20 October 2017

Deutsche partners Inttra for container shipping e-invoicing service

07 April 2009  |  5586 views  |  0 World map digital with numbers

Deutsche Bank is partnering with ocean carrier e-commerce outfit Inttra to provide an electronic invoice presentment and payment (EIPP) service to the $260 billion container shipping industry.

Under the agreement, Inttra will expand its e-commerce services in the 4th Quarter, 2009 to offer carriers the ability to automate inefficient invoicing processes through the use of Deutsche's eBills EIPP platform.

There are an estimated 150 million invoice transactions processed a year for ocean shipping with average costs ranging from $20 - $60 per invoice depending on the processes used. Implementing an electronic solution can cut average transaction processing costs by more than half, say the partners.

Carriers also benefit from accelerated collection of their accounts receivable and improved working capital, making cash available sooner. Shippers and logistics providers meanwhile profit from having a standardised accounts payable process for receiving, processing and paying all of their invoices, improving visibility of their cash liabilities and providing a transparent dispute resolution process.

Additionally, digitisation of the invoices within the ocean freight industry could preserve approximately 75,000 trees per year, says Deutsche Bank.

Ken Bloom, chief executive officer, Inttra, comments: "With more than 260,000 container orders initiated on the Inttra platform each week, representing over 10% of global ocean container trade, we look forward to offering all carriers and their shippers the added benefits of an online electronic invoicing solution."

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

EC rule changes to give boost to e-invoicing

EC rule changes to give boost to e-invoicing

29 January 2009  |  8785 views  |  0 comments
Swift set for greater involvement in e-invoicing

Swift set for greater involvement in e-invoicing

28 November 2008  |  16135 views  |  0 comments
ING takes full control of e-invoicing firm Billington

ING takes full control of e-invoicing firm Billington

12 November 2008  |  6912 views  |  0 comments
Equens partners ICBPI and Isabel on European e-invoicing pilot

Equens partners ICBPI and Isabel on European e-invoicing pilot

16 September 2008  |  9740 views  |  0 comments
PayPal and OB10 team on e-invoicing

PayPal and OB10 team on e-invoicing

12 September 2008  |  11012 views  |  0 comments
Royal Bank of Scotland selects Accountis for e-invoicing

Royal Bank of Scotland selects Accountis for e-invoicing

17 June 2008  |  11307 views  |  0 comments
Nordea recruits TietoEnator to supply B2B e-invoicing system

Nordea recruits TietoEnator to supply B2B e-invoicing system

24 September 2007  |  7428 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  |  7780 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comvisit www.innotribe.comRegister now

Who is commenting?

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15942 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
9044 views comments | 16 tweets | 23 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8190 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7208 views comments | 9 tweets | 17 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
6390 views comments | 10 tweets | 21 linkedin

Featured job

Find your next job