American Express Acquires B2B Payment Automation Company Nipendo
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Nipendo by the numbers
“By providing real-time visibility to receivable worthiness and partnering with non-bank capital resources, Nipendo is expanding the range of available trade financing options at a time of great need.”
“Nipendo enables interoperability between different supplier communication solutions (for example, electronic data interchange [EDI], supplier networks and e-invoicing), allowing enterprises to rapidly achieve over 90% straight-through processing of all supplier invoices directly to their existing ERP systems.”
“Nipendo is the real deal when it comes supporting both application capability in P2P, such as e-invoicing and the connectivity or network layer itself.”
“Admittedly, we were initially reluctant to deploy Nipendo, fearing it would add to our work and possibly require the hiring of additional staff. We would likely not have done so had our customer not required us. However, after deploying the platform using a B2B connection, we realized significant benefit from it and now urge our customer to expand the platform’s utilization. We find ourselves spending far less time around invoice submission and, since we have full transparency into the process and into invoice and payment status, we no longer need to call the customer directly. Our business processes have improved significantly, and we’re better able to plan ahead.”
Chief Information Officer
“Before moving to Nipendo’s digital platform, we had to manually process hundreds of thousands of physical documents… we were sometimes late paying our suppliers… Nowadays the Electric Company receives the vast majority of invoices through Nipendo’s digital platform, which automatically examines them and provides intelligent validations… Once we started using Nipendo our work processes shortened and became more efficient. The number of people required to handle invoices was reduced and the company’s ability to comply with payment obligations to suppliers improved significantly. We’ve gotten rid of almost all of our large filing cabinets, freeing up a lot of office real estate, have done away with the exhausting filing activities and have almost completely eliminated the need to manually key-in data.”
Head of Accounting Division
“The Nipendo platform has enabled IAI to significantly improve supply chain efficiencies and supplier relations by creating transparency, and by automating the bulk of documentation along with the proper validations. This has freed up our team to address more value-add challenges, has eliminated data errors, and has enabled us to meet our SLA vis-à-vis suppliers and customers. Beyond the technology’s ability to address complex matters, the Nipendo team has demonstrated drive, flexibility, and creativity. All of this has encouraged us to move into new areas with Nipendo and to strive towards making it a one-stop-shop for IAI and its global suppliers.”
Deputy COO and VP Supply Chain
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Organizations that work with a large number and often varied types of suppliers find themselves manually processing the different procurement documents that go back and forth between them: RFPs, Purchase Orders, Invoices, Shipping Notifications, and the like.
Nipendo built a cloud-based platform that automates all procurement-related interactions between buying organizations and their suppliers, and which is agnostic to spend-type and to the underlying ERP or accounting systems.
The platform automates the entire process from procurement to payment, not just individual documents, as every information exchange between buyers and suppliers encapsulates the entire context and history of the interaction, enabling our platform to perform process governance that’s aligned with corporate policies, rules, and logic.
The Nipendo platform is industry agnostic, which is why we’ve successfully deployed it with companies in the utilities space, as well as in healthcare, aerospace and defense, chemicals, pharmaceuticals, technology, aggrotech, semiconductors, banks, and more!