Deutsche Bank and INTTRA have launched a joint partnership to drive new efficiencies and cost savings in the US$260bn ocean container shipping industry. INTTRA will expand its e-commerce services in the Q4 2009 to offer carriers the ability to automate inefficient invoicing processes. The partnership includes leveraging eBills, Deutsche Bank’s electronic invoice presentment and payment (EIPP) platform.
This joint service will combine the connectivity of INTTRA’s multi-carrier platform, which hosts a global network of shippers, with Deutsche Bank’s db financial supply chain solutions.
Invoicing, dispute resolution and payment processes represent a significant area of inefficiency and cost for the industry. Implementing an electronic solution could:
- Cut average transaction processing costs by more than half.
- Accelerate collection of accounts receivable and improve working capital.
- Preserve approximately 75,000 trees per year.
Daniel Rosenstein, Americas head of business expansion & treasury solutions sales, Global Transaction Banking, Deutsche Bank, said: “We are excited to have the opportunity to partner with INTTRA and to expand our relationships with billers and payers through our global financial supply chain management services. This is consistent with our strategy to form alliances with ‘best in class’ e-commerce solution providers. We look forward to working with INTTRA and its customers to provide significant cost savings and efficiencies.”
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