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FOR IMMEDIATE RELEASE

 

Company Contact:

Denise Hutchison
Director, New Business Development
949.727.1248
Email: please use contact form

Media Contact:

Lisa McPartland
Marketing Communications
949.727.1248
Email: please use contact form


AMERICAN LAWYER MEDIA STREAMLINES SOLOMON ACCOUNTS PAYABLES
WITH EASE USING DOC-LINK

Laguna Hills, Calif., June 30, 2004 - Altec, a leading provider of document imaging and workflow management solutions for mid-market companies, announced today that American Lawyer Media has selected doc-link to streamline payables processing. American Lawyer Media was founded in 1997 and is the world's leading legal media and information company. American Lawyer Media owns over 35 national and regional legal magazines and newspapers that reach more than 50% of the nations practicing lawyers.

American Lawyer Media needed to automate their accounts payable departments. Having eight regional offices running individual accounting processes, seventy-eight remote invoice approvers, and thousands of transactions a month, outdated paper based processes were inefficient and expensive to maintain. In addition, there was a need to improve upon their cash management practices. The company objective was to go to an automated paperless environment and doc-link was the solution. Doc-link also supported a centralized accounting department with all transactions being scanned and routed via workflow to help streamline time consuming processes and eliminate redundancies.

The GL Distribution Stamp was also purchased by American Lawyer Media and allows for remote approvers to electronically route the approved invoices via workflow. Additionally, with doc-link's GL Distribution Stamp, remote approvers can select from a drop down list of GL expense codes and their related description for proper expense allocation. Doc-link 's Event Manager then monitors workflow and notifies the approvers when time sensitive documents are awaiting their review and approval. This functionality reduces cycle time, improves the accuracy of expense allocation, and eliminates lost or misfiled documents.

Doc-link also reduces photocopy expenses, eliminates the time reconciling supporting documents, and overall lessens the time spent with manual paper handling. American Lawyer Media will be reducing wasted time by as much as 30% in some areas, saving them over $500,000 within the first year of using doc-link in their accounts payables department! American Lawyer Media plans on further increasing their return on investment as they expand the use of doc-link into their order entry department

About Altec
Altec is the leader in accounting centric document imaging and workflow management software solutions. Altec enables organizations to unleash the power of their accounting package and enhance productivity and communication among its customers, employees and vendors. Offering a variety of products from customizable paper based documents, to enterprise wide electronic document management, MICR check printing solutions, Print to Mail, Pressure Seal, promotional items and more, Altec can provide you with any business need you may have. Altec is headquartered in Laguna Hills, California with an office in Tacoma, Washington and affiliates nation wide. For more information about Altec, their products, or services, please visit the company's website at
www.altec-inc.com

 
 
 
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