Xign Updates Flagship e-Invoicing Solution

Release 8.0 aims to expand reach of accounts payable automation and working capital initiatives

Release 8.0 aims to expand reach of accounts payable automation and working capital initiatives

Pleasanton, CA — October 5, 2005 — e-Invoicing specialist Xign Corporation has released the latest version of its flagship suite, adding capabilities to help organizations proactively capture early pay discounts across all invoices, regardless of method of receipt or transactional strategy.

Key features in Release 8.0 of the Xign solution include:

  • Legacy Invoice Capture. Any invoice posted to a company's enterprise resource planning (ERP) or financial system of record may now be captured within Xign, regardless of method of receipt. These invoices may be bulk-loaded into the Xign network from the ERP system or captured manually through invoice entry screens.

  • Supplier Visibility. Once captured by Xign, suppliers have 24x7 visibility to these invoices through the Xign supplier portal.

  • Advanced Discount Capture on Legacy Invoices. Buying organizations have the opportunity to monetize early pay discounts on electronic data interchange (EDI), paper and imaged invoices using Xign's discount capture tools and best practices. Discounts may be captured automatically from suppliers with discount terms or dynamically from suppliers wishing to accelerate payments on approved invoices.
Xign said it provides a complete service for managing the electronic transmission of purchase orders, invoices and payments across the Internet. By shifting from paper to an electronic payables process, organizations can reduce their financial settlement costs by more than 50 percent and improve visibility and control for Sarbanes-Oxley compliance, Xign asserted.

In addition, as it accelerates the settlement cycle, Xign said it improves the opportunity to optimize working capital through early payment discount capture. According to surveys of Fortune 500 companies, the savings from early payment discounts can be from five to ten times greater than the savings resulting from process automation.

"The real value of accounts payables automation lies not only in lower transaction costs but in driving earnings and lucrative cash returns on payables working capital," said Tom Glassanos, Xign president and CEO. "Release 8.0 lets our customers expand the reach and impact of their working capital initiatives across all of their payables processes, whether they be EDI, imaging, paper or Web-based."

Additional Articles of Interest

— For more information on the current state of the payment solutions market, see the article "The Analyst Corner: Payment" in the December 2004/January 2005 issue of Supply & Demand Chain Executive.

— Enabling the end-to-end purchase-to-pay process may seem daunting, but the benefits are hard to ignore. Read the best practices article "The Analyst Corner: Payment" by Christopher Sawchuk and Joseph B. Lancaster III of The Hackett Group, in the February/March 2004 issue of Supply & Demand Chain Executive.

— P-cards continue to advance, and e-payables solutions are making headway, but the convergence of the financial and physical supply chains is still a work in progress. Read more in "Enabling the Financial Supply and Demand Chain," in the April/May 2005 issue of Supply & Demand Chain Executive.