Nipendo Announces First-of-a-Kind ROI Guarantee for E-Invoicing and Procure-to-Pay Automation
Innovative new pricing model lets customers pay only for automatically reconciled invoices processed straight through to ERP
Burlington, MA – September 17, 2013 – Nipendo, the leading provider of Procure-to-Pay (P2P) extreme automation platforms, today announced three industry-first guarantees that will help companies maximize the value of their existing and future investments in P2P technologies.
The First Nipendo Guarantee: 90%+ automated invoice reconciliation
Automating the entire Purchase-to-Pay process, Nipendo enables leading global enterprises across industries to achieve over 90% 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 is introducing 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.
According to a recently published Gartner report (Gartner Hype Cycle for Multienterprise Solutions, Deborah R Wilson, Benoit J. Lheureux and Andrew White, August 28 2013), “Current case studies indicate that you can quantify e-invoicing savings in many ways: the cost per invoice, the total savings due to the reduced number of resources and computing power (60% to 80%, compared with paper invoice processing), or a percentage of a midsize to large company’s turnover (around 1%). Whichever way you put it, the clear indication from case studies is that the savings for companies that have to deal with a large volume of invoices (more than 100 per day, inbound and outbound) are significant, because of the economies of scale obtained by aligning technical, business and compliance strategies.” The report further indicates that “In a large project, if you make 50% of your invoicing traffic electronic in two years, doing great.”
“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.
Nipendo’s buyer-supplier collaboration platform empowers organizations around the globe to reach a new level of procure-to-pay automation that is not just paperless but also errorless and effortless, achieving over 90% straight-through processing of all supplier invoices directly to their ERP systems. Nipendo enables seamless interoperability with any supplier communication solution—including EDI, supplier network, and e-invoicing—allowing enterprises to leverage their existing implementations and extend electronic procurement and invoicing to the entire supplier ecosystem. For more information, see Nipendo at the PayStream Purchase-to-Pay Summit (Sep. 16-19, Charlotte, NC) or visit nipendo.com.