18 October 2017
Find out more

EIPP outlook strong, says Giga

25 July 2002  |  4811 views  |  0 EIPP outlook strong, says Giga

Companies that implement electronic invoice presentment and payment (EIPP) can achieve a positive ROI with as little as a 12-15 per cent adoption rate by supliers, according to new research from Giga Information Group.

The study used Giga's 'total economic impact' model to analyse cost, benefits, flexibility and risk of EIPP implementation to companies. Results show that provided certain conditions were met - such as the elimination of corresponding paper invoices and the implementation of customer self help - positive ROI is expected across the board for companies in a wide range of industries.

Penny Gillespie, Giga senior industry analyst, says: "We expect that most companies making an initial investment in EIPP will continue to see a positive return from the investment with payback within the first or second years."

The report reveals that while consumers have been slow to adopt electronic bill presentment and payment (EBPP), corporate payers have been quick to adopt EIPP due to cost savings resulting from the migration from paper to electronic delivery and improved efficiency within customer service, accounts receivable and marketing.

Gillespie continues: "A well-thought-out EIPP implementation reduces customer service calls relating to bills, decreases accounts receivable processing time and provides the opportunity to communicate consistently and personally with customers."

The EIPP market opportunity has not been wasted on the banking industry, with Citbank, JPMorgan Chase, Bank One and ABN Amro among the first to push products to corporate customers.

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

Citibank wins Cargolux e-billing mandate

Citibank wins Cargolux e-billing mandate

15 July 2002  |  4666 views  |  0 comments
Wells Fargo adds CheckFree to EBPP service

Wells Fargo adds CheckFree to EBPP service

19 June 2002  |  5253 views  |  0 comments

Related blogs

Create a blog about this story (membership required)
visit www.vasco.com Register now

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15265 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8462 views comments | 16 tweets | 21 linkedin
hands typing furiouslyHow artificial intelligence can deliver a...
7954 views 0 | 7 tweets | 9 linkedin
satelliteGates Foundation backs Ripple collaboratio...
7428 views comments | 13 tweets | 8 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
6582 views comments | 8 tweets | 16 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job