Nipendo and SynerTrade partner to provide a complete sourcing-to-payment solution
Burlington, MA and Munich, Germany– March 17th, 2014 – Nipendo, the leading provider of extreme Procure-to-Pay automation solutions and SynerTrade, a leading provider of enterprise-grade Source-to-Contract applications, announced a new partnership to deliver one of the most advanced and comprehensive Sourcing-to-Pay solutions available worldwide.
One-stop Solution from Sourcing to Payment
The combined solution integrates the SynerTrade App Suite into the Nipendo Supplier Cloud Procure-to-Pay platform, empowering enterprises to streamline and automate the entire Sourcing-to-Payment process.
Nipendo’s buyer-supplier collaboration platform enables organizations to reach a new level of Procure-to-Pay automation, achieving over 90% straight-through processing of supplier transactions directly to their ERP systems. Offering a range of free and low-cost connectivity options, Nipendo’s ability to quickly onboard suppliers of all sizes allows organizations to rapidly rollout the solution to their entire supplier base.
The integration of the SynerTrade App Suite adds highly-scalable and agile Source-to-Contract capabilities that give organizations a distinct competitive advantage. Together, the integrated solution provides a best-of-bread one-stop Sourcing-to-Payment solution that enterprises can use across their entire supplier ecosystem.
“SynerTrade is known for empowering enterprises to create supplier relationships that maximize organizational performance,” said SynerTrade CEO Eberhard Aust. “Joining forces with Nipendo is a natural extension of these capabilities to day-to-day operations, ensuring consistency, timeliness, and transparency at every layer of the buyer-supplier relationships.”
Revolution in Invoice Processing: Real-Time Reconciliation
Nipendo’s Instant Invoice Reconciliation ensures that only 100% correct and fully-reconciled invoices are automatically transferred to the buyer’s ERP system. Before an invoice is received on the buyer side, it is preemptively validated by Nipendo for data accuracy and compliance with the buyer’s requirements. Invoices are also matched with purchase orders and receiving records, all in real-time. Suppliers get immediate notification if an invoice is non-compliant, so they can correct any issues before the invoice enters the buyer’s accounting system and avoid any delays. With automated reconciliation in place, buyers can immediately process close to 100% of the invoices straight through to their ERP system, accelerating the speed of business, eliminating errors, and removing non-productive manual processes.
A Unified Solution for all Spend Categories
“eProcurement tools typically only address 10-25% of a company’s spend under ideal circumstances, given its focus on indirect (e.g., SG&A) type overhead catalog type items. The rest of spend is tied up in direct procurement (ERP) and specialized systems (VMS, marketing, print, telecom, legal, etc.),” said Jason Busch, Managing Director and Executive Editor, Spend Matters. .
The SynerTrade-Nipendo solution is the first Sourcing-to-Payment platform that can be effectively used across all spend categories, (e.g. direct, indirect, services), bringing efficiency and agility to the entire supplier ecosystem.
A Paradigm Shift towards Openness and Flexibility
Designed for interoperability, the open architecture of the Nipendo Supplier Cloud platform enables quick integration with best-of-breed applications such as SynerTrade, providing customers with unparalleled flexibility to deploy solutions that are optimized for their specific needs while minimizing integration cost and effort.
“Both Nipendo and SynerTrade understand that buyer organizations are looking for solutions that fit into their existing B2B architecture. Since both systems were designed with this vision in mind, we can quickly put together an integrated platform that can add immediate value to critical business processes. It allows organizations to transform their capabilities in a matter of a few months, rather than embark on a multi-year project that could be painful, costly, and risky,” said Nipendo CEO Eyal Rosenberg.
SynerTrade is Europe´s leading provider for purchasing technology and consulting services supporting the entire purchasing process. Providing advanced and highly comprehensive suite of 33 apps, SynerTrade enables clients to transform their business processes. In just 13 years it has become one of the fastest growing technology companies in Europe, with more than 150 professionals, consultants and experts offering global support from offices in Europe, the United States and Asia. SynerTrade is serving over 250 clients worldwide including global leaders such as Google, Beiersdorf, Carrefour, Fresenius Medical Care, Henkel, Lufthansa, Metro, OBI, OSRAM, Rossmann and Shiseido. For more information visit www.synertrade.com
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 supplier transactions 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 fully-automated electronic procurement, invoicing, dynamic discounting, and supply chain financing options to the entire supplier ecosystem. For more information visit nipendo.com.