy from these tightly integrated solutions.'

Key enhancement in Fall 04 include:

Fidesic Payables – Invoice Imaging/OCR Data Entry/Verify

Remote Invoice Scanning: Organizations that process invoices at multiple remote locations can have employees at these locations scan their invoices and have these instantly appear in Fidesic Payables making them available online to everyone regardless of their location. This eliminates cost and time of routing paper invoices to various locations.

Fax Invoice: Organizations can direct their vendors to fax invoices to an always-ready, toll-free fax number where Fidesic Payables converts the fax image into an electronic invoice.
Vendor Payment Notification: Vendors receive an email payment notification when their invoices have been paid thus reducing calls and emails from vendors seeking the status of their invoices.

Microsoft® Business Solutions Great Plains® 8.0 Support: Fidesic Payables now tightly integrates with the newest version of this financial management solution.

Great Plains MDA Support: Support for Microsoft Great Plains Multidimensional Analysis enables organizations to track expenses in greater detail using this powerful capability.

Fidesic Expense

Expense Report and Receipt Imaging: employees can fax their expense reports and associated receipts to an always-ready, toll-free fax number where Fidesic Expense attaches the fax image file to the Fidesic Expense report. This enables managers approving the expense report to view online the associated receipts as well as eliminates the need to store paper receipts for records management purposes.

Enhanced Project-Oriented and Client-Oriented Cost Accounting: Fidesic extends its lead in flexibility and power handling expenses that are project or client related.

Spend Management Reporting: managers can gain insight into spending patterns that lead to making better spend management decisions.

About Fidesic

Fidesic Corporation is the leader in automating business spending processes for midsize organizations. Fidesic automates all aspects of the payables, expense reporting, payments, and receivables processes. Fidesic helps midsize companies achieve instant hard dollar savings through better spend control and process cost reductions as well as improve customer, employee, and vendor relations, increase working capital, gain greater financial visibility, and make better financial decisions.