INTTRA, Deutsche Bank offer invoice, payment product
Deutsche Bank and shipping portal INTTRA said Monday they will jointly launch an electronic invoicing and payment product in the fourth quarter of 2009.
“There are an estimated 150 million invoice transactions processed a year for ocean shipping with average costs ranging from $20 to $60 per invoice depending on the processes used,” the companies said. “Implementing an electronic solution can cut average transaction processing costs by more than half.”
“Carriers also benefit from accelerated collection of their accounts receivable and improved working capital, making cash available sooner,” the companies added. “Shippers and logistics providers profit from having a standardized accounts payable process for receiving, processing and paying all of their invoices, improving visibility of their cash liabilities and providing a transparent dispute resolution process, all of which create efficiencies and save time for their staff.”
INTTRA, Deutsche Bank offer invoice, payment product
