Armstrong Teams With Xign Payment Sevices

Pleasanton, CA, Dec. 9--Armstrong World Industries has selected the Xign Payment Services Network to automate its paper based accounts payable processes. Xign's ePayables system will enable Armstrong to reduce the costs and cycle times associated with traditional payables processes, cut working capital costs and strengthen supplier relationships for a quicker return on investments. Armstrong has 57 plants in 14 countries and approximately 16,000 employees worldwide. The company's accounts payable operation is very metrics focused. Each month, the company processes approximately 18,000 invoices in its North American shared services organization; most of them are paper documents paid via paper check. To further streamline its accounts payable operations, Armstrong looked for a solution that would automate transactions with suppliers, eliminate paper, and support its existing technology infrastructure. Xign's ePayables solution offered Armstrong the chance to automate the remaining paper invoices and drive down their cost per transaction. "In Xign, we found a company with a proven ePayables solution that could streamline our payables processes and make it easy for suppliers to participate," said Steve Borkgren, vice president of supply chain management for Armstrong Flooring Products. "Many of our suppliers do not have sophisticated technical systems. Xign's service will allow our suppliers to sign up easily and track invoice and payment status from a web browser. In addition, a number of our suppliers are already on the Xign Payments Services Network, so we can begin processing electronic invoices and payments with them immediately." "Armstrong's return on investment analysis demonstrated the tremendous business value of our buyer centric approach to payables automation," said Tom Glassanos, Xign president and CEO. "We're excited about this opportunity to help a global manufacturer streamline business operations and reduce costs with Xign ePayables."