Fundtech, a market leader in global transaction banking solutions today announced a partnership with Dataline, a leading Australian payment solution & services company, to offer electronic invoice presentment and payment (EIPP) and related financial supply chain services to corporate customers in Asia-Pacific.
Corporates who implement these services can benefit from replacing slow and costly paper-based processes with a quicker, more efficient and greener technology. For example, within the Accounts Receivable (AR) department, corporates can speed up the billing process by sending their invoices electronically rather than on paper and then manage them online. Instant delivery together with query management tools can lead to faster settlement and reduced 'Days Sales Outstanding' (DSO). On the Accounts Payables (AP) side, corporates can accept supplier invoices in any format straight into their e-invoicing hub, which reduces manual input, eliminates errors and helps to drive down costs.
There is also the option for AP departments to make an instant switch from paper to electronic by utilizing a 'Paper-to-Data' service. Whether a company processes invoices by mail, fax, email, EDI or other electronic channel, the data is captured, validated to agreed business rules and finally uploaded to an ERP or accounting system.
Dataline's products complement Fundtech's compliant Accountis EIPP service as they both enable corporates to automate complex financial processes, increase transaction visibility, reduce costs and eliminate paper. By working together Dataline and Fundtech will offer a complete range of financial supply chain solutions, which includes outbound (AR) and inbound (AP) e-invoicing, AP workflow automation, data scanning, e-payments support and online expenses management.
"Fundtech and Dataline already have many customers in common and look forward to growing our joint customer base further. We share the same vision and values. Both companies want to take the pain out of finance and reducing unnecessary manual work by taking AR and AP processes online. Together, our services provide busy finance staff with the ability to view, manage and process all their finance documents in one secure location. This real-time access to data gives them greateater visibility of the financial supply chain so that they can better optimize their working capital," said Ken Swanson, Managing Director of Dataline.
Gil Gadot, Managing Director of Fundtech's Financial Supply Chain Services strategic business unit, said: "Dataline is an established software company with whom we share a passion for providing innovative and cost-saving financial services that eliminate paper from the process. Fundtech already has a strong presence in the Asia-Pacific region and our partnership with Dataline will help us to further expand our e-invoicing network, which already has around 200,000 corporate connections worldwide."