26 February 2017
Visit dh.com

Deutsche partners Inttra for container shipping e-invoicing service

07 April 2009  |  5398 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  |  8557 views  |  0 comments
Swift set for greater involvement in e-invoicing

Swift set for greater involvement in e-invoicing

28 November 2008  |  15871 views  |  0 comments
ING takes full control of e-invoicing firm Billington

ING takes full control of e-invoicing firm Billington

12 November 2008  |  6686 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  |  9408 views  |  0 comments
PayPal and OB10 team on e-invoicing

PayPal and OB10 team on e-invoicing

12 September 2008  |  10805 views  |  0 comments
Royal Bank of Scotland selects Accountis for e-invoicing

Royal Bank of Scotland selects Accountis for e-invoicing

17 June 2008  |  11017 views  |  0 comments
Nordea recruits TietoEnator to supply B2B e-invoicing system

Nordea recruits TietoEnator to supply B2B e-invoicing system

24 September 2007  |  7136 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  |  7393 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit dh.comVisit contisgroup.com

Who is commenting?

Top topics

Most viewed Most shared
EBA to relax controversial PSD2 authentication rulesEBA to relax controversial PSD2 authentica...
13120 views comments | 52 tweets | 74 linkedin
RBS to become fintech fund and high street outlet for challenger banks under HMT remedyRBS to become fintech fund and high street...
8694 views comments | 40 tweets | 34 linkedin
BNY Mellon seeks blockchain experts for new emerging biz and tech teamBNY Mellon seeks blockchain experts for ne...
7223 views comments | 7 tweets | 4 linkedin
High rate of defaults hit P2P lending sectorHigh rate of defaults hit P2P lending sect...
6989 views comments | 19 tweets | 13 linkedin
hands typing furiouslyBlockchain Technology
6942 views 1 | 18 tweets | 7 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job