Featured providers:

Data/Book Store

Collateral:Securities Lending, Repo, OTC Derivatives and Future of Finance

Magazine

Fundtech and Dataline Partner on Electronic Invoice and Payment Solutions in Asia Pacific

Posted: 26 Jan 2012

Fundtech, a provider of global transaction banking solutions, and Dataline, an Australian provider of payment solutions, have established a partnership to offer electronic invoice presentment and payment (EIPP) and related financial supply chain services to corporate customers in Asia-Pacific.

The product is marketed as corporates, who can replace paper-based services with more efficient and greener technology. The firms say accounts receivable department, for example, can speed up billing processes by sending invoices electronically rather than on paper, which can then be managed online.

Accounts payable departments can accept supplier invoices in any format in their e-invoicing hub, which can reduce manual input, eliminate errors and help to drive down costs. Accounts payable departments can also utilize a “Paper-to-Data” service, which processes invoices by mail, fax, email, EDI or other electronic means and captures, validates and uploads the information to an accounting system.

Dataline and Fundtech are offering a broad range of financial supply chain solutions for outbound and inbound e-invoicing, AP workflow automation, data scanning, e-payments support and online expenses management.

“Fundtech and Dataline already have many customers in common and look forward to growing our joint customer base further,” says Ken Swanson, Managing Director of Dataline. “We share the same vision and values. Both companies want to take the pain out of finance and reducing unnecessary manual work by taking AR and AP processes online. Together, our services provide busy finance staff with the ability to view, manage and process all their finance documents in one secure location. This real-time access to data gives them greater visibility of the financial supply chain so that they can better optimize their working capital.”

Gil Gadot, managing director of Fundtech’s Financial Supply Chain Services strategic business unit, adds: “Dataline is an established software company with whom we share a passion for providing innovative and cost-saving financial services that eliminate paper from the process. Fundtech already has a strong presence in the Asia-Pacific region and our partnership with Dataline will help us to further expand our e-invoicing network, which already has around 200,000 corporate connections worldwide.”

(CG)

If you have any comments about this story or news tips, contact Christopher Gohlke in New York at cgohlke@globalcustodian.com or Janet Du Chenne in London at jduchenne@globalcustodian.com.