Vendor Payment Automation simplifies vendor payment procedures, replacing manual systems with a fast, efficient and easy to use solution
(MIAMI, FLORIDA, FEBRUARY 17, 2010) NGC® (New Generation Computing®) today announced the introduction of its new Vendor Payment Automation software, designed to streamline and automate the process of matching documents and approving vendor invoices in global trade logistics.
Available as a module for NGC’s e-PLM® and e-SPS® software, Vendor Payment Automation (VPA) enhances the capabilities of NGC’s best-in-class solutions for PLM and Global Sourcing/Visibility. VPA leverages the supply chain data that is already contained in e-PLM and e-SPS, including purchase orders, packing, shipments, quality, compliance and testing, and warehouse receipts. It eliminates manual processes with a low-cost, easy to use solution and centralizes all documentation required for vendor payments.
Upon receipt of vendor invoices, VPA automatically validates the information and communicates payment status to the supplier, alerting them when to expect payment and eliminating unnecessary phone calls, faxes and emails. Key features of Vendor Payment Automation include:
• Provides a central repository of all documents that are needed to support vendor payments
• Supports multiple documents from multiple sources
• Allows rule-based comparison of documents
• Automatically validates and matches all required documents
• Alerts users of any discrepancies, enabling issues to be quickly resolved
• Imports and exports data to third-party ERP and Accounts Payable systems
“Vendor Payment Automation is a natural extension of NGC’s PLM and Global Sourcing software,” said Alan Brooks, president, NGC. “With the introduction of VPA, NGC brings another level of efficiency and speed to trade logistics. We look forward to helping our customers around the world streamline their payment processes with our Vendor Payment Automation software.”