Pantellos and Xign Introduce New Electronic Payment and Settlement
Pantellos, a leading supply chain services company for the utility industry, has agreed a new partnership deal with Xign Corporation. The agreement will pave the way for a new electronic invoice and payment service designed to help utilities automate financial settlement with suppliers. Based upon Xign’s ePayables solution, the new Pantellos eSettlement Network aims to lower payables processing costs, improve utilities’ ability to negotiate and capture supplier discounts, and strengthen supplier relationships. According to industry estimates, the cost of business-to-business financial settlement-including invoice receipt, invoice approval and processing, payment, remittance, reconciliation and dispute resolution-ranges from $40-$60 per transaction.