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ezBackOffice announces availability of ezCash 4.5

BRYN MAWR, PA- May 31, 2003 - ezBackOffice, the application software company, today announced the availability of ezCash release 4.5, a web-based collaborative software solution that enables companies to collect their outstanding accounts receivable faster and more efficiently.

Using web-based technology, ezCash enables finance organizations to accelerate cash flow by dramatically improving their accounts receivable collection process. Company personnel can track collection efforts and share knowledge about an account. Through this collaboration, coordinated actions facilitate faster collections as well as improve customer relations. For example, before speaking with a customer, Sales and Service personnel can remotely review account balances and plan steps to resolve payment or customer satisfaction issues.

Release 4.5 extends ezCash capability to collaborate with third party intermediaries such as brokers or finance companies. Using ezCash, intermediaries can participate in or monitor the collection process for their accounts. This level of visibility improves overall communication between the parties and increases the effectiveness of the collection process.

By reducing accounts receivable, typically measured in Days of Sales Outstanding (DSO), our clients increase working capital and reduce financing costs.

Release 4.5 is underpinned by a database design that incorporates the business logic and rules necessary to track and collect outstanding accounts receivable. Release 4.5 allows browser-based inquiry and update over a LAN / WAN and can operate effectively over 56kb dial-up lines. Product functionality includes visibility to Open Items, Aged Open Items, Cash Receipts, and Deductions for customers, collectors and client-facing personnel. It also includes call tracking, management and follow-up capabilities necessary to quickly resolve outstanding accounts receivable issues.

About ezCash Software

ezCash is a web-based, collaborative software application that enables you to do just what our other clients are doing --- collecting their outstanding accounts receivable faster. By sharing common knowledge about an account, your personnel can better communicate and take coordinated action to not only make collections easier, but also improve relationships with your customers. For more information, visit ezBackOffice on the web at www.ezBackOffice.com, or contact David Sargent at (484) 614-9772.

About ezBackOffice

ezBackOffice (www.ezbackoffice.com) is an application software and services company offering innovative web-based solutions, enabling Fortune 5000 companies to realize significant improvements in their backoffice operations. Our solutions are designed to benefit the medium-to-large size company. Our ezCash credit and collection solution empowers our clients to extract greater value from their accounts receivable operations, significantly lowering their operating expenses and accelerate their cash flow.