Verizon Wireless Aims to Automate Order-to-pay

Signs up to use Xign's on-demand solution to streamline order delivery, invoice processing and payment management

Signs up to use Xign's on-demand solution to streamline order delivery, invoice processing and payment management

Pleasanton, CA — March 21, 2006 — Verizon Wireless is using an on-demand payment solution from Xign to automate its order-to-pay operations, aiming to streamline order delivery, invoice processing and payment management.

The Xign shared supplier network was a significant factor in Verizon Wireless's selection of Xign, according to the solution provider. Suppliers already enrolled in the Xign network account for more than 50 percent of Verizon Wireless's annual spend, mitigating the deployment risk and accelerating the return on investment.

These suppliers — which include small and midsize companies, as well as prominent handset and network equipment providers — can conduct electronic order-to-pay transactions with Verizon Wireless immediately.

Increasing Visibility

Verizon Wireless also cited Xign's on-demand approach and track record of implementations within and outside the communications services sector as important advantages of the Xign solution. Xign's other communications industry customers include Sprint and T-Mobile.

"Xign Order to Pay allows us to eliminate paper, increase visibility into our payables transactions and lower our cost of operations," said Joe Selewicz, Verizon Wireless staff vice president and assistant controller.

Selewicz said that the opportunity to capture more early payment discounts would significantly increase Verizon's return on investment in the solution. "By leveraging Xign's industry experience and Verizon suppliers already in the Xign network, we will achieve our corporate finance objectives quickly and with little risk," he said.

Building Network Value

Tom Glassanos, Xign president and CEO, said that the Verizon customer win would help reinforce Xign's position in the communications services market and help build the value of its shared supplier network.

"With thousands of suppliers already in the Xign network, communications services providers get a significant head-start when launching electronic order-to-pay processing with Xign," Glassanos said.

Verizon Wireless owns and operates a wireless network that serves 51.3 million voice and data customers. Headquartered in Bedminster, NJ, Verizon Wireless is a joint venture of Verizon Communications and Vodafone.

Other companies using Xign's order-to-pay solutions include Bristol-Myers Squibb, MetLife, Payless ShoeSource and RadioShack Corporation.