10 Jul Nipendo’s zero tolerance approach to data accuracy
This week we’re delighted to welcome a new sponsor, Nipendo, to Purchasing Insight.
Nipendo is fairly new on the P2P scene but in the five or so years that they’ve been about they’ve already made quite an impact with an impressive customer list which includes HP, IBM, Motorola, Pfizer and Office Depot.
I was excited to speak to Nipendo’s CEO, Eyal Rosenberg, a couple of weeks ago – I wanted to know what makes Nipendo’s proposition stand out from the crowd. We covered a lot of ground but the thing that stood out for me was the concept of E2E-invoicing. At first, I was a little skeptical but as Eyal explain more, enhancing his explanation with case study examples, the Nipendo vision became clearer.
Let me explain what E2E invoicing is all about. To quote directly from the Nipendo website: “Nipendo’s E2E-Invoicing goes beyond transmission and format. It empowers an automated end-to-end process that matches invoices with purchase order and receiving records, enabling near 100% invoice reconciliation on the buyer side and providing suppliers with instant acknowledgment and confirmation.”
And it goes further: “E2E-Invoicing is the key to accelerating the speed of business and the elimination of non-productive manual processes. Even before an invoice is received on the buyer side, it is preemptively validated by the Nipendo platform for data accuracy and compliance with the buyer’s requirements. In addition to data validation, invoices are also matched with purchase orders and receiving records, all in real-time.
“With Instant Invoice Reconciliation, suppliers get immediate notification if an invoice is non-compliant, so they can correct any issues before the invoice enters the buyer’s accounting system and avoid any delays. With automated reconciliation in place, buyers can immediately process close to 100% of the invoices straight through to their ERP system. Designated users get alerted to the few invoices that require attention, allowing Accounts Payable personnel to transition from tedious manual processing to management by exception.”
To the skeptic, this reads like a wish list of functionality. I’ve worked on these kinds of projects – I have the scars to prove it – matching electronic invoices on the fly? – in real time? – in the cloud? – delivering close to 100% straight through processing? It’s a fantasy – isn’t it? But that’s not what Nipendo’s customers are saying. And it’s not what the 15,000+ suppliers they recruited since 2010 are saying. Some of the results are truly astounding – from 0% to 90% e-invoicing achieved in 24 months with 100% P.O. reconcilliation for one customer.
Nipendo’s Supplier Cloud model is another example of solutions that are emerging that are finally delivering on the promise of the collaborative extended enterprise. It’s been talked about for years. By taking a zero tolerance approach to data quality within a collaborative cloud environment, Nipendo is able to deliver something quite simple – it’s called “right first time”.
What I’ve seen from Nipendo so far is very impressive but being charmed by a few conversations with affable vendor guys is one thing – seeing it in action is another. Which is why I’m excited that I’ll be speaking to a few of Nipendo’s impressive client list in the coming months and I’m looking forward to reporting back on what I hear.
Pete Loughlin can be found on twitter @peteloughlin