Our Process Through J.P. Morgan/Xign
We are delighted to announce the launch of an important initiative that will help reduce costs and improve productivity for our vendors. This new solution will offer you fast, effective, flexible electronic order handling and invoicing, improving the way you share data and receive payments from Sealed Air.
To accomplish this, we’ve partnered with J.P. Morgan/Xign who will host the new service on our behalf. J.P. Morgan/Xign's basic service for this program is available to you at no charge. However, a minimal charge may be incurred for e-file mapping, customized remittance mapping, and FTP relationship set-up’s.
- Receive Purchase Orders electronically (the current method will be available for a period)
- Ability to create Advance Shipping Notices (ASN) and Purchase Order Acknowledgements (ACK) electronically.
- Submit invoices electronically, thereby eliminating paper and mail costs.
- Receive payments electronically, avoiding mail delays
- View current status on any invoice you submit electronically.
- Validation of invoices at submission allowing you to identify and correct issues that would delay processing.
- Visibility to billing exceptions and disputes.
- Reports on invoice aging and forecast cash collections from scheduled payment dates.
Through the J.P. Morgan/Xign Business Settlement Network, we can approve invoices rapidly and consistently pay you on time.
Implementation
We will be implementing this process in several steps. Currently we are inviting suppliers in North America on a bi-weekly basis to participate in this program with the intention of moving our entire vendor base to this process. In 2009 we will start rolling out this same program in Europe. Our supplier partners in North America, please note, in order to take full advantage of this new functionality through J.P. Morgan/Xign, you will be required to submit one invoice per shipment. Please contact your purchasing agent to clarify any process questions or concerns you may have.