Deutsche Bank is teaming with Computer Sciences Corporation to launch an electronic invoice presentment and payment (EIPP) service for use by corporations in Europe.
CSC says the Internet-based service combines Deutsche Bank's financial management capabilities with its business process and systems integration capabilities.
The system will enable straight-through processing of invoice presentment and payment initiation. The EIPP service allows billers to submit invoices to payers through a single online channel, with both parties able to review invoice status at any time, manage disputes online and receive or generate a full audit trail of the transaction.
Steve Mitchener, president of CSC's financial services group in EMEA, says the new service "will deliver significant business results to those corporations that have the ultimate objective of truly integrating their financial supply chain".
Other big banks in Europe, including Nordea, DnB Nor and Lloyds TSB, already offer an e-invoicing service to corporate customers.