New England retailer aims to eliminate paper, streamline operations by automating payables process
Pleasanton, CA September 11, 2003 New England based Shaw's Supermarkets has selected a solution from electronic invoice and payment solutions Xign to automate its paper-based accounts payable processes.
Shaw's operates throughout New England, with 191 Shaw's and Star Market store locations serving more than four million customers each week and employing approximately 30,000 associates. During the most recently completed fiscal year, total company sales were $4.4 billion.
With supermarkets located in every state of New England, Shaw's was looking for a way to simplify and accelerate the process for approving business expense invoices. Xign said its Xign Payment Services Network, or XPSN, provides an electronic invoice and payment service that automates the core functions of the accounts payable process, including invoice receipt, validation, routing, dispute management, approval and payment.
The Xign e-payables solution will enable Shaw's network of more than 25,000 suppliers to submit invoices and receive payments electronically. With the ability to support multiple enterprise software systems and to expand early payment discount capture opportunities, the XPSN will help Shaw's to eliminate paper and improve supplier relationships, according to the solution provider.
In addition, Xign said that with the XPSN, accounts payable organizations could cut the cost and time of traditional paper-based processes by up to 50 percent and capture all available early payment discounts.
"The XPSN is the only solution that met or exceeded all of our product requirements," said Steve Duarte, manager of accounts payable/check recovery at Shaw's. "As an outsourced solution, it will require minimal IT resources to deploy. I was also impressed with Xign training programs, especially those that will support our supplier enrollment efforts."