vSync and Blue Moon Industries Announce Remittance Automation for Microsoft Dynamics™ GP

Business Wire, March 6, 2007

Remittance Automation Automates Cash Receipts Processing for Microsoft Dynamics[TM] GP, Allowing Companies to Electronically Capture Allowances and Deductions Against Open Invoices

COLUMBUS, Ohio -- vSync and Blue Moon Industries today announced the availability of Remittance Automation - an electronic bridge enabling Blue Moon's ChargeBack Processing module to electronically receive and manage chargebacks using the EDI Payment Remittance Document (820). Remittance Automation is a key component of GP Advanced Compliance, an integrated product bundle that Blue Moon and vSync launched in 2005. GP Advanced Compliance enables Microsoft Dynamics GP customers to fully automate, and manage supply chain compliance with customers such as Wal-Mart, Target and Lowe's.

vSync, headquartered in Columbus, Ohio, provides EDI and Shipping compliance solutions for Microsoft Dynamics GP, a mid-market ERP solution from Microsoft Corp. "Any supplier that sells to large retailers has to manage chargebacks. We're human, we make mistakes. Unfortunately, when you sell to customers that have established supply chain initiatives, like Wal-Mart or Best Buy, you'll get hit with chargeback fees each time you either make a mistake processing their orders, or for things like promotional expenses, and damaged goods returns," says Bill Knapp, President of vSync.

"Those chargebacks can cost suppliers in excess of 10% to 20% of revenue per year," adds Gary Palardy, President, Blue Moon Industries, a Providence, Rhode Island based developer of Microsoft Dynamics GP solutions, specializing in distribution and supply chain compliance. "We developed our ChargeBack Processing module in 1996 to provide Microsoft Dynamics GP customers with a way to enter and edit customer defined remittance adjustments prior to the posting of cash receipts. By partnering with vSync, we can now provide a chargeback processing solution that fully automates the capture and validation process."

Retailers designate in their supplier agreements a fee schedule of adjustments that will be charged against the supplier's invoice for mistakes like shipping the wrong product, delivering to the wrong address, or for items that are received damaged. In addition, those fee schedules can include expected chargebacks for things like advertising or promotional expenses. The supplier may send an invoice for goods purchased expecting payment in full, but will receive payment for less than what was invoiced due to chargebacks.

"When a supplier receives payment from a customer for less than what was invoiced, the supplier has to be able to account for the deductions before they can close the invoice and mark it as paid," says Palardy. Remittance documents can sometimes have hundreds or even thousands of adjustments, taking considerable time to enter. Using EDI as the enabler, suppliers can now receive a customer's EDI 820 remittance advice document electronically and still take advantage of all the rich functionality of ChargeBack Processing. Time saved can be refocused on collections instead of data entry.

Remittance Automation is available for the GP Advanced Compliance suite of products which includes integration between vSync's EDI module and Blue Moon Industries' ChargeBack Processing module. Both vSync and Blue Moon offer solutions for Microsoft Dynamics GP that provide industry-specific supply chain functionality for manufacturers and distributors in the areas of sales order processing, purchase order processing, fulfillment and shipping.

About Blue Moon Industries

Since 1994, Blue Moon has developed a wide range of products from time-saving enhancements to robust, feature-rich modules, specializing in Distribution, Manufacturing and the Public Sector. The result is a rich history of partner and customer success and an understanding of the distribution and supply chain challenges facing organizations. This expertise helps us create innovative products that introduce new business processes into Microsoft Dynamics[TM] GP. The result is an accurate, streamlined workflow that integrates critical information with the business management solution.

About vSync

vSync provides EDI and Shipping Compliance solutions for Microsoft Dynamics[TM] GP. Using vSync solutions, Microsoft Dynamics GP is enabled to receive, process, and generate customer-required EDI documents. More than just transaction processing, vSync solutions add rules-based processing functions that enable suppliers to track, manage and process customer specific data requirements and processes. vSync extends supply chain functionality with the addition of vShip, a fulfillment and shipping application that is integrated for Microsoft Dynamics GP. vShip enables the capture of container details, pack verification, and shipment rating to streamline the fulfillment process, reduce manual entry of data, and provide customer-specific data required for supply chain compliance.

About Microsoft Dynamics

Microsoft Dynamics is a line of financial, customer relationship and supply chain management solutions that help businesses work more effectively. Delivered through a network of channel partners providing specialized services, these integrated, adaptable business management solutions work like and with familiar Microsoft software to streamline processes across an entire business.