Learn how Siemens has deployed Direct Insite technology for supplier invoice processing & self-service invoice/payment status lookup.
Direct Insite Blog
In an effort to improve supply chain efficiency, companies are increasingly turning to supply chain financing as a catalyst for cost savings, cash flow improvements and working capital optimization. There are several reasons why supply chain financing is gaining popularity among companies both large and small. Industry research compiled by the Aberdeen Group suggests that demand volatility and the risk of trading partner default are the two biggest drivers of interest in supply chain financing.
In today’s highly competitive business environment, accounts payable (AP) and accounts receivable (AR) departments must find ways to improve corporate profitability and overall financial health. Managing working capital effectively is one way to do this.
A dynamic discounting solution gives sellers the ability to encourage early invoice payments from buyers based on a sliding discount scale, depending on how early the buyer pays the invoice. Typically, sellers offer buyers discounts for paying invoices within a 10-day window. With dynamic discounting, sellers can extend the discount period beyond the traditional 10-day timeframe. Sellers can discount their approved receivables at any time leading up to the invoice due date.
Companies are under tremendous pressure to preserve margins, reduce costs and optimize cash flow.
The operational benefits of e-invoicing are compelling.
For Xign customers, Direct Insite is the natural next step to fill all of your e-payment and invoicing automation needs. With Direct Insite, your organization can reduce manual processes associated with invoice receipt, routing and approval, capture more early payment discounts, and transform your corporate financial supply chain.
We support financial enterprises across 100 different countries, representing more than 35 currencies and 17 languages. We have an exceptional track record of transforming Accounts Payable (AP) in the world’s largest companies. Our customers include IBM, HP, Saint Gobain, BE Aerospace and Siemens.
For our clients, the benefits of working with Direct Insite are clear:
For banks looking for ways to grow their electronic payments volume, and to recover some of the fee income lost as a result of recent government regulation, e-invoicing offers a tantalizing opportunity.
By any measure, payables and receivables processing is becoming an increasingly complex and costly challenge for corporations. It is negatively impacting a variety of things including: operational costs, visibility into financial information, working capital management, and even supplier and customer relationships. One particular challenge for corporations is the inefficiencies associated with processing invoices and payments received from multiple sources, in multiple formats. Corporations need a single platform that brings together all of their payables, receivables and payments information.
Despite years of talk about electronification, accounts payable (AP) remains paper-intensive. Nearly 77 percent of all incoming invoices are still paper-based, according to Aberdeen Group.
For global enterprises, operating in a financial shared services environment is the “new normal.”