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OB10, GXS Partner to Build Integrated Electronic Invoicing Solution
Partners leveraging the OB10 e-Invoicing network and GXS Trading Grid integration services platform for more automated, compliant order-to-pay process
Atlanta — July 19, 2007 — e-Invoicing network OB10 has formed a technology partnership with B2B connectivity specialist GXS that will see the two companies collaborate to build an integrated electronic invoicing solution leveraging the OB10 e-Invoicing network and GXS Trading Grid integration services platform.
Both companies share a common vision to deliver on-demand solutions that automate supply chain processes and information flows throughout the extended supply chain. Targeted for availability in early 2008, the new integrated solution is intended to improve automation throughout the order-to-cash process.
Benefits of the integrated solution, according to the two companies, include a more fully automated, streamlined and regulatory-compliant solution that minimizes manual intervention, errors and delays.
Ensuring Regulatory Compliant Order-to-Pay
"From OB10's perspective, this partnership represents the coming together of two leading technology companies that advance the automation of the global supply chain, helping it move faster and eliminating costly errors," said Jamie Gunn, CEO of OB10. "It also satisfies a need for customers making investments in supply chain outsourcing where the invoice process is just one component of the full order-to-cash process. Customers will benefit from a high percentage of first-time, straight-through, regulatory-compliant order-to-pay processing."
OB10 said its solution enables businesses to comply with global VAT and tax regulations. The European Union Directive 2001/115/EC, which governs the electronic invoicing process in Europe, requires any company invoicing other organizations in the Union 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.
By utilizing the OB10 e-Invoicing solution, companies can become compliant with E.U. regulations without having to undertake a compliance process on their own, OB10 said.
Toward a Global e-Invoicing Solution
"By partnering together, GXS and OB10 will offer customers a global e-invoicing solution that utilizes the scale and functionality of GXS Trading Grid and the unique nature of OB10's E.U.-compliant e-Invoicing service," said Bobby Patrick, senior vice president and chief marketing officer of GXS. "We look forward to working closely with OB10 to explore the ways in which this service can benefit our customers in Europe and abroad."
Both companies share a common vision to deliver on-demand solutions that automate supply chain processes and information flows throughout the extended supply chain. Targeted for availability in early 2008, the new integrated solution is intended to improve automation throughout the order-to-cash process.
Benefits of the integrated solution, according to the two companies, include a more fully automated, streamlined and regulatory-compliant solution that minimizes manual intervention, errors and delays.
Ensuring Regulatory Compliant Order-to-Pay
"From OB10's perspective, this partnership represents the coming together of two leading technology companies that advance the automation of the global supply chain, helping it move faster and eliminating costly errors," said Jamie Gunn, CEO of OB10. "It also satisfies a need for customers making investments in supply chain outsourcing where the invoice process is just one component of the full order-to-cash process. Customers will benefit from a high percentage of first-time, straight-through, regulatory-compliant order-to-pay processing."
OB10 said its solution enables businesses to comply with global VAT and tax regulations. The European Union Directive 2001/115/EC, which governs the electronic invoicing process in Europe, requires any company invoicing other organizations in the Union 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.
By utilizing the OB10 e-Invoicing solution, companies can become compliant with E.U. regulations without having to undertake a compliance process on their own, OB10 said.
Toward a Global e-Invoicing Solution
"By partnering together, GXS and OB10 will offer customers a global e-invoicing solution that utilizes the scale and functionality of GXS Trading Grid and the unique nature of OB10's E.U.-compliant e-Invoicing service," said Bobby Patrick, senior vice president and chief marketing officer of GXS. "We look forward to working closely with OB10 to explore the ways in which this service can benefit our customers in Europe and abroad."
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