E-invoicing could help businesses cut costs as they brace themselves for recession

September 17, 2008  |  Uncategorized  |  Comments Off

The technology is moving to the mainstream as the European Commission pushes it as part of its drive to cut costs in supply chains.

The Corporate Action on Standards project, set up by the European Payments Council, said that e-invoicing allows companies to cut the average EUR30 cost of processing a paper invoice by 80%.

Businesses that want to take advantage of e-invoicing can do it themselves, use an e-invoicing service provider or work with their banks.

Stefan Foryszewski, senior vice-president at e-invoicing service provider OB10, says businesses are looking at e-invoicing but only “the more enlightened ones.”

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 “The market is still fairly immature but awareness is beginning to grow,” he says.

Forysewski advises businesses moving to e-invoicing to ensure that their enterprise resource planning (ERP) systems are compatible with the system they chose. They must ensure the system they chose can be easily integrated with all suppliers. And they must ensure they comply with the taxation laws in the different regions they receive invoices from.

Building an e-invoicing system is challenging for companies to do on their own and the capital investment required may be hard to justify as the economy slows.

DHL began rolling out an electronic invoicing and payment system from Accountis in July last year. The project aims to save millions of pounds across Europe by reducing billing costs by 15%.

Brian Thumwood, e-billing programme manager at DHL, says the company chose a third-party supplier to avoid the risks of building its own system. “We looked at doing it ourselves but the complexities associated with the legal structure in different countries and the technology made us work with a supplier.”

Businesses only need minimal technology in place to use a third-party service, such as dedicated servers, a connection to the e-invoicing service, and the use of workflow systems.

Peter Ratcliffe chairman of Accountis points out that many e-invoicing suppliers have been bought up by larger businesses which means their software is no longer commercially available. For example, E-invoicing software providers Harbor Payments and Xign were acquired by American Express and JP Morgan respectively in 2007. As a result, companies that set up their own e-invoicing services would have to write their own software, he says.

Banks are using e-invoicing service providers to create their own services. Abbey launched a corporate e-invoicing service in July last year in partnership with e-invoicing network provider OB10, as part of a service to offer finance to supply chains.

Tom Crowe, director of sales and delivery financial supply chain solutions at Abbey Corporate Banking, says take up of e-invoicing is slow because it is a new concept in the UK.

But he said that businesses will take it up because of the savings that can be made. “Anything they can do to make businesses more efficient they are keen to look at particularly in a period of economic uncertainty,” he says.

The Royal Bank of Scotland (RBS) has announced that the first customers of its e-invoicing system, provided by Accountis are going live this month.

In the current economic climate an 80% reduction in the cost of a paper invoice will be attractive to business managers attempting to cut unnecessary costs. IT departments must, however, decide how they are going to implement e-invoicing to maximise the return on investment.

What is E-invoicing?

E-invoicing is an alternative to Electronic Data Interchange (EDI) as a method of dealing with supply payments electronically. It also helps get the best out of ERP systems by automatically putting more accurate information into the systems.

E-invoicing uses the internet to connect businesses with their suppliers and automates the processing of invoices in accounting systems. It speeds up payment times, improves the information in ERP systems, reduces the human resources required and eradicates inputting errors. It also cuts postage costs and reduces waste paper.

EDI is a point-to-point computer connection between a business and a supplier which uses a network provider to process transactions. Large businesses use this method to connect with their major suppliers.

Published by Computerweekly.com

 

US based Clopay® selects the TIE Kinetix e-Invoicing solution

September 17, 2008  |  Uncategorized  |  Comments Off

Leading Garage Door, Embossed Barrier and Breathable Plastic Film Manufacturer selects TIE’s EDI Outsourcing Solution for Supply Chain Efficiency

Master Data Management Software Company TIE Holding N.V. (“TIE”) listed on the NYSE Euronext Amsterdam Stock Exchange hereby announces that Clopay® has selected TIE to provide a fully integrated TIE Kinetix
e-Invoicing solution to drive supply chain efficiency between the company and their customers and business partners.

TIE’s powerful translation capabilities have enabled Clopay to effortlessly transact business and manage more than 17000 transactions per month without error. The overall costs for data storage and software execution have been significantly reduced, and the time dedicated to both new trading partner set up and integration formats have been reduced by 75%.

As a result of Outsourcing it’s EDI to TIE; Clopay has experienced an annual cost savings of over $80,000 in the first year of service. “TIE has years of experience in supporting the operation of mission-critical electronic commerce  processes in the area of communications and document mapping requirements specified by our customers in the retail and manufacturing industry.”, said Carmel Hierth, Director of IT for Clopay.  “We have been able to keep the headcount down in our department while maintaining system integrity to support our business and meet our trading partner requirements. Outsourcing our managed EDI services to TIE has been one of the best business decisions that Clopay could have made”.

“Clopay understands that technology investments outside the enterprise can deliver strategic value to their business and customers,” says Jan Sundelin, CEO of TIE. “Clopay has consolidated its EDI operations with TIE and now is able to focus on improving and optimizing its business processes and customer relationships.”

Clopay needed a more efficient way of managing their EDI applications and found day-to-day operations of an in-house EDI program intensive and expensive.  Recognizing these needs, the Clopay technical and
business teams saw the effort to consolidate EDI operations as an opportunity to utilize business process integration with all its customers and partners across the supply chain.

TIE worked very closely with Clopay to provide a fully outsourced B2B integration solution utilizing datacenter infrastructure provided by SUNGARD Availability Services®. This solution not only supported the
integration of the company’s internal business processes, but more importantly enabled direct connections between the business processes of Clopay and its trading partners. TIE’s user interface provided Clopay with an easy-to-use system with any-to-any mapping capabilities that ensured flexibility enough for future integration efforts.

About Clopay®
Building Products Division - With four manufacturing facilities and 49 distribution centers across the U.S. and Canada, Clopay is North America’s leading manufacturer of residential garage doors and a leader in the industrial door market.  Bringing more than 40 years of leadership to the garage door industry, Clopay is the only garage door manufacturer to hold the Good Housekeeping Seal.

Profile TIE
TIE bridges the gap between online and traditional business. TIE helps industry and supply chain partners to achieve electronic business collaboration with solutions in the traditional and upcoming markets like Data Quality Management, e-Invoicing, Master Data Management and Digital Channel Communications. Our solutions are proven to lower costs, increase revenue and optimize business processes. Because we have decades of experience to share, TIE remains a key contributor to the development and implementation of
global eCommerce standards. TIE is a publicly held company with offices in the United States, France, and the Netherlands.

Further information:
TIE Holding N.V.
Jan Sundelin, CEO
Antareslaan 22-24
2132 JE Hoofddorp
The Netherlands
Tel:     +31-20-658 93 33
Fax:    +31-20-658 90 01

e-mail: [email protected]
Web site:  http://www.TIEglobal.com
PR bureau: PublieksWerk B.V.

How green is your invoice?

September 16, 2008  |  Uncategorized  |  Comments Off

Ifor Williams of Accountis, a Fundtech company, talks in this video about how the industry is getting more focused on the environmental benefits of embracing e-invoicing, amidst a wider trend to take corporate social responsibility more seriously. 


 

Source: Sibos Online

     

Pitney Bowes MapInfo Introduces MapXtreme(R) 2008

September 16, 2008  |  Uncategorized  |  Comments Off

Pitney Bowes MapInfo Introduces MapXtreme(R) 2008, Newest Version of .NET-based Location Intelligence Platform

Enables Organizations to Develop Customized, Interactive Mapping Applications for Enhanced Analysis and Improved Decision-Making TROY

Pitney Bowes MapInfo, the leading global provider of location intelligence, today introduced MapXtreme® 2008, the next generation of its Microsoft® .NET-based location intelligence platform. Leveraging applications developed with the MapXtreme software developer kit (SDK), organizations can integrate location intelligence with existing business systems, enabling them to make better strategic decisions and more effectively manage and protect assets.

Fully integrated with the Microsoft .NET development environment Visual Studio 2008, MapXtreme 2008 enables software developers and IT professionals to create custom mapping and location intelligence applications that provide tailored views of geographic data and automate and augment business processes. Applications created with MapXtreme can be deployed on both the Internet and desktop, helping reduce application development time and costs when building new applications or enhancing existing applications with location intelligence.

“MapXtreme’s powerful mapping and analysis capabilities have enabled us to create a versatile community portal that allows the Town of Cary, North Carolina, to create new Web access to town map data and easily share valuable information through their “Maps Online.” This gives both town employees and the public easy access to current town data, helping them make faster, more informed decisions,” said James Henry, MapInfo Public Sector Partner and Developer, JCH GeoInfo Solutions. “The comprehensive, Web-based tool integrates with our Microsoft environment, enabling us to take advantage of all the latest .NET application programming interfaces (API). With MapXtreme 2008, we’ll be able to develop rich AJAX Web applications that take advantage of the latest mapping advances, including translucent layers, curved labeling, enhanced label placement and anti-aliasing. MapXtreme 2008’s design allows us to create Maps Online and other applications that provide easy, versatile information sharing for government agencies and commercial organizations.”

“Location intelligence enables businesses and government organizations to answer the complex question of ‘where?’—a critical factor in making sound strategic and operational decisions that improve operational performance,” said Robert Pipe, Vice President, Product Management & Product Marketing - Location Intelligence, Pitney Bowes Software. “With the ability to quickly develop custom location intelligence applications, organizations can visualize and analyze data to discover new relationships and trends – insight that drives more intelligent decisions.”

MapXtreme 2008 also reflects the company’s commitment to interoperability through the support of geospatial standards from the Open GIS Consortium, extending the number of data sources that users can access. More information about MapXtreme, including a free, downloadable evaluation SDK, can be found at: www.mapinfo.com/mapxtreme2008.

Availability
MapXtreme 2008 is now available.

About Pitney Bowes MapInfo
Pitney Bowes MapInfo, part of Pitney Bowes Inc. (NYSE:PBI), is the leading global provider of location intelligence solutions, integrating software, data and services to provide greater value from location-based information and drive more insightful decisions for businesses and government organizations around the world. The company’s solutions are available in multiple languages through a network of strategic partners and distribution channels in 60 countries. Visit www.mapinfo.com and www.pb.com for more information.

Equens partners ICBPI and Isabel on European e-invoicing pilot

September 16, 2008  |  Uncategorized  |  Comments Off

European payments processor Equens and Italy’s ICBPI Group are teaming up to establish a multi-party cross-border electronic invoicing network and have recruited Belgian service provider Isabel as the first pilot participant.

Equens says it will work with ICBPI to “bridge local solutions” in order to enable banks, corporates and service providers to extend their services in Europe.

Commenting on the project Giuseppe Capponcelli, MD, ICBPI Group, says: “This cross-border joint initiative on e-invoicing will allow us to be a first mover in the European scenario and to enhance our corporate banking services. The first international e-invoicing pilot is a win-win initiative that allows the founding partners to extend their reachability to other important trade markets.”

Isabel - which provides electronic banking and invoicing services - is the first to sign up, although other service providers will be invited to join the initiative says Equens.

Says Luc Van Hecke, international sales manager of Isabel: “This pilot project is a great opportunity to enhance our experience in electronic invoicing and to promote interoperability at European level.”

Equens estimates that over 90% of all invoicing worldwide is still paper-based.

The European Commission said last year that the introduction of the European electronic invoicing (EII) network could reduce supply chain costs by EUR243 billion across Europe and help to streamline business processes and drive innovation.

The introduction of an e-invoicing system for public sector firms in Denmark has saved an estimated EUR100-134 million per year, according to a report by an EC task force on e-invoicing.

The EC said it would set up a steering committee to oversee the establishment of a common invoicing framework that would allow businesses across the region to send invoices and receive corresponding payments electronically.

However separate research released by Sterling Commerce at Sibos has found that European businesses are being held back from implementing e-invoicing systems due to the complexity of addressing regulatory compliance requirements and legislation.

The survey of 400 IT managers in the UK, France, Germany and Italy conducted by Vanson Bourne found that the most pressing “e-invoicing concern” for businesses across Europe is “compliance with national e-invoicing legislation”.

In addition, more than half of the companies surveyed admitted they were concerned about supporting disparate e-invoicing systems across multiple geographies.

Chris Hayes, senior product marketing manager, Sterling Commerce, says: “The benefits of moving from paper-based to e-invoicing are widely known and accepted, yet the reality for many European businesses is that even for e-invoicing projects which do receive budget approval, a dependence on multiple solutions to handle compliance with multiple VAT and tax regulations across different territories, is ultimately undermining project success.”

Source: Sibos Online

    

PayPal and OB10 team on e-invoicing

September 13, 2008  |  Uncategorized  |  Comments Off

PayPal has teamed with electronic invoicing outfit OB10 to create an automated e-invoicing application for the UK business community.

Under the partnership, invoices sent by PDF will incorporate a PayPal button which the customer just clicks to arrange payment.

The payments can then be made by credit and debit cards, bank transfers or PayPal balance, meaning customers don’t have to wait for cheques to clear.

OB10 says the partnership - initially for the UK market only - will help businesses streamline invoicing and payment process, improving efficiency and transparency within the financial supply chain.

Cameron McLean, general manager, merchant services, PayPal, says: “The PayPal and the OB10 eBilling product will provide businesses with the opportunity to optimise their working capital cycle - an incredibly powerful proposition in today’s economic climate.”

Last year the European Commission (EC) set up a steering committee to oversee the establishment of a common invoicing framework that would allow businesses across the region to send invoices and receive corresponding payments electronically.

According to a report produced by an “informal task force” on e-invoicing, the introduction of the European electronic invoicing (EII) network could reduce supply chain costs by EUR243 billion across Europe and help to streamline business processes and drive innovation.

Attention has also turned to the environmental costs of paper-based invoicing. According to stats produced by the Euro Banking Association, a one per cent increase in the adoption of e-invoicing in Europe would save 800,000 trees annually.

Source: Finextra

Basware among five largest ePurchasing Vendors

September 12, 2008  |  Uncategorized  |  Comments Off

Basware among five largest ePurchasing Vendors Globally according to Independent Research Firm  Independent Report Estimates ePurchasing Software Market Growth to Continue at above Average Rate

Basware Corporation, a leading provider of Enterprise Purchase to Pay solutions, was among the select companies evaluated in the September 2008 Holistic View: The ePurchasing Software Market report published by Forrester Research Inc. Overall ePurchasing market is estimated to continue to grow strongly and Basware was evaluated to be among the five largest ePurchasing vendors globally. With the eProcurement market getting saturated at the largest enterprise level, according to Forrester “opportunity abounds for holistic offerings and specialists in specific products”.

Forrester interviewed more than 100 vendor companies for the report that provides a detailed review of the procurement market. The ePurchasing revenues continue to grow globally by 17% in 2008, at above average growth rate, the report states. Electronic Invoice Presentment and Payment (EIPP) market is estimated to grow even faster, at 26% CAGR. The report further states that “while products like eProcurement and eSourcing are widely adopted and have slower growth, other products like contract life-cycle management and electronic invoice presentment and processing (EIPP) have more limited adoption and great growth potential”. Forrester evaluates Basware to be largest vendor in the EIPP market.

“We believe in a holistic approach to the purchase to pay process – enabling companies to achieve immediate results and add improvements incrementally. We have recognized that instead of process or functional silos, purchase to pay should be seen as a value chain,” says Jari Tavi, CTO of Basware Corporation.

The Basware Enterprise Purchase to Pay solution suite includes solutions for Invoice Automation, Procurement and supplier integration. While some ePurchasing products are becoming commoditized, Forrester estimates innovation to continue for example in Contract Lifecycle Management (CLM). Basware has recently complemented its Procurement suite with a CLM solution that addresses the needs of companies to gain full control over contracts and leverage them more effectively.

“With the most recent additions to our portfolio, we now offer a full end-to-end solution that is unique in the purchase to pay arena,” continues Tavi.

The independent report is a continuation to Forrester’s “ePurchasing market” series. The series includes the Forrester Wave™: eProcurement Solutions, Q2 2007 report which is available for download at www.basware.com/forrester.
For further information, please contact:
Jari Tavi, CTO, Basware Corp., tel. +358 40 555 4488

About Basware
Basware is the global leader in purchase-to-pay solutions with more than 1,200 customers and 650,000 users in over 50 countries around the world. Basware solutions automate business-critical financial processes and deliver value by providing compliance and control, as well as fast return on investment. The solutions are distributed and implemented in Europe, the US, and Asia-Pacific through an extensive network of Basware offices and business partners.

In 2007, net sales reached EUR 73 million. The growth target for net sales for 2008 is 15–25%. Founded in 1985, Basware Corporation is a public company listed on the Nordic Exchange Helsinki. Headquartered in Finland, it has seven subsidiaries in Europe and one in the US. www.basware.com

 

European Commission and e-invoicing

September 9, 2008  |  Uncategorized  |  Comments Off

What is e-Invoicing?
Electronic invoicing - e-Invoicing - is electronic transfer of invoicing information (billing and payment) between business partners (supplier and buyer).

More information on the current legislative environment for e-Invoicing:

- Council Directive 2006/112/EC on the common system of value added tax

- Council Directive 2001/115/EC on the conditions laid down for invoicing in respect of value added tax

- Directive 1999/93/EC on a Community framework for electronic signatures

Why e-Invoicing?
It is an essential part of an efficient financial supply chain and it links the internal processes of enterprises to the payment systems. The ongoing creation of Single Euro Payment Area (SEPA) offers an ideal launching pad for a successful European e-invoicing initiative with the savings estimated at around EUR 64,5 billion per year for businesses.

Ongoing Commission initiatives
Among the Commission services involved in e-Invoicing initiatives are: DG Enterprise & Industry, DG Information Society & Media, DG Internal Market & Services, Taxation & Customs Union DG and DG for Informatics.

1. Expert Group on e-Invoicing
European Commission has set up an expert group on e-invoicing with the task to establish a European Electronic Invoicing Framework by 2009. The new expert group will build further on the report of the informal task force on e-invoicing.

Status Report of the Expert Group:

Meetings in 2008:

12 November

25 September

3 July

28-29 May

3-4 April

26 February

 

Setting up of the Expert Group on e-Invoicing:

- Members of the group

- Commission Decision 2007/717/EC setting up an Expert Group on electronic invoicing (e-Invoicing)
OJ L 289 of 7.11.2007, p. 38, Terms of reference for the work of the group on p. 42-44

- Call for applications, 2007/C 265/11, closed

Frequently asked questions


2. e-Government action plan

Under the e-government action plan a number of projects are undertaken to promote e-invoicing in the roadmap for public e-procurement. Within this action plan the Commission is setting up a pilot project for interoperable & cross-border e-invoicing within the IDABC programme.


3. CIP

The Commission is also setting up a large-scale e-invoicing pilot in collaboration with the Member States under the Competitiveness and Innovation Framework Programme (CIP).

Source: European Commission

4. CEN/ISSS

 

 

Oracle On Demand Now Integrates E-Invoicing and Imaging into Financial Solutions

September 7, 2008  |  Uncategorized  |  Comments Off

Oracle On Demand customers can now rapidly extend their Oracle financials solutions to include the 170 MarkView Financial Suite, a set of products from 170 Systems that integrates unstructured content such as paper, faxes, spreadsheets, and e-mail into key finance processes, from accounts payable to asset management.

“Because our products are already deeply integrated with Oracle E-Business Suite and PeopleSoft Enterprise financial applications, On Demand customers can simply ‘turn on’ our solutions as needed,” explains Karl Büttner, chairman and chief technology officer of 170 Systems, Inc.

“Since Oracle provides the hardware and manages the database platform on which 170 MarkView Financial Suite runs, this solution is powered by Oracle On Demand,” says Büttner.

The 170 MarkView Financial Suite integrates all unstructured content associated with a given transaction-paper, fax, electronic data interchange (EDI), electronic invoices, spreadsheets and e-mail-directly into Oracle E-Business Suite and PeopleSoft Enterprise financials applications.

The result: On Demand customers strengthen internal controls, lower transaction costs, promote adoption of self-service solutions, and enable e-invoicing.

Lowering the Cost of Compliance
By automating the integration of unstructured content, the 170 MarkView Financial Suite lowers costs even as it reduces the risks inherent in dispersed, paper-based systems.

And internal controls guarantee segregation of duties for each transaction.

“We turn core financial functions into self-documenting, Sarbanes-Oxley-compliant processes with comprehensive audit trails and real-time monitoring,” says Büttner.

The 170 MarkView products also shrink transaction costs and timelines, thanks to automatic routing of each transaction and its associated information to the appropriate individual for review, coding, and approval.

And by automating processes and bringing them online, the 170 MarkView Financial Suite enables self service as well as real-time audit capabilities.

“The beauty of this partnership is that our products are in tight coordination with Oracle financial application products and live on Oracle On Demand,” Büttner adds. “That means customers get all these benefits of the software with simplified, proven integration and with a single point of accountability for the management of their solutions.”

Source: Oracle

      

E-invoicing could help firms through recession

September 3, 2008  |  Uncategorized  |  Comments Off

E-invoicing could help businesses cut costs as they brace themselves for recession.

The technology is moving to the mainstream as the European Commission pushes it as part of its drive to cut costs in supply chains.

The Corporate Action on Standards project, set up by the European Payments Council, said that e-invoicing allows companies to cut the average EUR30 cost of processing a paper invoice by 80%.

Businesses that want to take advantage of e-invoicing can do it themselves, use an e-invoicing service provider or work with their banks.

Stefan Foryszewski, senior vice-president at e-invoicing service provider OB10, says businesses are looking at e-invoicing but only “the more enlightened ones.”

“The market is still fairly immature but awareness is beginning to grow,” he says.

Forysewski advises businesses moving to e-invoicing to ensure that their enterprise resource planning (ERP) systems are compatible with the system they chose. They must ensure the system they chose can be easily integrated with all suppliers. And they must ensure they comply with the taxation laws in the different regions they receive invoices from.

Building an e-invoicing system is challenging for companies to do on their own and the capital investment required may be hard to justify as the economy slows.

DHL began rolling out an electronic invoicing and payment system from Accountis in July last year. The project aims to save millions of pounds across Europe by reducing billing costs by 15%.

Brian Thumwood, e-billing programme manager at DHL, says the company chose a third-party supplier to avoid the risks of building its own system. “We looked at doing it ourselves but the complexities associated with the legal structure in different countries and the technology made us work with a supplier.”

Businesses only need minimal technology in place to use a third-party service, such as dedicated servers, a connection to the e-invoicing service, and the use of workflow systems.

Peter Ratcliffe chairman of Accountis points out that many e-invoicing suppliers have been bought up by larger businesses which means their software is no longer commercially available. For example, E-invoicing software providers Harbor Payments and Xign were acquired by American Express and JP Morgan respectively in 2007. As a result, companies that set up their own e-invoicing services would have to write their own software, he says.

Banks are using e-invoicing service providers to create their own services. Abbey launched a corporate e-invoicing service in July last year in partnership with e-invoicing network provider OB10, as part of a service to offer finance to supply chains.

Tom Crowe, director of sales and delivery financial supply chain solutions at Abbey Corporate Banking, says take up of e-invoicing is slow because it is a new concept in the UK.

But he said that businesses will take it up because of the savings that can be made. “Anything they can do to make businesses more efficient they are keen to look at particularly in a period of economic uncertainty,” he says.

The Royal Bank of Scotland (RBS) has announced that the first customers of its e-invoicing system, provided by Accountis are going live this month.

In the current economic climate an 80% reduction in the cost of a paper invoice will be attractive to business managers attempting to cut unnecessary costs. IT departments must, however, decide how they are going to implement e-invoicing to maximise the return on investment.

What is E-invoicing?

E-invoicing is an alternative to Electronic Data Interchange (EDI) as a method of dealing with supply payments electronically. It also helps get the best out of ERP systems by automatically putting more accurate information into the systems.

E-invoicing uses the internet to connect businesses with their suppliers and automates the processing of invoices in accounting systems. It speeds up payment times, improves the information in ERP systems, reduces the human resources required and eradicates inputting errors. It also cuts postage costs and reduces waste paper.

EDI is a point-to-point computer connection between a business and a supplier which uses a network provider to process transactions. Large businesses use this method to connect with their major suppliers.

Source: Computerweekly