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 and WMD, utilising Invapay’s ePayables web portal, NEC’s Corporate Card 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.”
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.”
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. “