New Paymetric XiBuy 2.0 Extends Purchasing Card Processes within SAP – from Requisition and Purchase Order to Payment and Reconciliation

Orlando, FL – from the National Association of Purchasing Card Professionals Conference – April 3, 2006 – Paymetric™, Inc., the leading provider of ERP-integrated payment card solutions, delivers end-to-end purchasing card expense management for the SAP enterprise with the newest generation of its popular XiBuy solution. XiBuy 2.0 integrates purchasing cards with SAP at the onset of the order creation, subjecting purchasing card transactions to the same requisition-to-order process as traditional orders in SAP. This repositions purchasing cards from a non-strategic payment vehicle to an SAP business process enabler.

Purchasing cards effectively reduce the cost and increase the efficiency of corporate purchasing. Yet, most organizations manage card transactions outside of the SAP enterprise, an approach that inhibits financial supply chain efficiencies. XiBuy 2.0 empowers organizations to:

• Improve purchasing card program efficiency, visibility and control; viewing financial and transaction data centrally within SAP;
• Extend purchasing card spend to additional spend categories, including services and direct materials and other high-value purchases;
• Allow a purchasing card to be assigned to an SAP Purchase Order and efficiently reconcile the resulting transaction in SAP’s FI module; and
• Streamline month-end reconciliation.

With Purchase Order Expense Management, a key new module in XiBuy 2.0, a purchasing card can be designated on a Purchase Order in lieu of checks, ACH, and other labor-intensive forms of payment. Soon after a card purchase, XiBuy 2.0 makes the transaction detail available in SAP. Transactions initiated in SAP with XiBuy can be reconciled automatically or manually with their Purchase Orders, while transactions initiated outside of SAP can be reallocated, approved and posted. XiBuy uses the resulting card transaction to create an Invoice Receipt, thus completing the three-way match between the Purchase Order, the Goods Receipt, and the Invoice.

XiBuy 2.0 supports multiple card programs, allowing purchasing cards, Travel & Entertainment cards, and multi-issuer card programs to be centrally managed through one solution. The program also leverages SAP’s Change Document functionality, enhancing the card audit trail by tracking reallocations and other detail changes made to transactions. The new user interface found in XiBuy 2.0 adheres to SAP design principles, enabling users to quickly become proficient in its use.

“The inefficiencies of integrating and reconciling card transactions with the procurement process is a primary reason why most organizations relegate purchasing cards to low-value, high-volume transactions that don’t require Purchase Orders,” said Greg Tonini, Product Manager – Procurement Solutions for Paymetric. “XiBuy 2.0 removes the disconnect between purchasing cards and Purchase Orders, enabling organizations to maximize efficiency, gain control, facilitate card program growth, and realize other inherent advantages of card use. With XiBuy 2.0, purchasing cards become a strategic component of total spend management.”

XiBuy 2.0 features SAP Certified Integration and is Certified for SAP NetWeaver™. Working natively within SAP, XiBuy 2.0 utilizes SAP’s controls and validations as it allocates, approves, posts and reconciles purchasing card transactions. This central repository for financial and transactional data reduces the number of applications required for card program management and accelerates approvals through real-time validation. XiBuy 2.0 supports MasterCard, Visa and American Express card programs.

About Paymetric, Inc.
Paymetric, Inc. provides financial supply automation solutions for credit card and payment card transactions, enabling organizations to integrate buying and selling functions into their ERP-enabled business operations. For businesses accepting cards, Paymetric seamlessly integrates card transactions across the enterprise and through financial institutions to enhance cash flow, reduce days outstanding and increase compliance with processors. For organizations with purchasing card programs, Paymetric integrates card activity into the procure-to-pay process for greater expense control, increased financial visibility, and consolidated procurement records. An Austin Ventures portfolio company, Paymetric is an award-winning SAP partner and a certified SAP developer. Visit www.paymetric.com for additional information.

Contact
Christina Chau, Marketing Director, 713.895.2000, cchau@paymetric.com