Alliance Organization:
Xign
On the Web:
www.xign.com Overview:
Accenture teams with Xign Corporation to automate global settlement operations for payables organization and the suppliers they work with, all through an on-demand service. The payback to clients comes from a substantial reduction in settlement costs—typically 50 percent or more—and dramatic expansion of early payment discounts that can exceed 1% of total spend. The vast majority of business-to-business commerce is conducted with manual processes involving the exchange of paper purchase orders, invoices and checks. This activity is slow and inefficient, tying up trillions of dollars in working capital that must be financed across global supply chains. The Xign Business Settlement Network transforms business settlement by automating the complete commerce cycle—from electronic order delivery to electronic invoice and payment processing. Xign's on-demand electronic settlement network delivers for business what credit cards did for consumers. It is the first solution of its kind to systematically offer supplier financing via the management of trade terms and early pay discounts. It is network-based so that all suppliers, once activated, become available to settle with all other buyers on the network. And it is deployed in a true "software as a service" model, enabling implementation and maintenance to be low cost and efficient. "We are excited about our alliance with Accenture in support of their efforts to transform accounts payable operations from a cost center to a strategic profit center. Accenture adds valuable consulting and implementation knowledge to our on-demand electronic settlement network. We look forward to assisting Accenture clients interested in automating financial settlement operations to drive down costs and improve management of working capital."
—Tom Glassanos, Xign president and CEO Back to the Alliance Home Page To Top |