24 January 2017
visit http://www.wolterskluwerfs.com

Royal Bank of Scotland selects Accountis for e-invoicing

17 June 2008  |  10993 views  |  0 Mouse

The Royal Bank of Scotland (RBS) is implementing technology from Fundtech-subsidiary Accountis to provide bank-branded electronic invoicing services to its corporate customers.

RBS has signed a multi-year contract for Accountis's electronic invoice presentment and payment (EIPP) technology which it will use to provide VAT-compliant e-invoicing services to corporate customers in the UK.

The application provides detailed status information - such as proof of delivery, acceptance, query and approval status - for all documents involved in a business transaction, from purchase order to invoices. The service also provides real time dispute management.

Accountis says RBS customers that implement the service will be able replace slow and costly paper-based processes with a faster and more environmentally-friendly technology. It also facilitates the bank provision of invoice-based financing services.

"For our customers we see e-invoicing as a fast-track to saving time and money," says Ian Watkinson, head of e-invoicing, RBS. "In addition to eliminating paper and automating manual processes, users of the service will quickly benefit from real-time document management, faster settlements and better working capital optimisation."

Watkinson says e-invoicing is a "strategic addition" to the bank's product portfolio.

"By offering additional transaction services such as e-invoice delivery, we will gain greater visibility of our customer's end-to-end, financial supply chain transactions. This will help us to improve our understanding of their business and strengthen our long-term relationship," he adds.

US-based Fundtech acquired Accountis earlier this year for a maximum cash consideration of £5.8 million.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

RBS looking to sell off Tesco JV stake - report

RBS looking to sell off Tesco JV stake - report

29 April 2008  |  8084 views  |  0 comments
RBS first to deploy MasterCard inControl platform

RBS first to deploy MasterCard inControl platform

15 April 2008  |  9614 views  |  0 comments
Fundtech acquires EIPP outfit Accountis

Fundtech acquires EIPP outfit Accountis

07 February 2008  |  7336 views  |  0 comments
Nordea recruits TietoEnator to supply B2B e-invoicing system

Nordea recruits TietoEnator to supply B2B e-invoicing system

24 September 2007  |  7115 views  |  0 comments
E-invoicing network to save EUR243 billion in EU supply chain costs

E-invoicing network to save EUR243 billion in EU supply chain costs

30 August 2007  |  7373 views  |  0 comments
Czech bank Ceská sporitelna selects TietoEnator for e-invoicing

Czech bank Ceská sporitelna selects TietoEnator for e-invoicing

27 June 2007  |  5584 views  |  0 comments
ING and Getronics team for e-invoicing JV

ING and Getronics team for e-invoicing JV

11 July 2006  |  6725 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit wavestone.co.ukhttp://www.financialcrimerisk.fiserv.com/aml?r=finextraVisit capgemini.com

Top topics

Most viewed Most shared
US fintech firms join forces to push data sharing via APIsUS fintech firms join forces to push data...
10687 views comments | 62 tweets | 53 linkedin
EU watchdog tells FS firms to focus on blockchain security risksEU watchdog tells FS firms to focus on blo...
6410 views comments | 16 tweets | 25 linkedin
hands typing furiouslyBlockchain: Securities market infrastructu...
6354 views 0 | 3 tweets | 4 linkedin
New York regulator blasts OCC over bank charter plan for fintech firmsNew York regulator blasts OCC over bank ch...
6279 views comments | 21 tweets | 15 linkedin
China's Ant Financial goes global in bid for two billion users in 10 yearsChina's Ant Financial goes global in bid f...
6003 views comments | 22 tweets | 12 linkedin

Featured job

Competitive base, bonus and benefits
London, UK

Find your next job