HUNTINGTON BEACH, Calif., Dec. 1, 2004 (PRIMEZONE) -- Quintek Technologies, Inc. (OTCBB:QTEK) announced today that its QSI division, a North American provider of Business Process Outsourcing (BPO) services, is now positioned to begin offering an automated accounts payable solution to process invoices. This service will provide cost savings and increased efficiencies to clients in many industries, giving QSI a broad based program to expand its offerings and grow its customer base.
This new capability is a response to the growing trend towards companies implementing imaging and workflow solutions to increase efficiencies and reporting standards, which is a direct result of the emphasis on cost containment and Sarbanes-Oxley compliance.
Bob Brownell, President of QSI stated, "QSI can now implement a streamlined end-to-end accounts payable solution that includes inbound mail handling, document capture, data capture, web hosting of images and automated workflow. With the recent accelerated focus on regulatory compliance and cost reduction, QSI is experiencing a significant demand for our services and solutions, which include a combination of document capture, data capture and rules based workflow."
The Imaging and Workflow Automation (IWA) solutions benefit accounts payable departments by addressing the two main obstacles in a streamlined invoice management process: Capturing information from invoices that vary in their formats and structures; and managing the invoice approval process with control and visibility. The unique aspect of these projects is the company-wide routing and approval process of critical vendor invoices. This process streamlines efficiency, reduces labor costs and capitalizes on all vendor payment discounts.
Brownell added, "QSI has just been selected by a major international chemical company to configure a complete end-to-end solution by approaching IWA from both a Business Process Management (BPM) perspective, as well as from the direction of Enterprise Content Management (ECM)."
About QSI
QSI delivers Business Process Outsourcing (BPO) services and Information Lifecycle Management (ILM) solutions to document intensive industries such as government, public utilities, healthcare, insurance, financial, legal, telecommunications and manufacturing. The solutions and services the Company provides enable organizations to secure and manage their information and document business processes more efficiently. The Aberdeen Group, a provider of IT market intelligence, forecasts 13 percent annual growth for the BPO industry through 2005, when the market is projected to reach $248 billion.
"Safe-Harbor" Statement Under the Private Securities Litigation Reform Act of 1995
This press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including statements regarding potential sales, the success of the company's business, as well as statements that include the word "believe" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Quintek to differ materially from those implied or expressed by such forward-looking statements. Such factors include, among others, the risk factors included in Quintek's Annual Report on Form 10-KSB for the fiscal year ended June 30, 2004 and any subsequent reports filed with the SEC under the Exchange Act. This press release speaks as of the date first set forth above and Quintek assumes no responsibility to update the information included herein for events occurring after the date hereof. Actual results could differ materially from those anticipated due to factors such as the lack of capital, timely development of products, inability to deliver products when ordered, inability of potential customers to pay for ordered products, and political and economic risks inherent in international trade.