Fundtech announced that it struck a deal with Dataline to become partners. The deal is that they will jointly offer electronic invoice presentment and payment (EIPP) and related financial supply chain services to corporate customers in Asia Pacific.

Fundtech is one of those leaders in global transaction banking solutions. Dataline, on the other hand is a big Australian payment solution & services company.

The deal in detail

Dataline’s products complement Fundtech’s compliant ‘Accountis EIPP’ service as they both enable corporates to automate complex financial processes, increase transaction visibility, reduce costs and eliminate paper.

By working together Dataline and Fundtech will offer a complete range of financial supply chain solutions, which includes outbound (AR) and inbound (AP) e-invoicing, AP workflow automation, data scanning, e-payments support and online expenses management.

How do Asian Pacific corporates benefit from this EIPP deal?

For corporates in the Asian Pacific region the Fundtech-Dataline cooperation has the following advantages:

• Corporates who implement these services can benefit from replacing slow and costly paper-based processes with a quicker, more efficient and greener technology.
• For example, within the Accounts Receivable (AR) department, corporates can speed up the billing process by sending their invoices electronically rather than on paper and then manage them online. Instant delivery together with query management tools can lead to faster settlement and reduced ‘days sales outstanding’.
• On the Accounts Payables (AP) side, corporates can accept supplier invoices in any format straight into their e-invoicing hub, which reduces manual input, eliminates errors and helps to drive down costs.
• There is also the option for AP departments to make an instant switch from paper to electronic by utilizing a ‘Paper to Data’ service.Whether a company processes invoices by mail, fax, email, EDI or other electronic channel, the data is captured, validated to agreed business rules and finally uploaded to an ERP or accounting system.

Comments from Dataline and Fundtech

Of course Fundtech and Dataline are very happy with this new cooperation. Underneath are there comments to the deal:

• Ken Swanson, Managing Director of Dataline:“Fundtech and Dataline already have many customers in common and look forward to growing our joint customer base further. We share the same vision and values. Both companies want to take the pain out of finance and reducing unnecessary manual work by taking AR and AP processes online.”

  “Together, our services provide busy finance staff with the ability to view, manage and process all their finance documents in one secure location. This real-time access to data gives them greater visibility of the financial supply chain so that they can better optimize their working capital.”

• Gil Gadot, Managing Director of Fundtech’s Financial Supply Chain Services strategic business unit:“Dataline is an established software company with whom we share a passion for providing innovative and cost-saving financial services that eliminate paper from the process. Fundtech already has a strong presence in the Asia Pacific region and our partnership with Dataline will help us to further expand our e-invoicing network, which already has around 200,000 corporate connections worldwide.”

Interested?

• Corporate Contacts Fundtech
  George Ravich – Fundtech Ltd.
  +1-201-215-6530
  [email protected]
• Corporate Contact Dataline:
  Ken Swanson – Dataline
  +6129882 6301
  [email protected]