14 Jan 2002
OMNEXUS BRINGS FIRST ONLINE PAYMENT OPTION TO PLASTICS INDUSTRY THROUGH BILLINGZONE
For the First Time, Plastics Buyers Can Complete Entire Order Process Online,
ATLANTA and PITTSBURGH (January 14, 2002) – Omnexus, the global, neutral eMarketplace created by the plastics industry for the plastics industry, has introduced the convenience of electronic invoice presentment and payment (EIPP) to the plastics industry through an alliance with BillingZone, one of the leading business-to-business EIPP providers and the industry’s only consolidation service. With the addition of the BillingZone™ service, buyers ordering from one or multiple suppliers via Omnexus can now conduct their entire procurement process, from initial searches for product availability to invoice presentment and payment, in an automated online environment.
Now available on Omnexus, BillingZone offers customers a reduction of manual payables activity, an automated process for dispute resolution and improved cash flow management. The BillingZone consolidator model also allows Omnexus customers to view and pay invoices from multiple suppliers who present invoices through the service.
“Omnexus is breaking new ground in procurement as the first eMarketplace in the plastics industry to offer not only live electronic invoicing, but online settlement,” said Michael Walsh, CFO and interim CEO for Omnexus. “BillingZone allows our customers to pay multiple suppliers on one site from one platform. Its EIPP service will allow our customers to complete the order-to-cash cycle electronically, taking paper completely out of the equation, lowering payment processing costs and making it easier for them to do business.”
Additional features and benefits of the Omnexus EIPP service include:
• Online account administration with user-specified account access
• Personalizable invoice & payment details
• E-mail notification
• Multi-tiered, online invoice approval routing
• Auto-invoice scheduling, and controlled payment timing
• Full customer support supplemented by online assistance
• Online issue tracking and reporting
“The introduction of EIPP to the plastics industry through Omnexus now offers companies adopting eProcurement a completely automated online order process from initial order to final payment—further increasing the time and cost savings available to plastics buyers through Omnexus,” said Eric Smith, chief executive officer at BillingZone. “The BillingZone EIPP service will expand the services and supply chain value for Omnexus in the plastics industry and beyond.”
Reader enquiries
Omnexus
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8804 Au/Wädenswil
Switzerland
Notes for editors
About Omnexus
Omnexus is the global, neutral eMarketplace focused on delivering products and related services to the plastics industry. Founded and supported by the plastics industry, Omnexus currently consists of a growing list of more than 20 global suppliers, including ATOFINA, BASF AG, Bayer AG, Biesterfeld, Clariant, Demag Ergotech, Distrupol, Dow Chemical, DSM, DuPont, Engel, Entec, Muehlstein, Performance Polymers, PolyOne, Resinex & Ravago, Solvay Ticona and Van Dorn Demag.
The Omnexus solution provides a single point of connectivity for plastics processors and suppliers and is an efficient, cost-effective method of eProcurement. Omnexus is currently operational in North America and Europe and will service Asia and the rest of the world by 2002. Global headquarters for the company are located in Zurich, Switzerland. North American headquarters are in Atlanta, Ga.
About BillingZone
BillingZone, LLC, offers a business-to-business electronic invoice presentment and payment service that provides businesses a consolidated model for presenting, reviewing, and paying invoices on the Internet. The BillingZoneTM service helps companies streamline the complexity of invoicing and payment processes, realize cost savings by eliminating paper and manual processes, and speed up the communication between companies and their customers. P&G, Diebold, Xerox, and Saint-Gobain Corporation are just some of the companies recognizing significant benefits through their use of the BillingZone service. BillingZone, LLC, is a joint venture of two industry leaders, PNC Bank, N.A., a member of The PNC Financial Services Group, Inc. (NYSE: PNC), and Perot Systems Corporation (NYSE: PER). Please contact BillingZone, LLC at (412) 705-3000 or via e-mail at info@billingzone.com. Additional information is available on the company’s web site at www.billingzone.com.
Editorial enquiries
Paulien Boumans
EMG
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Omnexus
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AH&M Marketing Communications