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Xign Customers Receive “Best Practice” Awards for Operational Excellence in Accounts Payable Payless ShoeSource and Memorial Sloan-Kettering Cancer Center Recognized for Innovation and Leadership PLEASANTON, Calif., – July 5, 2005 – Xign Corporation, the leading provider of on-demand Order to Pay automation, today announced that the research firm AberdeenGroup recognized Xign customers Payless ShoeSource and Memorial Sloan-Kettering Cancer Center as “best practice” operators in accounts payable. The companies were profiled in a new report titled, “Accounts Payable Success Stories,” which examined best practices within accounts payable and identified key areas where companies are realizing substantial benefits. To better understand the strategies for success in accounts payable, AberdeenGroup conducted a benchmark study of over 700 companies and evaluated in-depth the practices at 25 companies. Payless and Memorial Sloan-Kettering were two of just seven companies ultimately recognized for best practices in the report. Both were chosen based upon their use of electronic payables processing and the resulting impact on invoice processing costs and labor requirements, on-time payments, and early payment discount capture. Electronic payables processing is achieved using an on-demand software application that manages the electronic transmission of purchase orders, invoices and payments across the Internet. The process starts with the delivery of an electronic purchase order and management of related electronic documents such as order confirmations and advance shipping notices. It continues with the creation and processing of an electronic invoice, and concludes with an electronic payment delivered with full remittance—the information that suppliers use to confirm collections. By shifting from a paper to an electronic payables process, businesses can reduce their financial settlement costs by over 50% and greatly enhance visibility and control necessary for Sarbanes-Oxley compliance. Furthermore, by leveraging a faster settlement cycle, working capital can be optimized to the benefit of both buyers and suppliers. “Aberdeen’s findings confirm the import of AP automation as a key finance initiative for cutting costs and improving compliance,” said George Fan, Xign vice president of marketing. “We congratulate Payless and Memorial Sloan-Kettering on their success and look forward to assisting other industry innovators as they strive for operational excellence in accounts payable.” The complete Aberdeen report highlights drivers influencing process transformation and deployment best practices. Based on its findings, Aberdeen provides recommendations for creating a more strategic role for Accounts Payable, selecting the right scope, enabling suppliers and involving the entire organization in the process. To access the Aberdeen report, “Accounts Payable Success Stories,” visit: https://www.aberdeen.com/link/sponsor.asp?spid=30410112&cid=1948 About AberdeenGroup Founded in 1988, AberdeenGroup Inc., is the trusted advisor to the global business executive for value chain strategies and business advice. About Xign Corporation Xign Corporation is the leading provider of on-demand Order to Pay automation, with more than $60 billion in transactions processed, a fast growing network of more than 25,000 suppliers, and business partners that include JPMorgan Chase and MasterCard International. For more information, visit www.xign.com. Xign is a registered trademark of Xign Corporation. Company Contact: Christopher Rauen Xign Corporation 925-251-4514 [e-mail] Agency Contact: Chris Greenfield Project PR for Xign 650-233-8283 [e-mail] JMHO TIA