NextGen Offers Electronic Invoicing
Company:
Headquarters: Montreal
Technology Sector: Software
Key Product: Electronic Invoicing
Year Founded: 2004
Number of Channel Partners: 6 in North America
Ideal Channel Partner: Enterprise-focused solution providers
Why You Should Care: NextGen's horizontal financial management and electronic invoicing platform delivers solid margins for resellers who want to deliver what companies want today more than ever -- reduced operating costs while adhering to compliance guidelines.
The Lowdown: NexGen is a small Canadian company aiming for big engagements with any organization that does enough invoicing to seriously consider going "paperless" with the software vendor's enterprise-class electronic invoicing platform, said CEO Heidi Pollack.
"For us, it's not about the size of the company, it's about the amount of paper they push," she said. "Our e-invoicing solution is ideally suited to eliminate paper invoices as well as the costs associated with scanning, data entry and exception handling."
NextGen's software platform pulls invoice data directly from a supplier's billing system, validates and enriches it, and then delivers it directly into a customer's ERP system. That's key, Pollack said, because there is never any paper to print, manage or store, and customers can automate their workflow, vendor inquiries and remittance advices.
The vendor's collaborative electronic invoice management platform for AP invoice processing also compliments legacy ERP and enterprise content management (ECM) environments, she said, helping companies extend the value of their ERP and ECM/OCR investments.
"The NextGen Web portal is a flexible, horizontal solution for any company size in any vertical that faces paper-intensive invoice processes," she said, highlighting the software platform's "strong value proposition" for channel partners serving government clients.
Pollack offered a couple of paths to market for VARs partnering with NextGen, including using the vendor's products and services to "add value to an OCR offering or be a value-added replacement for the process."
How does a partner go about selling a customer on e-invoicing?
"When paper is replaced with electronic connections between vendors and buyers, it works like magic, and the return on investment is easy to quantify. Second, VARs can perform professional services to help connect the electronic invoices into the buyer's ERP system. This deepens the customer relationship and makes you money," Pollack said.
NextGen partners can also build an incremental revenue stream based on transaction volume and user needs, and build a referral-based business by exposing the technology to community users, she added.