EDB and DnB Nor team for corporate e-invoicing system

EDB and DnB Nor team for corporate e-invoicing system

Nordic IT services group EDB Business Partner is teaming with DnB NOR to deliver an electronic invoicing system to corporate firms in Norway.

The e-invoicing system will initially be available to companies that bank with DnB NOR or which use EDB's existing invoicing services, but will be extended to include other banks.

Rune Fjeldstad, EVP, cash management/product development, DnB NOR, says: "The solution will operate as a contact point between issuers and recipients of invoices in the corporate market. Electronic invoice traffic will flow to and from the Internet banking accounts of both issuers and recipients of invoices via this contact point."

Fjeldstad says the system will make it easy for companies to monitor and manage invoices received and can also be connected to inhouse accounting systems.

EDB says the system, which is due to go live in Q2 2006, is expected to halve the cost of invoice management for companies.

The vendor claims the platform will be the first unified common system for electronic invoice management between Norwegian companies, although an alternative system developed by TietoEnator and Nordea was introduced in 2003.

News of the deal with DnB Nor comes as EDB reports an 18% increase in third quarter revenues, from NKr990 million to Nkr1.164 billion.

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