Xign Strengthens Accounts Payable Automation and Working Capital Initiatives
Xign Corporation has launched Release 8.0 enabling organizations to capture early pay discounts across all invoices, regardless of method of receipt or transactional strategy. This includes invoices captured through Electronic Data Interchange (EDI), imaging systems, and paper. According to Xign the new version of the software enables legacy invoice capture, supplier visibility and advanced discount capture on legacy invoices. Jeff Pikulik, director of buy-side research at AberdeenGroup said: “The ability to capture incremental discounts on any invoice regardless of its method of receipt changes the entire dynamic of payables. With real-time settlement features, the function’s perspective shifts from reactive transaction management to proactive cash management.” By shifting from paper to an electronic payables process, organizations can reduce their financial settlement costs by more than 50 per cent and improve visibility and control for Sarbanes-Oxley compliance.