How long does it take to activate NIVO1 AP Automation?
It takes just 5 days to activate AP Automation. You'll have access to a fully working system ready for final tuning and training.
Why is NIVO1 activation so much faster than other solutions?
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 NIVO1, eliminating the need for ongoing support from IT.
What are the benefits of SaaS and running AP Automation in the cloud?
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.
What is the cost of NIVO1 AP Automation?
Subscriptions are priced on the basis of the number of invoices processed. There is no per user charge nor licensing fees. The NIVO1 Supplier Portal is part of your NIVO1 AP Automation and is free of charge to your suppliers.
How often do you release new versions of the solution?
As a SaaS application, we continually enhance and improve the solution. You automatically get access to these enhancements at no additional charge.
What is the benefit of the Supplier Portal to the buyer?
A recent study reported that 35% of an AP staff member’s time is spent support 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.
How do Suppliers sign up for the Supplier Portal?
NIVO1 does all of the recruiting of your suppliers. Just provide us the contact information for your suppliers and we will activate them.
How much does the Supplier Portal cost?
The Supplier Portal is free. There is no cost to the buyer nor the supplier.
What can suppliers do in the portal?
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.
What are the benefits of a payment solution?
Payment solutions like virtual cards and ACH are much less expensive and more secure than checks. They also provide generous rebates back to suppliers. Finally, they help suppliers by providing faster payments and better reconciliation.
What do we need to do to make NIVO1Pay work with our financial system?
Why are virtual cards and ACH better than checks?
Virtual cards are highly secure and not susceptible to fraud. They also carry remittance information which makes them easy for suppliers to reconcile with their billing system. Finally, virtual cards are much less expensive than checks, which cost between $10 and $25 to process.
What kind of rebates should I expect from a payment solution?
The amount of your rebate is tied to the dollar value of your payments. The more payments you make using virtual cards and ACH, the larger your rebate. Contact us and we can provide you a good estimate after getting answers to just a few questions.
Who is your payment partner?
Our payment partner is JP Morgan Chase.
Supply Chain Financing
What is the benefit of supply chain financing for a buyer?
Supply chain financing preserves buyer working capital and enables buyers to grow DPO through extended terms. It also provides buyers a consistent, affordable source of funding for the entire supply chain.
Who is providing Supply Chain Finance?
Supply Chain Finance is our joint program with our partner The Interface Financial Group.
Who is The Interface Financial Group (IFG)?
Since 1972, IFG has been a premier global provider of early payment solutions for small- and mid-sized businesses.IFG is headquartered outside Washington, DC and has offices in many countries around the world.