Thursday, April 27, 2006

Two Heavy Weights enter EIPP market

I just came across this article: Deutsche Bank and CSC launch electronic corporate invoicing service. Should we be scared! Hell no!! This confirms that market is ready for such innovative solutions.

Analysing the story....the solution seems to be aimed at Euro Top 1000. It is right for these two companies Deutsche Bankand Computer Sciences Corporation) to join forces together, as one complements the other. Deutsche Bank would never be able to operate an EIPP system alone without a technology specialists, who has experience of integrating complex ERP systems.

The solution is internet based, which is a positive. I presume it is offered as an enterprise solution. Refer to my article on EIPP segmentation. I agree with Steve Mitchener's statement "will deliver significant business results to those corporations that have the ultimate objective of truly integrating their financial supply chain". Recently, we at ebdex, have been speaking a lot about closing the financial supply chain.

Lloyds TSB has been offering similar services for number of years through technology provider Causeway. I believe this is a cash cow for Causeway. Philip, I like the new website (easy to navigate - not too sure about the orange) and new identity.

Of course, ebdex also have a desire to offer ebdex Document Exchange through a commercial bank. But first things first!!

I need to further investigate Nordea and DnB Nor offerings - especially to understand the technology providers.

Accountis also have an affiliation with Royal Bank of Scotland. HSBC has also recently been making statements regarding EIPP. Perhaps there is competition looming within the banks.

Update 1: Ovum finally covers the story in more details.

The solution comprises several modules, including electronic invoice creation, invoice dispatch to the debtor, intelligent (online) workflow solutions for invoice approval and/or dispute resolution, and helpdesk services. This combination of modules covers the entire invoicing process centrally for any location worldwide, and is able to handle a wide range of differing invoice formats (as specified by the creditor/debtor) as well as meeting the regulatory specifications required by different countries.

The first customer is due to go live in June 2006.

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