December 19, 2006 11:00 ET

Xign and The Hackett Group Announce Executive Seminar Series on Financial Settlement Excellence

Web Seminar Series to Highlight Latest Best Practice Insights for Operational and Working Capital Value Creation in the Settlement Cycle

PLEASANTON, CA -- (MARKET WIRE) -- December 19, 2006 -- Xign Corporation, the operator of the leading settlement network for business, announced the renewal of its advisory relationship with The Hackett Group, a strategic business advisory firm and an Answerthink company (NASDAQ: ANSR), to produce an executive web seminar series on financial settlement excellence. Over the past two years, more than 1,300 finance, procurement, treasury and IT executives have participated in previous joint Xign-Hackett web seminars. In 2007, the executive seminar series will continue to focus on best practice insights and case studies for achieving real operational and working capital savings through electronic settlement.

The Xign executive web seminar series featuring The Hackett Group is designed for senior executives with responsibility for Purchase-to-Pay excellence. Offered quarterly, the free web seminars address a variety of electronic settlement topics, including best practice strategies, supplier enablement programs, working capital optimization, performance management, and common transactional strategies such as imaging, EDI and electronic invoicing.

"Electronic settlement is now broadly recognized as a best practice approach to optimizing corporate finance operations," said Chris Sawchuk, Hackett Procurement Practice Leader. "Our benchmarks continue to show that top-quartile companies have highly automated financial settlement operations, and we look forward to sharing our benchmarking and business consulting expertise with more companies looking to achieve Purchase-to-Pay excellence."

The first Xign-Hackett Group web seminar, scheduled for January 2007, is entitled, "Optimizing Working Capital for Buyers and Suppliers." The seminar will explain how electronic settlement can have a dramatic positive impact on earnings and cash return for buyers and on days sales outstanding or DSO for suppliers. The seminar will show how the cash returns from early payment discounts are substantially higher than conventional cash management strategies of delaying payments to earn interest off float. To register for this seminar, visit

"The operational value of electronic settlement is well understood, yet too many organizations ignore the potential for accounts payable to drive significant improvements in working capital management and cash return," said George Fan, Xign vice president of marketing and general manager of Supplier Services. "We look forward to working with The Hackett Group to help educate global enterprises on the strategic value of electronic settlement and the positive working capital impact it delivers across their supply chain."

About The Hackett Group

The Hackett Group (, a strategic advisory firm, is a global leader in best practice research, benchmarking, and business transformation services that enable world-class performance across selling, general & administrative (SG&A) and supply chain activities. Hackett provides strategic insight, best practice advice and implementation services grounded in performance metrics obtained through 14 years and 3,500 benchmark studies at 2,100 of the world's leading companies. Hackett clients comprise 96 percent of the Dow Jones Industrials, 77 percent of the Fortune 100 and 92 percent of the Dow Jones Global Titans Index.

About Xign Corporation

Xign Corporation operates the leading global settlement network for business. Xign's suite of on-demand applications is the first to automate the complete commerce cycle -- from electronic order delivery to electronic invoice and payment processing -- to streamline operations and monetize working capital. With more than $100 billion in transactions processed and a fast growing network of 40,000-plus global suppliers, Xign offers the most complete and widely deployed service of its kind. Customers include Fortune 2000 companies across many different industries such as Bristol-Myers Squibb, Honeywell, MetLife, Payless ShoeSource, RadioShack Corporation, Southern Company, Sprint, United Rentals, and Verizon Wireless. Xign is headquartered in Pleasanton, CA. For more information, visit

Xign is a registered trademark of Xign Corporation.

Contact Information

  • Company Contact:

    Christopher Rauen
    Xign Corporation
    Tel: 925-251-4514
    Email: Email Contact