Xign Corporation says that Release 8.0 of its on-demand Order-to-Pay suite enables organizations to proactively capture early pay discounts across all invoices, regardless of method of receipt or transactional strategy. This includes invoices captured through electronic data interchange, imaging systems, and paper.
The latest enhancements include:
o Legacy Invoice Capture. Any invoice posted to the 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.
o Supplier Visibility. Once captured by Xign, suppliers have 24x7 visibility to these invoices through the Xign supplier portal.
o Advanced Discount Capture on Legacy Invoices. Buying organizations can monetize early pay discounts on 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 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 reportedly can reduce their financial settlement costs by more than 50 percent and improve visibility and control for Sarbanes-Oxley compliance.
According to surveys of Fortune 500 companies, Xign says, the savings from early payment discounts can be from five to 10 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," says Tom Glassanos, Xign president and CEO.
Visit www.xign.com for more information.