Network Appliance Achieves Breakthrough Results Using Aceva's Revenue and Receivables Management Suite

Aceva Technologies, a leading provider of enterprise applications for revenue and receivables management, today announced that Network Appliance, a leading provider of enterprise network storage solutions, has reduced DSO by eight days, increased dispute resolution by 25% and passed its recent audit with no material issues through its use of Aceva’s technology during the past year.

“Last year, we challenged Aceva to help us scale our worldwide collections operations, give our team a holistic view of the customer, and ensure we met Sarbanes-Oxley compliance requirements,” stated David Gondorf, senior manager of Worldwide Credit and Collections for Network Appliance. “Aceva fulfilled all these objectives and more. Not only did we free up a significant amount of working capital, we also increased customer satisfaction, and passed our most recent audit with no material issues ? all of which are critical to Network Appliance?s continued growth. I am extremely happy with the results to date.”

Used in Europe, Asia-Pac and the US across 20 countries and in seven languages, additional benefits reaped from the Aceva system include:

Optimized financial performance and cash management

• 27% reduction in past-due A/R

• Eight day reduction in days sales outstanding (DSO)

• Reduced revenue leakage from unearned discounts

Improved operational excellence and customer satisfaction

• 25% faster dispute resolution

• Employee satisfaction and greater focus on value-added tasks

• Better and more responsive management of customer accounts

• Ability to drive toward best practices and continued process improvements

Compliance with internal controls and regulatory requirements

• Tracking and information management to demonstrate SOX compliance

• Consistent enforcement of collections policy and strategy across all regions

• Most recent audit: “No material issues because of collections automation software in place called Aceva.”

“Network Appliance selected the Aceva solution to scale its global cash management operations without having to sacrifice business control or dramatically increase operational costs,” said Sanjay Srivastava, chief operating officer of Aceva. “In a little over a year, Aceva’s technology has already delivered direct, significant, and tangible results to Network Appliances’ bottom line. This underscores our commitment in the industry to catalyze a new generation of collections and cash management technology that corporations can leverage today to achieve significant business results.”