Innovative new pricing model lets customers pay only for automatically reconciled invoices processed straight through to ERP
Nipendo, a leading provider of Procure-to-Pay (P2P) automation platforms, recently announced three guarantees that will help companies maximize the value of their existing and future investments in P2P technologies.
The First Nipendo Guarantee: 90 Percent+ automated invoice reconciliation:
Automating the entire Purchase-to-Pay process, Nipendo enables leading global enterprises across industries to achieve over 90 percent automated invoice reconciliation with straight through processing to their ERP systems, touch-free and errorless. With a range of free and low-cost options that fit the needs of companies of all sizes, Nipendo removes the barriers to widespread adoption of the solution across the supplier ecosystem. Connecting to the Nipendo platform is quick and simple, with no complex customizations, data mapping, or changes to existing business processes.
The Second Nipendo Guarantee: leverage your existing solutions:
The Nipendo Supplier Cloud platform enables customers to maximize any investments they have made in buyer-supplier connectivity solutions—be it electronic invoicing, OCR, EDI, or a supplier portal—and achieve the next level of P2P process automation and reconciliation with invoices from any of these sources processed straight through in an errorless and effortless manner. By ensuring interoperability with existing solutions, Nipendo allows companies to realize the benefits of advanced P2P automation capabilities without forcing a wholesale replacement of existing infrastructure.
The Third Nipendo Guarantee: pay only for automatically reconciled invoices:
Nipendo has introduced a revolutionary pay-for-performance pricing model that provides companies with the ultimate value guarantee. With this new pricing model, buyer organizations only pay for invoices that are automatically validated based on their business rules, processed straight through to their ERP without any errors, fully reconciled and ready for payment—all without any manual effort.
PayStream research shows that the cost to process an electronic invoice is significantly lower than the cost to process a paper invoice. A reduction in overall processing costs is the top factor driving organizations to migrate away from paper based invoices to electronic invoicing. Survey results show that while paper continues to dominate, electronic invoicing has witnessed an 8 percent increase from 14 percent in 2011 to 22 percent in 2012. PayStream predicts that paper will continue to wane as more companies worldwide make the switch to electronic invoicing to reap the multitude of benefits, including reduced processing costs, increased visibility and quicker processing cycle times, just to name a few.
“Many large enterprises already have some solutions in place to automate supplier communication, but the typical levels of straight-through processing are rather disappointing. Our goal is to help organizations get the most value out of their existing solutions by adding a layer of P2P process automation that is currently lacking. We are excited to extend the same benefits that our existing customers achieved shortly after implementing Nipendo, with over 90 percent of their suppliers on-board and over 90 percent of supplier invoices processed straight through to their ERP, fully reconciled, error-free and touch-free. This level of automation is now an achievable goal for any buyer organization,” said Eyal Rosenberg, Nipendo’s Founder and CEO.
Click here to view the entire Nipendo press release.
To learn more about the benefits of electronic invoicing and Procure-to-Pay automation solutions, download complimentary research reports and white papers at PayStream’s Research Vault.
