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Xign Solidifies Communications Services Market Leadership With Verizon Wireless Agreement

Posted on: Monday, 20 March 2006, 09:00 CST

PLEASANTON, Calif., March 20 /PRNewswire/ -- Xign Corporation, the leading provider of on-demand Order to Pay software, today announced that Verizon Wireless, a joint venture of Verizon Communications and Vodafone, has chosen Xign to automate its Order to Pay operations. With this agreement, Verizon Wireless will use Xign's on-demand service to streamline order delivery, invoice processing, and payment management.

The Xign shared supplier network was a significant factor in Verizon Wireless's selection of Xign. Suppliers already enrolled in the Xign network account for more than 50 percent of Verizon Wireless's annual spend, substantially mitigating the deployment risk and accelerating the return on investment. These suppliers-which include small and mid-size companies as well as prominent handset and network equipment providers-can conduct electronic Order to Pay transactions with Verizon Wireless immediately. Verizon Wireless also cited Xign's on-demand approach and track record of successful implementations within and outside the communications services sector as important advantages of the Xign solution.

"Xign Order to Pay allows us to eliminate paper, increase visibility into our payables transactions, and lower our cost of operations," said Joe Selewicz, Verizon Wireless staff vice president and assistant controller. "The opportunity to capture more early payment discounts will significantly increase the return on investment. By leveraging Xign's industry experience and Verizon suppliers already in the Xign network, we will achieve our corporate finance objectives quickly and with little risk."

"Today's announcement reinforces Xign's leadership position in the communications services market and the growing power of our shared supplier network," said Tom Glassanos, Xign president and CEO. "With thousands of suppliers already in the Xign network, communications services providers get a significant head-start when launching electronic Order to Pay processing with Xign. I look forward to helping Verizon Wireless achieve a rapid payback from its Order to Pay initiative."

About Verizon Wireless

Verizon Wireless owns and operates the nation's most reliable wireless network, serving 51.3 million voice and data customers. Headquartered in Bedminster, NJ, Verizon Wireless is a joint venture of Verizon Communications and Vodafone (NYSE and LSE: VOD). Find more information on the Web at http://www.verizonwireless.com/.

About Xign Corporation

Xign Corporation is the leading provider of on-demand Order To Pay solutions for business to business commerce. 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 over $80 billion in transactions processed and a fast growing network of more than 25,000 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, MetLife, Payless ShoeSource, RadioShack Corporation, Southern Company, Sprint, T-Mobile and United Rentals. Xign is headquartered in Pleasanton, CA. For more information, visit http://www.xign.com/.

NOTE: Xign is a registered trademark of Xign Corporation.

Xign Corporation

CONTACT: Christopher Rauen of Xign Corporation, +1-925-251-4514, orchris.rauen@xign.com; or Michelle Sabolich of Atomic Public Relations,+1-415-402-0230, or michelle.sabolich@atomipr.com, for Xign Corporation

Web site: http://www.verizonwireless.com/http://www.xign.com/

Source: PRNewswire

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