PORTLAND, Maine and OLD SAYBROOK, Conn., May 2, 2002 -- Clareon Corp., provider of the only bank-neutral, electronic payment solution enabling secure, information-rich, business-to-business transactions, and Infiltrator Systems, Inc., a producer of plastic drainage chambers for septic and stormwater management, announced that Infiltrator Systems has chosen PayMode™, Clareon's business-to-business payment solution, to make secure, electronic payments with detailed remittance information to its suppliers, vendors and service providers.
With PayMode, Infiltrator Systems will strengthen its critical supplier relationships and maximize the efficiency of its accounts payable processes.
"Our selection of PayMode enables us to strengthen our relationships with suppliers by ensuring they receive payment and critical remittance information quickly, efficiently and at a much lower cost," said Bob McHugh, chief financial officer of Infiltrator Systems, Inc. "Clareon's quick integration of PayMode into our accounts payable system also allows us to dramatically lower costs and optimize our financial supply chain by eliminating manual inefficiencies in our disbursement process."
Clareon completed the integration of PayMode with Infiltrator Systems' J.D. Edwards OneWorld Xe ERP system in less than two days and without the use of any of Infiltrator Systems' IT resources. With PayMode, Infiltrator Systems initiates, digitally signs and securely transmits payments and associated remittance information to its suppliers electronically, within its current accounts payable systems environment and workflow. Clareon has also initiated its Accelerated Enrollment Program on the company's behalf to rapidly enable suppliers to receive payments using PayMode.
Infiltrator Systems has set a strategic goal of streamlining and optimizing its supply chain. Clareon's PayMode was selected to quickly and effectively remove paper, cost and process inefficiencies from supplier payments. PayMode enables faster settlement as well as clear visibility into the payment stream, helping to optimize cash and working capital management for both Infiltrator Systems and its more than 1200 suppliers.
"PayMode is a perfect solution for companies like Infiltrator Systems who understand the value of supplier relationships and the need to continually invest in them to build competitive advantage," said Paul Walsh, chairman and CEO of Clareon. "By using PayMode, Infiltrator Systems enhances business performance and creates sustainable value."
About Infiltrator Systems, Inc.
Infiltrator Systems, Inc. is a provider of environmental onsite solutions for wastewater and stormwater management. The company offers the most advanced, environmentally sound chamber products for septic leachfield and stormwater runoff applications and is committed to performance research, innovative system designs and wastewater management education. The company is headquartered in Old Saybrook, Conn. For more information, visit www.infiltratorsystems.com.
About Clareon Corporation
Clareon's market- PayMode™ enables businesses to send and receive electronic payments, along with rich remittance information, to and from suppliers and customers, providing enhanced business performance. PayMode works seamlessly with any bank and integrates quickly and easily with any ERP system or accounting software. Clareon also ensures that its customers realize value quickly by signing up their suppliers, vendors, service providers and customers on their behalf with its proven Accelerated Enrollment Program. For more information on Clareon, visit www.clareon.com.
