ISPnext

ISPnext offers Business Spend Management (BSM) solutions designed to enhance an organization's financial impact. The company provides a comprehensive suite of tools that automate and streamline various aspects of the procurement and financial processes. ISPnext's platform includes modules for AP Automation, Dynamic Discounting, Vendor Management, Contract Management, Procurement, Sourcing, Spend Analytics, Supplier360, and Rebate Management.

The AP Automation solution aims to reduce administrative work by digitizing, matching, and approving invoices, leading to significant cost savings in invoice processing. Dynamic Discounting enables organizations to arrange attractive discounts with suppliers by facilitating faster invoice payments, improving cash flow and generating savings. The Vendor Management module provides a central environment for managing supplier databases, offering insights into expenses, contracts, risk profiles, and supplier assessments. Contract Management automates the entire contract lifecycle, from preparation to renewal or termination, including approval and digital signing processes.

ISPnext's Procurement solution automates the purchasing process, generating order recommendations and facilitating orders with preferred suppliers through linked online shops. The Sourcing module manages the procurement process from identifying needs to contract signing, helping organizations find the best suppliers based on internal requirements and project specifications. Spend Analytics offers a unified view of all spending through best practice dashboards, allowing organizations to identify bottlenecks and take timely action. The Supplier360 feature provides a comprehensive overview of the supplier chain, compiling real-time data from multiple sources into a centralized master data cloud. Lastly, the Rebate Management solution enables more effective management and utilization of bonus agreements.

ISPnext's platform is designed to cater to various industries, including wholesale, retail, food & drink, manufacturing, construction, transportation & logistics, healthcare, government, business services, and financial services. The company emphasizes the importance of having an automated Source-to-Pay process to achieve a sustainable business model and maintain control over budgets and compliance with laws and regulations.

Key Customers and Partnerships

As of September 2024, the company claims to have served over 400 organizations. ISPnext has integrated with ERP systems such as SAP, JD Edwards, Microsoft D365, Infor and Exact Online.The company recently partnered with IFS Ultimo to improve financial and asset management processes for their clients.