Research and partnerships signal further evolution of electronic invoicing

A focus on improving invoice quality is the catalyst for a new partnership between GXS and OB10. <br/>


A focus on improving invoice quality is the catalyst for a new partnership between GXS and OB10 . As announced in July, the vendors will build an integrated electronic invoicing solution leveraging the OB10 e-Invoicing network and the GXS Trading Grid, a global B2B e-commerce and integration platform that supports creation and adoption of on-demand supply chain management solutions for companies of any size.

The result is an on-demand solution that complements investments in ERP, while ensuring high-quality information flows throughout the extended supply chain.

E-invoicing is the process of receiving invoices and credit memos from suppliers via the Internet, rather than paper invoices coming through regular mail, or electronic invoices received through an EDI network, or other dedicated network.

For one large original equipment manufacturer and services provider interviewed by Thomas F. Gattiker, Ph.D., for CAPS Research , a Tempe, Ariz.-based nonprofit research organization dedicated to supply chain issues, the cost of sending an e-invoice is only about 40 percent the cost of a paper invoice.

That particular manufacturer's initiative also resulted in a decrease in headcount of invoice processing personnel, while invoice accuracy increased.

According to CAPS, e-invoicing removes the need for humans to handle problem-free invoices and shifts the focus of front-line accounts payable (AP) personnel from high-volume processing to identifying and eliminating root causes of errors. This effort includes working with supply management, and with suppliers. It is believed that this role shift—from discrepancy resolution to root cause elimination—is an important driver in the observed increase in invoice quality.

The integrated GXS-OB10 solution, ttargeted for availability in early 2008, will improve automation throughout the order-to-cash process, ensuring that customers can depend on a fully automated, streamlined, and regulatory-compliant solution that minimizes manual intervention, errors, and delays.

OB10 enables compliance with global tax and value-added tax regulations. Specifically, the EU DIRECTIVE 2001/115/EC, which governs the electronic invoicing process in Europe, requires any company invoicing other organizations in the EU to comply with certain e-invoicing standards, which include definitions of the types of data that invoices must include and storage requirements for auditing purposes.

Using OB10 e-Invoicing, companies can become compliant with EU regulations without having to undertake a costly and time-consuming compliance process on their own.

Outside of the complexities in Europe, the OB10 service is compliant with tax regulations in North America and the Asia-Pacific region. Currently, thousands of companies exchange invoices via OB10 in 90-plus countries.

No comments
The Engineers' Choice Awards highlight some of the best new control, instrumentation and automation products as chosen by...
The System Integrator Giants program lists the top 100 system integrators among companies listed in CFE Media's Global System Integrator Database.
Each year, a panel of Control Engineering and Plant Engineering editors and industry expert judges select the System Integrator of the Year Award winners in three categories.
This eGuide illustrates solutions, applications and benefits of machine vision systems.
Learn how to increase device reliability in harsh environments and decrease unplanned system downtime.
This eGuide contains a series of articles and videos that considers theoretical and practical; immediate needs and a look into the future.
Additive manufacturing benefits; HMI and sensor tips; System integrator advice; Innovations from the industry
Robotic safety, collaboration, standards; DCS migration tips; IT/OT convergence; 2017 Control Engineering Salary and Career Survey
Integrated mobility; Artificial intelligence; Predictive motion control; Sensors and control system inputs; Asset Management; Cybersecurity
Featured articles highlight technologies that enable the Industrial Internet of Things, IIoT-related products and strategies to get data more easily to the user.
This article collection contains several articles on how automation and controls are helping human-machine interface (HMI) hardware and software advance.
This digital report will explore several aspects of how IIoT will transform manufacturing in the coming years.

Find and connect with the most suitable service provider for your unique application. Start searching the Global System Integrator Database Now!

Infrastructure for natural gas expansion; Artificial lift methods; Disruptive technology and fugitive gas emissions
Mobility as the means to offshore innovation; Preventing another Deepwater Horizon; ROVs as subsea robots; SCADA and the radio spectrum
Future of oil and gas projects; Reservoir models; The importance of SCADA to oil and gas
Automation Engineer; Wood Group
System Integrator; Cross Integrated Systems Group
Jose S. Vasquez, Jr.
Fire & Life Safety Engineer; Technip USA Inc.
This course focuses on climate analysis, appropriateness of cooling system selection, and combining cooling systems.
This course will help identify and reveal electrical hazards and identify the solutions to implementing and maintaining a safe work environment.
This course explains how maintaining power and communication systems through emergency power-generation systems is critical.
click me