NEC Asia Pacific Pte Ltd selects Invapay to optimise their Working Capital
March 2017 –
Leading information and communications technology provider
NEC Asia Pacific Pte Ltd (NEC APAC) has chosen award winning
payments Fintech Invapay to help
optimise their working capital and extend their DPO (Days Payable
Outstanding). The technology specialist chose Invapay for its proven
track record and experience within the ePayments arena.
Leading information and communications technology provider
NEC Asia Pacific Pte Ltd (NEC APAC) has chosen award winning
payments Fintech Invapay to help
optimise their working capital and extend their DPO (Days Payable
Outstanding). The technology specialist chose Invapay for its proven
track record and experience within the ePayments arena.
Working closely with
Invapay, VISA and WMD, utilising Invapay’s ePayables web portal, VISA’s
card solution and WMD’s invoice processing automation, NEC have
realised a solution which not only meets their goals
but delivers the additional benefit of full credit utilisation, 100%
supplier acceptance and payment automation.
Invapay, VISA and WMD, utilising Invapay’s ePayables web portal, VISA’s
card solution and WMD’s invoice processing automation, NEC have
realised a solution which not only meets their goals
but delivers the additional benefit of full credit utilisation, 100%
supplier acceptance and payment automation.
Shawn Damon – Commercial Director – Invapay
“We are delighted to be working with NEC, in partnership with UOB and
WMD to drive forward their strategic goal of
extending their DPO by using our payment innovation. Our ePayables
technology has delivered the required DPO extension along with 100%
supplier acceptance which has enabled NEC to fully utilise all UOB
credit lines when settling accounts regardless of the
size of the supplier.”
“We are delighted to be working with NEC, in partnership with UOB and
WMD to drive forward their strategic goal of
extending their DPO by using our payment innovation. Our ePayables
technology has delivered the required DPO extension along with 100%
supplier acceptance which has enabled NEC to fully utilise all UOB
credit lines when settling accounts regardless of the
size of the supplier.”
Sandra Kwok-Finance Director-NEC Asia Pacific:
“NEC
APAC is pleased to implement the payment automation system to help us
improve our internal operational efficiencies. This implementation was a
challenging one as it involves multiple
partners, however, thanks to the resilience, knowledge and passion
demonstrated by the teams from Invapay and WMD, the payment automation
system was successfully rolled out. The solution has enabled the Finance
team to reduce the time spent on reconciling
payments, and also minimise human error as the process is now largely
automated. It also ensures that our suppliers, who are largely SMEs,
receive their payments ahead of time so that they can manage their cash
flow more effectively.”
“NEC
APAC is pleased to implement the payment automation system to help us
improve our internal operational efficiencies. This implementation was a
challenging one as it involves multiple
partners, however, thanks to the resilience, knowledge and passion
demonstrated by the teams from Invapay and WMD, the payment automation
system was successfully rolled out. The solution has enabled the Finance
team to reduce the time spent on reconciling
payments, and also minimise human error as the process is now largely
automated. It also ensures that our suppliers, who are largely SMEs,
receive their payments ahead of time so that they can manage their cash
flow more effectively.”
Volkmar Ahrens – Managing Director – WMD Asia “We
are honoured to have NEC leverage on our xFlow Capture Solution to
create a paperless
environment, drive transparency across departments and assist their
Finance Team to streamline their daily operations. Since the pilot run,
our solution has helped reduce more than 80% of manual data-entry
activities thereby allowing their team members to
increase work efficiency and productivity.”
are honoured to have NEC leverage on our xFlow Capture Solution to
create a paperless
environment, drive transparency across departments and assist their
Finance Team to streamline their daily operations. Since the pilot run,
our solution has helped reduce more than 80% of manual data-entry
activities thereby allowing their team members to
increase work efficiency and productivity.”
Vikram Kshettry – Head of B2B Partnerships, Asia Pacific – Visa
“As the global leader in payments, Visa looks to introduce new
technology partners which offer secure and efficient payment processes
to corporations. These corporates are looking to solve for efficient
processing and payment of supplier invoices, resulting
in substantial cost savings and better working capital management. With
Invapay, Visa is able to bring in the best available partner with
proven payment technology for B2B payments. For the suppliers as well,
this will deliver more certainty on their payments
and faster receipt of funds. We are
confident that with Invapay, we will deliver a pioneering solution much
needed in Singapore and Asia Pacific”
About Invapay: Invapay
is a UK based payment technology company. They offer an efficient,
flexible way to manage payments and working capital and are connected
to over 800 banks. Invapay operates across three continents, processes
all major currencies and provides a flexible payments alternative that
ensures long-term buyer and supplier benefits.
is a UK based payment technology company. They offer an efficient,
flexible way to manage payments and working capital and are connected
to over 800 banks. Invapay operates across three continents, processes
all major currencies and provides a flexible payments alternative that
ensures long-term buyer and supplier benefits.
The cloud-based solution can be operational in 24 hours and provides more access to credit lines at the flick of a switch. The enhanced transaction data enables efficient processing
and reconciliation of payments. This enables CFOs to be confident of financial control and compliance.
and reconciliation of payments. This enables CFOs to be confident of financial control and compliance.
About NEC APAC: Singapore-based
NEC Asia Pacific (NEC APAC) is the regional headquarters for NEC
Corporation (HQ: Japan) in the Asia Pacific region (South and Southeast
Asia and Oceania). As a leading information and communications
technology provider, NEC APAC provides innovative solutions and
infrastructure to promote safety, security and enhance the quality of
life for individuals and the community. NEC APAC’s expertise
includes solutions for carrier networks, biometric identification,
enterprise applications and infrastructure, unified communications,
transportation solutions, multimedia displays and smart energy, as well
as the provision of managed services and contact
centre services.
NEC Asia Pacific (NEC APAC) is the regional headquarters for NEC
Corporation (HQ: Japan) in the Asia Pacific region (South and Southeast
Asia and Oceania). As a leading information and communications
technology provider, NEC APAC provides innovative solutions and
infrastructure to promote safety, security and enhance the quality of
life for individuals and the community. NEC APAC’s expertise
includes solutions for carrier networks, biometric identification,
enterprise applications and infrastructure, unified communications,
transportation solutions, multimedia displays and smart energy, as well
as the provision of managed services and contact
centre services.
Our regional
competency centres, together with our research laboratories, provide
cutting-edge public safety, cybersecurity technologies and enterprise
solutions to enable safer cities, with a vision to create
a brighter future.
competency centres, together with our research laboratories, provide
cutting-edge public safety, cybersecurity technologies and enterprise
solutions to enable safer cities, with a vision to create
a brighter future.
About WMD: Based
in Singapore, WMD Asia is the APAC HQ of WMD Group (German-based
company), covering the APAC
region. We provide industry-leading solutions ranging from Process
Automation, to Workflow and Document Management as well as
Data-Retention with our product suite – xSuite®.
in Singapore, WMD Asia is the APAC HQ of WMD Group (German-based
company), covering the APAC
region. We provide industry-leading solutions ranging from Process
Automation, to Workflow and Document Management as well as
Data-Retention with our product suite – xSuite®.
Since
establishment 23 years ago, we have been working with C-Level
Executives and their teams from global enterprises worldwide to deploy
our state-of-the-art technologies, that can interconnect and
communicate with disparate technologies. Our software offers numerous
intelligent, high-performance workflows and process solutions, mapping
the entire lifecycle of a document from scan to archive,
and it supports more than 180+ languages.
establishment 23 years ago, we have been working with C-Level
Executives and their teams from global enterprises worldwide to deploy
our state-of-the-art technologies, that can interconnect and
communicate with disparate technologies. Our software offers numerous
intelligent, high-performance workflows and process solutions, mapping
the entire lifecycle of a document from scan to archive,
and it supports more than 180+ languages.
We aim to help businesses
succeed by getting rid of bottlenecks, boring and repetitive processes,
thereby empowering their users to take charge and focus on researching
new ways to improve their businesses.
About Visa: Visa
Inc. (NYSE:V) is a global payments technology company that connects
consumers, businesses, financial institutions, and governments in more
than 200 countries and territories to fast, secure and reliable
electronic payments. We operate one of the world’s most
advanced processing networks — VisaNet — that is capable of handling
more than 56,000 transaction messages a second, with fraud protection
for consumers and assured payment for merchants. Visa is not a bank and
does not issue cards, extend credit or set rates
and fees for consumers. Visa’s innovations, however, enable its
financial institution customers to offer consumers more choices: pay now
with debit, pay ahead of time with prepaid or pay later with credit
products.
Inc. (NYSE:V) is a global payments technology company that connects
consumers, businesses, financial institutions, and governments in more
than 200 countries and territories to fast, secure and reliable
electronic payments. We operate one of the world’s most
advanced processing networks — VisaNet — that is capable of handling
more than 56,000 transaction messages a second, with fraud protection
for consumers and assured payment for merchants. Visa is not a bank and
does not issue cards, extend credit or set rates
and fees for consumers. Visa’s innovations, however, enable its
financial institution customers to offer consumers more choices: pay now
with debit, pay ahead of time with prepaid or pay later with credit
products.
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