Xign Announces Settlement Benchmarking Service

Combining Xign best practice expertise with historical transaction data contained within Xign's market-leading settlement network, this new service offers global corporations a powerful foundation for improving financial settlement results.

Xign Network Insight addresses 12 major metrics of financial settlement performance that are part of Xign's best practice methodology. These metrics -- including cycle time, on-time payment, discount penetration, and exception rate -- form the basis for tracking and benchmarking processing and working capital performance across the Xign Network. Relationship managers then work closely with clients to interpret and act upon the insights gained.

With nearly $100 billion in transaction history across more than 30,000 suppliers, the Xign Business Settlement Network (XBSN) contains the most comprehensive financial settlement database of its kind. Xign Network Insight applies proprietary analytics to the Xign Network data to compare individual company performance against aggregate results available by industry and spend category.

"The Xign network contains the fastest growing, most robust database of historical financial settlement transactions available," said George Fan, Xign vice president of marketing and supplier services. "With Xign Network Insight, global organizations have at their disposal a valuable asset that allows them to realize the full potential of next generation on-demand solutions like Xign."