Armstrong World Industries Selects Xign Payment Services Network to Automate Payables Processes; Supplier Activation Services, Measurable ROI Cited as Key Advantages of Xign ePayables.Business Editors/High-Tech Writers PLEASANTON, Calif.--(BUSINESS WIRE)--Dec. 9, 2002 Xign Corporation today announced that Armstrong World Industries Armstrong World Industries, Inc. is an international designer and manufacturer of floors, ceilings and cabinets. Based in Lancaster, Pennsylvania, Armstrong operates 39 plants in 10 countries and has approximately 13,000 employees worldwide. , Inc., the primary operating subsidiary An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. of Armstrong Holdings, Inc., (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ACKHQ), a global leader in the design and manufacture of floors, ceilings, and cabinets, has selected the Xign Payment Services Network to automate its paper-based accounts payable processes. With Xign's ePayables solution, Armstrong will reduce the costs and cycle times associated with traditional payables processes, cut working capital costs, strengthen supplier relationships, and achieve a quick return on investments. Armstrong has 57 plants in 14 countries and approximately 16,000 employees worldwide. The company's progressive accounts payable operation is very metrics focused. Each month, the company processes approximately 18,000 invoices in its North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. Shared Services shared services, n.pl the administrative, clinical, or other service functions that are common to two or more hospitals or their health care facilities and used jointly or cooperatively by them. organization; most of them are paper documents paid via paper check. Over time, Armstrong had identified a number of internal methods to reduce the number of invoices that need to be "touched" as they are processed. 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. After a thorough business analysis and review of several vendor solutions, Armstrong concluded that the services Xign offered to drive supplier adoption ensured a strong return on investment. In addition, Xign's ePayables solution offered Armstrong the chance to automate the remaining paper invoices and drive their cost per transaction even lower. "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 The program that serves as your front end to the Web on the Internet. In order to view a site, you type its address (URL) into the browser's Location field; for example, www.computerlanguage.com, and the home page of that site is downloaded to you. . 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 thorough return on investment analysis demonstrated the tremendous business value of our buyer-centric approach to payables automation," said Tom Glassanos, Xign president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "We're excited about this opportunity to help a global manufacturer streamline business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets and reduce costs with Xign ePayables." About Armstrong Armstrong World Industries, Inc., a subsidiary of Armstrong Holdings, Inc., is a global leader in the design and manufacture of floors, ceilings and cabinets. In 2001, Armstrong's net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight totaled more than $3 billion. Founded in 1860, Armstrong has more than 16,000 employees worldwide. More information about Armstrong is available on the Internet at www.armstrong.com. About Xign Xign is a leading provider of ePayables solutions that automate the financial settlement of business-to-business commerce. Xign offers the first complete electronic invoice and payment service that streamlines accounts payable processing via the Internet. With Xign, Global 2000 enterprises can reduce payable processing costs and cycle times, cut working capital costs and strengthen supplier relationships. Xign helps thousands of enterprises automate their financial settlement processes, including Bristol-Myers Squibb, Charles Schwab & Company, Sprint Corporation and T-Mobile. Xign is a privately held corporation Noun 1. privately held corporation - a corporation owned by a few people; shares have no public market close corporation, closed corporation, private corporation with headquarters in Pleasanton, Calif., and can be reached by phone at 925/469-9446 or via the Internet at http://www.xign.com. |
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