Nipendo Delivers on the Broken Promise of E-Invoicing with Automated End-To-End Invoice Reconciliation
Nipendo E2E-Invoicing™ Saves 80% of Invoice Processing Time and Costs While Eliminating Close to 100% of Processing Errors
GARTNER SUPPLY CHAIN EXECUTIVE CONFERENCE, Phoenix, AZ – May 21, 2013 – Nipendo, a pioneer in cloud-based buyer-supplier trading, today announced that it has introduced the industry’s first automated end-to-end invoice reconciliation, revolutionizing the way buyers and suppliers collaborate to boost supply chain efficiencies. While e-invoicing solutions have been in use for more than a decade, existing solutions have fallen far short of addressing business inefficiencies, as their approaches have merely substituted a paper-based invoice with an electronic version of the same document. Prior to the introduction Nipendo’s E2E-Invoicing, the process of reconciling invoices has remained largely manual, costly, and error-prone.
Nipendo’s E2E-Invoicing with Instant Invoice Reconciliation™ enables a process that is not just paperless, but also errorless. This new solution is part of the Nipendo Supplier Cloud platform, which empowers buyer organizations to extend enterprise processes into their supplier ecosystem. Key capabilities of Nipendo’s new E2E-Invoicing include:
- Instant Invoice Reconciliation™
When a supplier submits an invoice, it is immediately validated for data accuracy and compliance with the buyer’s requirements. In addition to data validation, invoices are matched with purchase orders and receiving records, all in real-time, enabling near 100% hands-free invoice reconciliation. With Instant Invoice Reconciliation, buyers can immediately process close to 100% of the invoices straight through to their ERP system. Designated users get alerted to the few invoices that require attention, allowing Accounts Payable personnel to transition from a tedious manual process to management by exception, saving companies significant time and money.
- On-the-fly Invoice Correction
Nipendo allows suppliers to immediately correct invoices that do not comply with buyers’ requirements, eliminating the need to cancel an invoice and resubmit it, which is the current prevailing practice. Since data validation and compliance are done on the Nipendo platform, suppliers can be notified and correct the invoice before it ever reaches the buyer’s system. Nipendo also presents the supplier with details regarding each validation failure (e.g., an unrecognized order number), enabling a self-healing process that eliminates errors and delays.
- Integrated Advanced Shipping Notice
Advance Shipping Notice (ASN) is a notification of pending deliveries, allowing the supplier to update a buyer with actual dates and quantities of shipped goods. When deployed with the E2E-Invoiceing module, suppliers can issue invoices for complete or partial shipments that can be automatically reconciled with the original purchase order as well as the Advance Shipping Notice.
- Real-time Supplier Visibility
For suppliers, the ability to submit invoices electronically and directly from their billing system is just the first step. Working through the Nipendo Supplier Cloud, suppliers receive instant acknowledgment and confirmation that their invoice was accepted and processed correctly by the buyer. Suppliers then have real-time visibility to the status of the invoice, eliminating the need to contact a buyer’s Accounts Payable department.
Nipendo CEO Eyal Rosenberg commented, “Electronic invoicing has failed to deliver on the promise of streamlined business processes for buyers and suppliers. Nipendo is the first solution that enables a process that is not just paperless but also effortless, and most important, errorless. In developing E2E-Invoicing functionality, our team worked closely with a select group of customers to address a costly problem with a solution that delivers real efficiencies.”
“We use the Nipendo Supplier Cloud to conduct electronic trading with our thousands of suppliers,” said David Lugasy from Clalit Health Care, one of the world’s largest HMOs. “With the new E2E-Invoicing capabilities, Nipendo’s platform enables us to eliminate close to 100% of all incoming invoices errors, reduce processing time by 80%, and streamline our interactions with the thousands of suppliers we work with.”
“E-invoicing and cloud-based procurement applications ushered in a new era for B2B connectivity among buyers and suppliers,” said Jason Busch, Managing Director, Azul Partners and Spend Matters. “Yet there are many reasons EDI still exists as the dominant form of document exchange and translation between organizations for everything but basic indirect goods and services. The next generation of communication interchange between businesses will be as important as the business applications themselves. We are entering a time when messaging and translation between the A/R and A/P financials modules of trading partners will serve as the foundation for entirely new operational efficiencies and commerce services.”
The Nipendo Supplier Cloud E2E-Invoicing is the latest addition to Nipendo’s flagship Supplier Cloud platform, used by leading organizations across industries to automatically synchronize supplier transactions into their enterprise business processes. Nipendo Supplier Cloud also features numerous innovative and distinct capabilities that remove the barriers to widespread adoption of electronic communication across the entire supplier ecosystem, including:
- Quick Onboarding
With a range of free and low-cost options that fit the needs and budgets of companies of all sizes, connecting to Nipendo’s platform is quick and simple. With no complex customizations, data mapping, or changes to existing business processes, suppliers can onboard and start submitting invoices in hours, instead of the prolonged onboarding process required with competing solutions.
- Connect Once, Communication with All Trading Partners
Once connected to the Nipendo Supplier Cloud, organizations can electronically communicate and collaborate with all current and future partners with no additional investment, regardless of their ERP system, data requirements, or specific business processes.
Nipendo delivers the next generation buyer-supplier communication and collaboration platform, empowering organizations around the globe to lower the cost of doing business while dramatically increasing efficiency and profitability. Unlike existing solutions that require heavy investment and lengthy custom programming for every new supplier connection, The Nipendo Supplier Cloud is a plug-and-play solution that allows rapid onboarding of thousands of suppliers at a very low entry cost. Going beyond simple data integration, Nipendo enables buyer organizations to create a seamless extension of electronic procurement and invoicing from the enterprise to the supplier ecosystem, transforming e-invoicing into an end-to-end process that is not just paperless but also errorless. For more information visit nipendo.com.