Tieto to provide e-invoicing service over SWIFT

September 26, 2011  |  Adoption, Electronic Invoicing

Tieto, Nordea and Bottomline Technologies have taken a further step in order to expand the reach for their e-invoicing customers. Bottomline Technologies and Tieto are now exchanging e-invoices using ISO 20022 Financial invoice content standard and SWIFT’s network. Invoices will be sent from Tieto further via Nordea to the receiving customer Stora Enso Finland.

In addition to the role of an e-invoicing service provider, Tieto acts as a SWIFT Service Bureau and is thus able to provide SWIFT connectivity to any interested corporate customer - for both Cash management and trade finance services.

Within the financial services industry, Nordea is the forerunner of providing e-invoicing services to corporate users.  Nordea and Tieto have a long lasting co-operation in e-invoicing services and this new connection opens remarkable new possibilities and strengthens their services to their customers.

André Casterman, Head of Cash, Trade and Supply Chain, SWIFT, states:” We believe a true four-corner model based on open standards is the only viable way forward. It is important that corporates can work with their chosen e-invoicing provider, and then the providers create interoperability. The first users of our solution for e-invoicing demonstrate that SWIFT can bridge banks and non-bank e-invoicing service providers across the borders. With the ISO 20022 Financial invoice standard e-invoices also connect to payments and financing services”.

Masood Arai, Nordic Head of Payment and Collection Services, Nordea, emphasizes the importance of joining forces. “This is a remarkable milestone in e-invoicing as it shows what can be achieved via true cooperation and the possibilities in terms of e-invoicing customer offerings. The main goal of reaching for new opportunities is to enable better customer services and create great customer experiences.”

Tapani Turunen, responsible for e-invoicing product area in Tieto, regards this clear evidence of the well-established and true interoperability based on international standards. “We see this new opportunity a real advantage for internationally operating corporates. E-invoicing based on existing global and secure network and international message standard builds good foundation for e-invoicing fast deployment.”


Related Posts

1 Comment

  1. SWIFT e-Invoicing and the four corner model…

    Bottomline this week ‘announced it has gone live with a secure, real-time solution for sending and receiving invoices electronically via the global SWIFT network. E-invoicing presents a significant opportunity for banks and their corporate customers to streamline paper-laden processes and reduce costs while increasing visibility into the financial supply chain.’

    Read more here - http://eeiplatform.com/5099/tieto-to-provide-e-invoicing-service-over-swift/