Press Release Summary:
Xign Network Insight(TM) provides users with network-based benchmarking service for tracking and improving financial settlement performance. Combining Xign best practice expertise with historical transaction data contained within Xign's settlement network, service addresses 12 metrics of financial settlement performance. These metrics form basis for tracking and benchmarking processing and working capital performance across Xign Network.
Original Press Release:
New Xign Network-Based Benchmarking Service Improves Financial Settlement Performance
Xign Network Insight(TM) Taps Power of Xign Network Transaction History
PLEASANTON, Calif., June 21 -- Xign Corporation, the leading provider of on-demand Order to Pay solutions, today unveiled Xign Network Insight(TM), the first network-based benchmarking service for tracking and improving financial settlement performance. Combining Xign best practice expertise with historical transaction data contained within Xign's market-leading settlement network, this new service offers global corporations a powerful foundation for improving financial settlement results.
Xign Network Insight addresses 12 major metrics of financial settlement performance that are part of Xign's best practice methodology. These metrics -- including cycle time, on-time payment, discount penetration, and exception rate -- form the basis for tracking and benchmarking processing and working capital performance across the Xign Network. Relationship managers then work closely with clients to interpret and act upon the insights gained.
With nearly $100 billion in transaction history across more than 30,000 suppliers, the Xign Business Settlement Network (XBSN) contains the most comprehensive financial settlement database of its kind. Xign Network Insight applies proprietary analytics to the Xign Network data to compare individual company performance against aggregate results available by industry and spend category.
"The Xign network contains the fastest growing, most robust database of historical financial settlement transactions available," said George Fan, Xign vice president of marketing and supplier services. "With Xign Network Insight, global organizations have at their disposal a valuable asset that allows them to realize the full potential of next generation on-demand solutions like Xign."
For more information about Xign Network Insight, contact Xign at 925-469-9446.
About Xign Corporation
Xign Corporation operates the leading global settlement network for business. Xign's suite of on-demand applications is the first to automate the complete commerce cycle -- from electronic order delivery to electronic invoice and payment processing -- to streamline operations and monetize working capital. With over $90 billion in transactions processed and a fast growing network of over 30,000 global suppliers, Xign offers the most complete and widely deployed service of its kind. Customers include Fortune 2000 companies across many different industries such as Bristol-Myers Squibb, Honeywell, MetLife, Payless ShoeSource, RadioShack Corporation, Southern Company, Sprint, T-Mobile and United Rentals. Xign is headquartered in Pleasanton, CA. For more information, visit xign.com.
CONTACT: Christopher Rauen of Xign Corporation, +1-925-251-4514, or email@example.com