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WATERLOO, Ont. -- RDM Corp.'s investee company, Xign Corporation, announced Wednesday that New England-based Shaw's Supermarkets has chosen the Xign Payment Services Network to automate its paper-based accounts payable processes.
The Xign Payment Services Network, or XPSN, is a comprehensive electronic invoice and payment service that automates all the core functions of the accounts payable process, including invoice receipt, validation, routing, dispute management, approval, and payment. With XPSN, accounts payable organizations can cut the cost and time of traditional paper-based processes by up to 50 percent and capture all available early payment discounts, according to the company.
Shaw's was looking for a way to simplify and accelerate the process for approving business expense invoices. The Xign ePayables solution will allow Shaw's network of more than 25,000 suppliers to submit invoices and receive payments electronically. With the ability to support multiple enterprise software systems and to expand early payment discount capture opportunities, the XPSN will allow Shaw's to eliminate paper and improve supplier relationships.
"The XPSN is the only solution that met or exceeded all of our product requirements," said Steve Duarte, manager of accounts payable/check recovery at Shaw's. "As an outsourced solution, it will require minimal IT resources to deploy. I was also impressed with Xign training programs, especially those that will support our supplier enrollment efforts."