Paymetric, Inc. Acquires Riverside Software, LLC

Houston, October 12, 2004 – Paymetric, Inc. announced today that it has acquired Riverside Software LLC, a privately-held company based in Atlanta, GA. Riverside Software provides the technology that powers MasterCard SmartLink®, the leading SAP-integrated procurement card and expense management solution. Riverside Software, LLC will continue operating as an independent entity under the leadership of Mr. Keith Kreuer, President.

“It is exciting for Riverside Software to be associated with Paymetric,” said Mr. Kreuer. “With the MasterCard SmartLink® solution, Riverside Software helps organizations increase the return on their SAP investment by extracting full value from their procurement card programs and leveraging their supplier relationships.”

Investment in ERP systems has enabled organizations across a broad spectrum of industries to increase their operating efficiency and profitability. But payment processing continues to be dependent on inefficient and costly paper-based invoices and checks. According to research firm Celent Communications, “the purchase-to-payment transaction cycle costs businesses an average of $23 to $33 per invoice.” Many firms have implemented purchase card programs in an effort to reduce procurement costs, but have found that substantial manual effort required to collect, approve, and classify purchase card transactions limits their financial benefit.

MasterCard SmartLink® significantly increases the value of purchase card programs by integrating electronic procurement data and payment transactions with SAP financials. A robust transaction review and approval process leverages native SAP workflows and controls, ensuring that each transaction moves quickly and accurately from purchase all the way to posting in the SAP general ledger and accounts payable ledger. MasterCard SmartLink® combines complete SAP process integration with detailed, timely, and accessible information to enhance process transparency, reduce procurement costs, and improve buyer leverage.

“Riverside Software created the MasterCard SmartLink® solution based on a unique combination of financial supply chain and payment processing knowledge plus SAP expertise,” said Steve Putney, President and CEO of Paymetric. “Riverside Software offers procurement focused payment processing solutions that are a great fit with the card acceptance focused payment processing solutions from Paymetric. Together we offer proven payment card solutions that streamline the procurement and card acceptance processes.”

About Paymetric, Inc.
"Paymetric solutions help transform our customers’ payment processing into an enabling part of their business strategy. By integrating payment card workflows with their native SAP sales, procurement, and accounting operations, our customers are able to reduce their cost structure, mitigate financial risk, improve cash flow, and expand revenue opportunities," commented Steve Putney, President and CEO of Paymetric. “But the factor that has created such powerful customer loyalty is absolute commitment to our customers’ success. We know that each customer contract marks the point at which we have only begun to earn their business.”

About Riverside Software LLC
Riverside Software develops payment card and expense management solutions that streamline the purchase–to–payment process, enhance process transparency, leverage supplier relationships, and optimize your SAP investment. The latest Riverside software solution is marketed by MasterCard International as MasterCard SmartLink®. SAP has accredited the MasterCard SmartLink® solution from Riverside Software with SAP Certified Integration.

MasterCard SmartLink® is a registered trademark of MasterCard International

Contact
www.paymetric.com, info@paymetric.com, (713) 895-2000