It takes just 5 days to activate AP Automation. You’ll have access to a fully working system ready for final tuning and training.
We provide a native integration to ERP systems. It communicates using web services and understands both the structure of the ERP system and the required data elements. It automatically synchronizes data with the underlying ERP on a real time or scheduled basis. Moreover, it is maintained by AP Express, eliminating the need for ongoing support from IT.
First, AP teams tend to be distributed especially in larger organizations. A distributed, but accessible and reliably-connected infrastructure is required. SaaS applications fill this need. In fact, most ERP applications are being moved to the cloud for the same reason. Secondly, SaaS solutions don’t require capital outlays for hardware and software. Instead, a company pays an annual subscription fee, based on the number of invoices processed. As a result, the total cost of ownership for a SaaS solution is much less than an on-premise equivalent.
Subscriptions are priced on the basis of the number of invoices processed. There is no per user charge nor licensing fees. The AP Express Supplier Portal is part of your AP Express AP Automation and is free of charge to your suppliers.
As a SaaS application, we continually enhance and improve the solution. You automatically get access to these enhancements at no additional charge.
A recent study reported that 35% of an AP staff member’s time is spent supporting suppliers. They are responding to inbound emails and phone calls from suppliers inquiring on the status of invoices and when they are going to be paid. The Supplier Portal is a self-service solution which frees your team to focus on their priorities, not inbound inquiries.
AP Express does all of the recruiting of your suppliers. Just provide us the contact information for your suppliers and we will activate them.
Suppliers can view the status of their invoices and learn whether the invoice is in-process, paid, rejected or awaiting approval, and when they will be paid. They can upload invoices directly into the Supplier Portal and bypass email and direct mail. Suppliers can also update their vendor master profile information. We are adding more functionality all the time.
Nivo1’s Working Capital program is a form of Supply Chain Finance, but with no financial guarantee required from you. The program simply allows your suppliers to get paid sooner on approved invoices in exchange for a small discount. This is not a loan; suppliers are simply accelerating the payment on their invoice. It requires nothing from you and helps to ensure the stability of your supply chain.
Working Capital is offered through our longstanding partnership with global funding providers. There is no funding from your balance sheet or cost to you whatsoever – simply continue to process and pay invoices on the due date using the same method and business process you always have.
No. You continue to process and pay invoices on the due date using the same method you always have. When a supplier initially signs up for the program, you will receive a one-time notification to update their banking information in your ERP. Once this is complete, you simply continue to process and pay invoices as per your approved business process. If you choose, you can elect to enhance your working capital position by optionally extending your terms with suppliers utilizing the program.
When a supplier opts to use the program, you will receive a one-time notification called a Notice of Assignment letter from Nivo1 containing instructions on how to update the supplier’s banking information in your ERP. Once this is complete, you simply continue to process and pay invoices on the due date using the same method you always have.
Yes, any invoice that is approved in our system and scheduled for payment is eligible.
No problem. This will not disrupt your virtual card program.
Nothing. We ask that you announce the program to your suppliers via a one-time, pre-scripted email, which you are welcome to customize. Otherwise, there is nothing to do.
Nivo1 Working Capital is available to all your suppliers, regardless of size. Whereas traditional Supply Chain Finance is available only to investment-grade or near-investment grade suppliers, this program was purpose-built to be available for every supplier, including the long tail.
A recent industry survey of 19,424 suppliers found that 56% are interested in being paid early on their invoices. You may not be aware the extent to which your suppliers are already seeking working capital. This program provides them with a low-cost, easy way to get cashflow predictability. Usage is 100% optional and does not force suppliers into any lengthy contract or commitment on an ongoing basis. Nivo1 Working Capital is generally faster and easier than traditional loans, and funds can be used for any purpose. Unlike traditional Supply Chain Finance, this program is available to every supplier and at much lower cost than factoring or lines of credit.
To use the program, suppliers simply log in to the Nivo1 Supplier Portal and click the “Pay Me Early” button. They’ll then go through a simple one-time click-through sign-up process. The sign-up can be completed entirely online and takes just a few minutes. Once it’s done, they can access Working Capital any time.
No. The program will have no impact on credit scores. This is not a loan; suppliers are simply accelerating the payment on their invoice.
No. We provide comprehensive ongoing customer support to the suppliers including a dedicated help desk to answer questions as needed.