Accountis Ltd, a Fundtech company and a provider of secure financial document exchange and payment systems, announces a multi-year agreement with The Royal Bank of Scotland (“RBS”) to provide the bank with an RBS branded e-invoicing solution and service.
The partnership deal enables RBS to provide a VAT compliant e-invoicing service to their corporate customers. RBS customers who implement the service can replace slow and costly paper-based processes with a faster and environmentally friendly technology.
Corporates currently have very little overall visibility of the Financial Supply Chain. The Accountis e-invoicing service provides detailed status information, such as proof of delivery, acceptance, query and approval status for all documents involved in a business transaction from Purchase Order to Invoice.
“For our customers we see e-invoicing as a fast-track to saving time and money”, says Ian Watkinson, head of E-Invoicing for RBS. “In addition to eliminating paper and automating manual processes, users of the service will quickly benefit from real-time document management, faster settlements and better working capital optimisation.
“AT RBS, we see e-invoicing as a strategic addition to our existing product portfolio. By offering additional transaction services such as e-invoice delivery, we will gain greater visibility of our customer’s end-to-end, financial supply chain transactions. This will help us to improve our understanding of their business and strengthen our long-term relationship. It also places us in a better position to offer additional services such as supplier finance provisions and other innovative finance arrangements.”