Israel Aerospace Industries (IAI) has revealed it is now managing its entire procurement and financial activities with its suppliers in a paperless and automated environment using the Nipendo Supplier Cloud platform.
Over 3,000 suppliers use the platform to electronically exchange over 20,000 documents each month – from RFPs through purchase orders and invoices to payment confirmations – creating an efficient and environmentally-friendly process with saving of up to 50% in operational resources compared to the manual procure-to-pay process previously in place.
This transformation is enabled by the Nipendo Supplier Cloud platform, which allows organizations to electronically collaborate with all of their trading partners while enabling seamless integration with their ERP systems.
The Nipendo platform validates invoices in real-time, allowing suppliers to immediately correct any discrepancies and facilitating an errorless end-to-end process from the supplier to the IAI SAP system. Using the Nipendo platform, IAI suppliers realize significant benefits that include shorter time to payment and complete visibility to invoice and payment approval status.
Suppliers that connect to the Nipendo platform can immediately and simultaneously issue electronic invoices and exchange trading documents with any of the buyer organizations using Nipendo. Over 15,000 suppliers utilize the Nipendo platform to exchange tens of thousands of electronic documents each month, facilitating over $5B in procurement a year.
In addition, suppliers have access to a wide-range of value-added benefits offered by Nipendo’s partners, including invoice factoring, business intelligence capabilities, access to online RFPs, and other related services.
“By electronically receiving and processing over 90% of our supplier invoices, IAI is putting to practice the idea of the paperless organization,” said Gabi Ben-Shlush, IAI Head of Accounting. “This is a true revolution which allows us to improve collaboration with our suppliers, establish efficient and cost-effective supply chain integration, and most importantly, dramatically reduce errors that were caused due to manual interactions along the supply chain.”
Click here to view the entire Nipendo press release.
Mark your calendars to check back in mid-January 2014 for PayStream’s Electronic Invoice Technology Insight report. The report will include a detailed profile on Nipendo’s solution functionality.
