Cloud-based Software Leader Releases Update to Its Online Receivables Platform

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Denver, CO, May 19, 2010 – PaySimple, the leading provider of cloud-based, receivables management and payment processing software for small businesses announced today the release of PaySimple 3.0, the latest version of its online platform.

With an abundance of high-priced, license software suites available, large companies have continued to fine-tune and cut costs of their receivables processes by offering customers online services like electronic invoicing, online payment portals, and automated billing. Small businesses, however, have been left behind—many still only accept cash and paper checks. Small to mid-sized companies like law firms, accounting firms, and dental practices are hard-pressed to find ways to contend with larger competitors who offer these services, while also improve cash flow. PaySimple 3.0 features and benefits include:

• Ability to invoice, collect, track, and manage receivables in one user-friendly, online software—saving the time and cost of integrating multiple systems
• Robust payment collection features like recurring billing, electronic invoicing, and customizable online payment forms—included at no additional cost
• Integrated online payment processing functionality, including all major credit card and ACH/echeck acceptance—requiring no manual merchant account integration for the business
• Direct deposit of funds into the business bank account—saving trips to the bank
• Accessibility to PaySimple 3.0 from any computer with an Internet connection—saving the cost of software licenses
• Enhanced reporting and invoice tracking features—providing real-time updates on outstanding payments
• Secure data storage—minimizing the costs and risks to businesses associated with storing sensitive customer information

“We’re extremely excited about this release and PaySimple’s position to fill a gap in the marketplace,” said Eric Remer, CEO of PaySimple. “Small businesses in the services and wholesale sectors really don’t have many options out there when it comes to managing their receivables. There are solutions that send invoices, others that can track them, and yet others to process the payments, but finding a solution that fully integrates this functionality with no setup cost is hard to come by. All of those separate systems mean more cost and less efficiency to the business. We see PaySimple as filling this gap and providing small businesses with the tools they need to better compete.”

PaySimple 3.0 is available today for only $34.95/month plus the cost of transaction fees, and all businesses are eligible to apply. Additionally, anyone may sign up for a PaySimple Free account to preview the PaySimple 3.0 software and try some of the invoicing features at no cost. To learn more, call 800-466-0992 or click http://www.paysimple.com.