The manufacturing industry has been facing overwhelming challenges that are often swept under the rug. From supply chain visibility, offshoring hiccups, and sustainability pressure, to the lack of a collaborative network, the procurement process across different sectors leaves room to be desired. To this day, disruptions and adjustments continue to occur, leaving companies relentlessly scouring for solutions to bridge the gap that has been wide open for too long. And while digitalization has helped ease the source-to-pay experience, its utmost potential is yet to be seized.
In the wake of the pandemic, new source-to-pay strategies emerged as suppliers found themselves in a fight-or-flight mode to survive amidst lockdowns and restrictions. Not only did it bring unprecedented challenges, but it also further exposed existing risks and vulnerabilities.
To overcome these challenges, Israel-based startup Nipendo has deciphered the code to optimally streamline interactions between buyers and sellers.
The Intelligent Intermediator Platform
Established in 2010, Nipendo was ignited after Co-Founders Eyal and Alon Rosenberg witnessed the pains in the source-to-pay industry, particularly the flood of SaaS applications designed to replace ERP deficiencies, which called for excessive time, energy, and resources from both buyers and suppliers. Realizing that these existing models would neither stick nor scale, the Rosenberg brothers developed an intelligent platform that enables companies and their suppliers to interact efficiently without changing, replacing, or customizing existing systems and source-to-pay processes.
The Nipendo platform was designed as an intelligent intermediator that would streamline interactions and benefit all trading partners at minimal cost and maximal efficiency, leveraging cutting-edge technologies such as RPA (Robotic Process Automation), Artificial Intelligence, and Machine Learning. Cross-vertical medium-sized and large companies integrate this tool into their systems to reduce costs, improve procurement and supply chain methods, and support their overall competence in the market. Multinational companies that has adopted Nipendo’s end-to-end hyper-automation platform include HP, Intel, KLA, Kodak Alaris, Elbit Systems, IAI, Teva, and Unilever.
What’s more, this intelligent intermediator platform helps enterprises automate their purchase-to-pay processes to replace manual labor and human decision-making with smart bots while operating under the corporate policy, compliance rules, and regulations. This is key after staff shortages and downsizing due to the post-pandemic economic and market downturn as businesses no longer need to rely on massive manpower to optimize their operations.
Eliminating Manual Intervention
Nipendo’s state-of-the-art solutions aim to eliminate manual intervention, creating a highly scalable and holistic process that overhauls the standard practices of the source-to-pay industry. This includes Invoice Automation that allows users to upload, manage and archive digital invoices; RFX-to-Payment that enables businesses to increase their competitive advantage by eliminating manual intervention in ALL RFx-to-pay/P2Pay processes; Business Process Management that hyper-automates S2P processes, including process governance; Supplier Relationship Management that enhances the hyper-automation of processes between enterprises and their suppliers through a wide range of tools and technological capabilities; AP Automation that simplifies the end-to-end process of receiving invoices; Supplier Onboarding that empowers customers in the onboarding stage, and OCR Extraction and OCR Validation that assures 100% accuracy of invoice data extraction, except with regards to manual scans.
The source-to-pay industry’s long overdue total overhaul is set to offer an abundance of benefits to a multitude of companies across the globe. Nipendo leads this movement at the forefront, leveraging hyper-automation to replace outdated practices and obsolete models with a smart platform.