Lexmark Invoice Capture Service (ICS) Brings Accounts Payable Automation to Microsoft Dynamics NAV Users

LEXINGTON, Ky., Oct. 26, 2015 (GLOBE NEWSWIRE) -- News Facts

• Lexmark today announced the company's Invoice Capture Service (ICS) SaaS solution is now integrated with and available for the Microsoft's Dynamics NAV 2016 enterprise resource planning (ERP) platform, enabling out-of-the-box accounts payable (AP) automation capabilities. Currently serving more than 110,000 users worldwide, NAV is Microsoft's cloud-based ERP offering for the SMB market.
• Lexmark ICS can be activated on a subscription or pay-per-use basis by users, and offers an initial "freemium" model for processing up to 75 invoices per month without charge, helping customers validate their invoice automation goals before committing to its use. NAV users wishing to access ICS can do so from within the NAV interface and at the online store.
• Lexmark ICS delivers invoice capture and processing capabilities on demand, with minimal setup requirements and the scalability needed for all invoice volumes. The solution captures and validates invoice data, replacing manual data entry, to speed invoice cycle times, reduce costs, improve financial visibility, and make content accessible and manageable any time, from any location.
• According to Gartner, nearly half of all businesses plan to adopt some form of cloud-based ERP within the next five years. Forbes reports that SMBs are significantly increasing their investments in cloud solutions, with invoice automation providing a key avenue for immediate process optimization. Offering this via the cloud makes automation-enabled efficiency, visibility and productivity available without the labor and capital commitments associated with on-premise implementations and ongoing maintenance.
• Microsoft Dynamics NAV users will gain immediate benefits from Lexmark ICS, including:
  • Improved data accuracy, as it automatically "learns" to read invoices in numerous formats and eliminates error-prone manual data entry.
  • Better supplier relationships, as faster processing eliminates late payments and facilitates early payment discounts.
  • Enhanced financial controls, as increased visibility minimizes duplicate, erroneous and misplaced payments and allows for better cash management.
  • Consistent user experience, as the solution works within the framework of a familiar ERP interface.
  • Easy setup, as the service is installed and configured within 10 minutes—delivering immediate invoice processing efficiency.
• Microsoft and Lexmark will present the combined solution at Microsoft Directions North America, Oct. 25-28 in Orlando, Fla., and at Microsoft Convergence EMEA, Nov. 30-Dec. 2 in Barcelona, Spain.
• All NAV 2016 users will have immediate access to Lexmark ICS, supporting capture and validation in dozens of languages and currencies. To take full advantage of this solution, users should contact Lexmark, their Microsoft consultant or NAV business partner.

Supporting Quotes

"We're are on a mission to drive down the costs SMB organizations incur in doing business to help them compete more effectively with large organizations. The integration between Microsoft Dynamics NAV 2016 and Lexmark will help our customers do both. We're excited by our collaboration with Lexmark, as we see strong alignment in terms of service capability and future vision," said Paul White, General Manager, Microsoft Business Solutions.

"By providing Lexmark Invoice Capture Service for Microsoft NAV, we equip SMB organizations to quickly and easily automate their AP processes, improving their operations and productivity," said Reynolds C. Bish, vice president, Lexmark and president, Enterprise Software.

About Lexmark

Lexmark (NYSE: LXK) creates enterprise software, hardware and services that remove the inefficiencies of information silos and disconnected processes, connecting people to the information they need at the moment they need it. Open the possibilities at www.Lexmark.com.

Lexmark, the Lexmark logo and Open the possibilities are trademarks of Lexmark International, Inc., registered in the U.S. -and/or other countries. All other trademarks are the property of their respective owners.

CONTACT: Jeremy McNeive jeremy.mcneive@perceptivesoftware.com

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