E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE 2013

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1 E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE 2013 INSIGHTS IN THE WORLDWIDE E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET FEATURES TOP INDUSTRY PLAYERS WORLDWIDE Extensive global distribution via worldwide industry events With the release of the E-invoicing, Supply Chain Finance and E-billing Market Guide 2013, The Paypers produced an extensive overview that helps the reader to understand this fragmented and dynamic market. The overview of providers is without doubt the most complete overview in the market, and the guide also provides valuable market insights from industry experts. A must read for professionals in e-invoicing, supply chain finance and e-billing. Jaap Jan Nienhuis, Senior Consultant, Innopay

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3 E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE 2013 INSIGHTS IN THE WORLDWIDE E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET Authors Ionela Barbuta Sabina Dobrean Mihaela Mihaila Adriana Screpnic Mirela Amariei Simona Cristea RELEASE VERSION 1.0 SEPTEMBER 2013 COPYRIGHT THE PAYPERS BV ALL RIGHTS RESERVED

4 2 E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE 2013 INTRODUCTION Introduction You are reading the E-invoicing, Supply Chain Finance and E-billing Market Guide 2013, a state-of-the-art overview of the global e-invoicing, e-billing, e-procurement and financial supply chain management ecosystem - related information at global level. This guide is published once a year by The Paypers, the leading independent source of news and analyses for professionals in the payment industry. The 2013 edition of the E-invoicing, Supply Chain Finance and E-billing Market Guide continues and expands the scope of the E-invoicing Market Guide, by putting together a collection of in-depth analyses and encompassing the hottest topics currently being debated throughout the global e-invoicing, supply chain finance and e-billing industry. The 2013 Guide is designed to serve as the most complete and up-to date reference source available on the market for players in these industries and beyond. It features insights from industry stakeholders and associations, expert views, customer cases and exposés from thought leaders and detailed company profiles of the suppliers. Although it has not yet reached the tipping point where it becomes the norm, eliminating paper-based invoice data exchanges, the global e-invoicing ecosystem is slowly evolving and companies come to realise that e-invoicing as such is not the whole story, but rather a part of it which leads to full automation of a series of interconnected business processes. One thing is clear: an e-invoicing paradigm shift is happening, and this focuses on the development of new business models which encompass the whole of the collaborative financial supply chain. It appears that the dawn for isolated ecosystems with no scalability is here. The 2013 edition of the E-invoicing, Supply Chain Finance & E-billing Market Guide features an enhanced structure compared to last year s edition. This new structure reflects the industry feedback received for the 2012 Guide and as well as a desire to best serve the needs of the industry by highlighting more particular aspects of the market such as emerging trends, directions for development, existing challenges and the best strategies to address them. Apart from the enhanced structure in terms of design, this year s edition of the Guide also encompasses voices from all across the e-invoicing, supply chain finance and e-billing industry, providing an elaborate and up-to-date overview of the entire ecosystem and its main players. The 2013 Guide pays particular attention to the key trends and topics that define the e-invoicing, e-billing and supply chain finance markets in 2013 at global, regional and local level. Among them are overcoming fragmentation & lack of interoperability on the e-invoicing market, B2B integration and the network effect between trading partners, international trade finance, the integration of e-invoicing networks with transaction-based SCF platforms, the optimization of the financial supply chain, webbased EIPP and the growth of mobile billing. Moreover, the E-invoicing, Supply Chain Finance & E-billing Market Guide 2013 features insights from a wide variety of players in the e-invoicing, supply chain finance and e-billing market, including top services providers, consultants, industry associations, corporates and the voice of small enterprises. The 2013 edition of the Guide features a three-part structure, with Part 1 dedicated to insights from industry stakeholders and associations. In Part 1, Robert Unger, Senior Director ebilling & Payments at NACHA discusses XML via the Automated Clearing House Network, while further on Bartosz Dworak, Policy Officer in the Directorate-General for Internal Market and Services at the European Commission, highlights the benefits of e-invoicing in Europe and provides information on the draft directive on e-invoicing in public procurement that the European Commission put forward in June Marcus Laube, Co-Chair e-invoice Alliance Germany (VeR), dwells upon the milestones on the way to Agenda 2020 which requires that all businesses and public bodies throughout Europe switch to electronic invoicing by the year Further on, Carmen Ciciriello, Executive Communications Officer, OpenPEPPOL and André Hoddevik, Secretary General at OpenPEPPOL, discuss the European e-procurement landscape

5 INTRODUCTION E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE and the PEPPOL initiative while Charles Bryant, Senior Adviser, EBA, focuses upon Supply Chain Finance and how e-invoicing demonstrates its potential as a game-changer for the SCF business. The E-invoicing, Supply Chain Finance & E-billing Market Guide 2013 is a great means to stay informed and keep up to date with the latest industry perspectives, trends and developments, a highly useful document that should be kept at hand at all times. Finally, this document has been put together with the utmost care. Part 2 of the E-invoicing, Supply Chain Finance & E-billing Market Guide 2013 is a section dedicated to exposing expert views, If you discover that, despite our efforts, it features information that is unclear or erroneous, we very much appreciate your feedback. opinion pieces and exposés on key aspects of the global e-invoicing, e-billing and e-finance space. It features insights from leading market players, including Ariba (We are on the Adriana Screpnic, Editor-in-Chief, The Paypers Cusp of the Next Revolution in Business Productivity with Every Process that Touches the Edge of the Enterprise Running Even Better Through a Business Network by Richard Downs, Network & Manage Cash Solution Marketing Director, EMEA), Tradeshift (The Tradeshift Platform Reinvents Workflow with a Value Driven Approach by Christian Lanng, CEO and co-founder), Dutch Harbor (Payment and Payment Terms from a Chief Procurement Officer's Perspective by Dr. Erik van Breusegem, COO & Procurement Engineer), SWIFT (Head of the Sibos Corporate Forum André Casterman explains how services designed for the corporate community are independent of their banking relationships by André Casterman, Head of Corporate and Supply Chain Market), Consorzio CBI (Electronic Invoice and CBILL: CBI Services for a New Public Administration Are Friendlier to Businesses & Citizens by Liliana Fratini Passi, General Manager), Aite Group (E-invoicing: Regulatory-Driven, but Beneficial Regardless, by Nancy Atkinson, Senior Analyst), Purchasing Insight (3-Point Plan to Encourage E-Invoicing to Public Sector by Pete Loughlin, Managing Editor). Part 3 of the E-invoicing, Supply Chain Finance & E-billing Market Guide 2013 presents in-depth company profiles mapping out key players in the global e-invoicing, e-billing and e-finance services space. Also, an enhanced online company profiles database with advanced search functionality complements the PDF version of the Guide, allowing readers unprecedented access to and visibility into the global e-invoicing, supply chain finance and e-billing market.

6 4 E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE 2013 TABLE OF CONTENTS Table of contents 2 Introduction 5 VOICE OF THE INDUSTRY SECTION 6 NACHA XML via the Automated Clearing House Network: Creating Standards, Driving Efficiencies and Advancing B2B Payment Remittance Processes 8 Exclusive Interview with Bartosz Dworak Policy Officer in the Directorate-General for Internal Market and Services, European Commission 10 VeR & EESPA Milestones on Our Way to Agenda 2020 Interoperability and Common Standards are just the Beginning 12 PEPPOL Exchanging business documents will become trivial, leading to further innovation in e-procurement; similar to how applets have changed the way we use smartphones 14 EBA Supply Chain Finance Comes of Age 17 THOUGHT LEADERSHIP SECTION 18 Ariba We are on the Cusp of the Next Revolution in Business Productivity with Every Process that Touches the Edge of the Enterprise Running Even Better through a Business Network 20 Tradeshift The Tradeshift Platform Reinvents Workflow with a Value Driven Approach 22 Dutch Harbor Payment and Payment Terms from a Chief Procurement Officer's Perspective 26 SWIFT Ahead of the Sibos Corporate Forum André Casterman explains how services designed for the corporate community are independent of their banking relationships 28 Consorzio CBI Electronic Invoice and CBILL: CBI Services for a New Public Administration Are Friendlier to Businesses & Citizens 32 Aite Group E-invoicing: Regulatory-Driven, but Beneficial Regardless 34 Purchasing Insight 3-Point Plan to Encourage E-Invoicing to Public Sector 36 The Paypers E-invoicing for everybody: A closer look at the new European e-invoicing scheme SimplerInvoicing 38 sharedserviceslink.com E-Invoicing in 7 Steps - from Preparation to Roll-Out 40 Accounts Payable Network E-Invoicing Sheds Light on Supply Chain 42 COMPANY PROFILES

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8 6 E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE 2013 VOICE OF THE INDUSTRY NACHA XML via the Automated Clearing House Network: Creating Standards, Driving Efficiencies and Advancing B2B Payment Remittance Processes US businesses process 15.5 billion remittances monthly with domestic and international trading partners, according to findings from a study commissioned by NACHA The Electronic Payments Association. However, only 10% of remittances are sent simultaneously with payments using a standardized format, which means businesses currently re-associate the remaining 14 billion remittances that are sent separately each month. According to that same study, it was shown that businesses want to receive remittance information with the payment. 69% of businesses receiving remittances indicated that 'remittance information with the payment' is 'very' to 'extremely important.' in core banking infrastructure and no consistency in exchanging XML usage within the ACH Network today, having a standard for structured XML remittance data elements and tags will support uniform adoption of XML information in ACH Network addenda records. In support of achieving this standard, NACHA developed the XML- ACH Remittance Program. The XML-ACH Remittance Program features: NACHA-defined remittance data dictionary, rules and formats; Opt-in usage for financial institutions, service providers and corporates; Identical process flow compared to EDI; and ISO20022 formatting and a bridge to payment remittance harmonization. Corporate receivers of payments rely on payment remittance information to close open accounts receivable entries, apply credit to an account, and determine any remaining liabilities. They desire consistent remittance data across all payment channels, whether wires, ACH, credits cards, or checks, and are constantly looking for ways to streamline these processes. The ACH Network, which serves as the backbone for the electronic movement of money and data, provides for the ability to easily pass payments and remittance information with transactions. As such, by leveraging the capabilities of the ACH Network, businesses can more efficiently manage the billions of remittances sent separately from payments, significantly improving their payables and receivables processes. XML in the ACH Network: The XML-ACH Remittance Program Currently, remittance information in the ACH Network is required to be formatted according to ANSI ASC Electronic Data Interchange (EDI) specifications. This limits its use primarily to large businesses. But Extensible Markup Language (XML) is a data format that could drive efficiencies and facilitate greater information exchange between businesses of all sizes. With the growing adoption of XML The XML-ACH Rules define the roles, responsibilities and warranties for users. In addition, the XML-ACH Rules provide the technical specifications for creating and transmitting XMLformatted remittance information in CTX (Corporate Trade Exchange) entries for business-to-business (B2B) payments. The specifications include an ISO20022 based data dictionary, technical mapping guidelines, examples, best practice recommendations, XML schema structure and XSD output. Benefits of the XML-ACH Remittance Program Having a standard, as defined by the XML-ACH Remittance Program, will provide consistency for using XML in ACH addenda records by creating uniformity for businesses using XML to send and/or receive payment remittance information via the ACH Network. The XML-ACH standard, backed by the NACHA Operating Rules, also obviates the need for bi-lateral agreements. Participants can therefore experience better efficiency, improved automation, and flexibility in the payment processing life cycle.

9 VOICE OF THE INDUSTRY E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE Robert Unger, Senior Director, ebilling & Payments, NACHA Additionally, the XML-ACH Remittance Program: Saves corporations the expense and time required for proprietary XML translations as more of the supply chain processes are increasingly becoming XML enabled; Allows banks and other remittance providers to extend valueadded services to their corporate customers of all sizes; Simplifies the process for small businesses, which find existing formats too complex; and Helps the migration from EDI and provides a next generation option for clearing systems that can accommodate complex payment information. The Future of XML in the ACH Network One of the unique features of the XML-ACH Remittance Program is that it leverages international ISO20022 payment messaging specifications. It also helps bridge payment remittances across payment systems, particularly the US wire systems, FedWire and CHIPS, which recently developed an ISO20022 based remittance format option. As part of the plan to ensure continued growth of the XML-ACH Remittance Program and B2B transactions, NACHA is working with the Interactive Financial exchange Forum to develop official ISO20022 remittance specifications. In this way, the XML-ACH Remittance Program can enable the expansion of B2B electronic payments and further the industry s effort to advance global payments by developing payments processes and formats based on international standards. ABOUT NACHA: NACHA MANAGES THE DE VELOPMENT, ADMINISTRATION, AND GOVERNANCE OF THE ACH NETWORK, THE BACKBONE FOR THE ELECTRONIC MOVEMENT OF MONEY AND DATA FROM ACCOUNT TO ACCOUNT. NACHA OPERATING RULES GUIDE RISK MANAGEMENT AND CREATE PAYMENT CERTAINTY FOR PARTICIPANTS. NACHA MEMBERSHIP, COUNCILS, AND FORUMS FOSTER DIALOGUE AND INNOVATION TO STRENGTHEN THE NETWORK. ABOUT THE AUTHOR: AS SENIOR DIRECTOR AT NACHA, ROBERT UNGER LEADS NACHA S COUNCIL FOR ELECTRONIC BILLING AND PAYMENT (CEBP) AND ALSO DIRECTS NACHA S ELECTRONIC BILLING AND INFORMATION DELIVERY SERVICE (EBIDS). IN ADDITION, MR. UNGER IS THE B2B PRODUCT MANAGER WITHIN NACHA, RESPONSIBLE FOR ACH INITIATIVES FOCUSED ON B2B PAYMENTS AND REMITTANCE INFORMATION. Through initiatives like the XML-ACH Remittance Program, and collaboration with organizational standards and leadership groups, NACHA is working to increase use and adoption of B2B electronic payments. NACHA invites organizations financial institutions, corporations and related technology/payment service providers to participate in the XML-ACH Remittance Program. The XML-ACH Program is an opt-in program, meaning participants must enter into an agreement with NACHA and can only exchange transactions with other stakeholders that have opted-in. For more information about the Program or to learn how to become a participant, visit:

10 8 E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE 2013 VOICE OF THE INDUSTRY European Commission E-INVOICING: IT S TIME FOR EUROPE TO REAP THE BENEFITS At the end of June 2013, the European Commission put forward a draft directive on e-invoicing in public procurement. One of the focus points of this document is the proposed establishment of a European e-invoicing standard to improve interoperability between different e-invoicing systems. What are the main challenges EU-wide in terms of overcoming the fragmentation of the European business environment and establishing a functional, interoperable e-invoicing ecosystem? Currently, a number of countries across the EU are undertaking action to promote the use of electronic invoicing. In some of them, e-invoicing has been made mandatory when dealing with public bodies, and others are planning to follow. Unfortunately, in the majority of cases, the national e-invoicing systems are based on standards which are not compatible. This means that a company in, say, Italy is not able to send an e-invoice to a public body in Denmark because the format of the Italian invoice cannot be read by the Danish e-invoicing system. This causes market access barriers and robs European companies of potential business opportunities in other Member States. To complicate matters further, many sectoral standards are also in use. The proliferation of these systems raises the cost of doing business in Europe, as companies frequently need to support several different e-invoicing formats. This is not good business sense and is not sustainable. The obvious solution is to develop a single e-invoicing format a common European standard and make it obligatory for all public administrations across the EU to accept e-invoices sent in this standard. This is precisely what the Commission is proposing in the draft Directive. As a policy expert within the Directorate General Internal Market and Services, if you were to summarize your current insight, what would be the 'state of affairs' of e-invoicing in Europe at the present moment? E-invoicing offers many benefits: significant cost reduction, process simplification, reduced payment time, greater security of data, as well as numerous environmental benefits. This is confirmed by enterprises and public authorities which already use it. Unfortunately, Europe is not taking full advantage of these benefits. While in some Member States the use of e-invoicing is already very common, in others it is practically unknown. Although these differences stem in part from the general level of digitisation in the different countries, government policy also plays a crucial role. Not surprisingly, the countries with the greatest use of electronic invoices are those which have made e-invoicing mandatory in public procurement. Where the public sector has not acted, usage is much lower. Even worse, in some Member States the use of e-invoices is hindered by a range of legal, regulatory and technical requirements. Combined with the multiplicity of e-invoicing standards on the market and the lack of interoperability between them, this creates a very complex environment which makes broader adoption difficult. The result is that e-invoicing currently makes up less than 15% of all invoicing procedures in Europe. There is therefore a marked discrepancy between the estimated benefits of large-scale e-invoicing adoption and the actual pace of adoption in Europe. In your opinion, what would be some of the main causes of this phenomenon and why has e-invoicing take-up proven so slow? The lack of legal clarity and the technical complexity in this area play a predominant role. Another reason is a fear of the initial

11 VOICE OF THE INDUSTRY E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE Bartosz Dworak, Policy Officer in the Directorate-General for Internal Market and Services implementation costs and a perceived difficulty of use. Although several studies have shown that the benefits greatly outweigh any such costs and that these can usually be recouped within a period of less than two years, some market actors are still hesitant to undertake these investments. The current economic situation might make such a decision even more difficult, despite the fact that in the medium-term, the introduction of e-invoicing will almost certainly significantly improve efficiency. As for the difficulty, a lot of best practice exists which proves that e-invoicing need not be complicated. But even the public sector is now beginning to act, which is very encouraging. Another market segment which seems more hesitant is that of small and microenterprises. However, in both cases the problem doesn t necessarily stem from a lack of understanding of the potential benefits, but is rather due to a fear of the cost and effort associated with making the switch. Considering the large number of existing standards and the current lack of legal clarity, this fear is not entirely unjustified. The draft Directive and the Communication aim to eliminate this uncertainty and, in this way, promote the move towards end-to-end e-procurement in Europe. A communication accompanying the draft directive also focuses on the public sector and in particular on the area of e-procurement. Could you elaborate a bit more on the perceived benefits of transitioning towards a market where end-to-end e-procurement is the norm? End-to-end e-procurement by which we mean the automation of all steps in the procurement process, from publication of the tender to payment brings important benefits of scope. The economic benefits of automation are greatest when the need for human intervention is minimised or even entirely removed. The more elements covered, the greater the potential benefits. While total automation is not possible in the pre-award phase, where someone will always be required to study the tender documents or select the most economically advantageous offer, it is crucial in the post-award phase. For example, if an invoice is sent electronically but then has to be processed and archived manually, a significant portion of the benefit of automation will be lost. Full automation will therefore lead to greater efficiency and greater cost reductions. Payments to suppliers will also be made faster. The benefits of e-invoicing and of e-procurement extend beyond eliminating paper. In your opinion, are European public and private sector decision makers aware of the benefits that could be derived from signing up for e-invoicing and / or e-procurement? The benefits of e-invoicing and e-procurement seem to be wellunderstood and are widely acknowledged. This is perhaps slightly less true of public administrations, which frequently lag behind the private sector in terms of taking up electronic tools. ABOUT DG INTERNAL MARKET AND SERVICES, EUROPEAN COMMISSION: THE INTERNAL MARKET AND SERVICES DIRECTORATE GENERAL (DG MARKT) IS ONE OF THE DIRECTORATES GENERAL AND SPECIALISED SERVICES WHICH MAKE UP THE EUROPEAN COMMISSION. ITS MAIN ROLE IS TO COORDINATE THE COMMIS- SION S POLICY ON THE EUROPEAN SINGLE MARKET AND TO SEEK THE REMOVAL OF UNJUSTIFIED OBSTACLES TO TRADE, IN PAR- TICULAR IN THE FIELD OF SERVICES AND FINAN- CIAL MARKETS. ABOUT THE AUTHOR: BARTOSZ DWORAK IS A POLICY OFFICER IN DG MARKET, RESPONSIBLE FOR E-INVOICING AND E-PROCUREMENT. PRIOR TO THAT, HE WAS RESPONSIBLE FOR MONITORING THE IMPLEMENTATION OF COHESION POLICY PROGRAMMES AND PROJECTS IN POLAND IN THE DIRECTORATE- GENERAL FOR REGIONAL POLICY. BEFORE JOINING THE COMMISSION, HE WORKED FOR A COMPANY WHICH PIONEERED THE USE OF ELECTRONIC AUCTIONS IN PROCUREMENT.

12 10 E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE 2013 VOICE OF THE INDUSTRY European E-invoicing Service Providers VeR and EESPA Member Milestones on Our Way to Agenda 2020 Interoperability and Common Standards are just the Beginning Digital agenda for Europe According to the European Union, businesses and public bodies throughout Europe are requested to switch to electronic invoicing by the year The reasons for transitioning to e-invoicing are: stimulation of the pan-european economy through higher efficiency due to time and cost savings, reduced complexity in the financial supply chain, improved cash flow, enhanced competitiveness, less environmental pollution as well as minimized administrative burden, particularly in the public sector. Within the scope of the comprehensive initiative 'Digital Agenda for Europe', four priorities for achieving Europe-wide e-invoicing were set: Creation of a coherent legal framework Large-scale market introduction with special emphasis on SMEs Promotion of the highest possible level of acceptance by all trading partners Establishment of a European standard for electronic invoicing Pertinent measures and pilot projects have been initiated at the European level as well as in individual member states with differing degrees of insistence and speed. E-invoicing facts and figures The figures speak for themselves, and underscore the advantages of switching to area-covering e-invoicing: Approximately 33 billion invoices are issued in Europe each year; 6.5 billion thereof in Germany. 5-10% of these invoices are issued in electronic form, the remainder in paper form. Changing from paper-based to electronic invoicing means saving 60-70% of the costs per invoice. A paper-based invoice, including the whole processing and finishing chain, costs up to and public bodies alone; savings in the amount of EUR 39 billion have been forecast for Germany. It is currently assumed that the volume of electronic invoices worldwide will undergo a 20% growth this year (in Europe: 20% in B2C and 29% in B2B and B2G selling environments). The penetration of e-invoicing varies depending on which EU member state you look at. The share of electronic invoices currently ranges between 3 and 40%, with North European coun tries (Scandinavia, Finland, Iceland) clearly taking the lead. In Germany, the share is less than 10%. At present, more than 400 e-invoicing providers are active in the European market. Milestones leading up to 2020 For the Agenda 2020 to become a success, several milestones will have to be achieved along the way. Inclusion of e-invoicing into financial and payment procedures and introduction into the SEPA payments area will be of vital importance. Direct linkage between e-invoicing and online banking, already successfully working in Finland and the Baltic states, will play a major role in this process. Furthermore, integration of e-invoicing into procurement systems will be the only way to convince large sections of the economy to follow along. Implementation of the EU Directive concerning e-procurement, which shall be completed by the year 2016, will be decisive in this respect. As regards the German market, electronic invoicing should become mandatory for public sector bodies (communities and authorities). Public authorities, the largest group of invoice issuers and recipients nationwide, should adopt the motto: Lead by example. As the public sectors in other countries also rank among the biggest invoice issuers and recipients, they could exert a sweeping influence on the corporate sector. Countries like Denmark, Finland, Spain or Austria provide excellent examples. EUR 20 each % of entrepreneurs conduct business with public sector bodies. Hence the public sector will particularly benefit from the enormous savings generated by e-invoicing. Within six years, the Europe-wide transition from paper-based to electronic invoicing could lead to savings in the order of magnitude of approximately EUR 240 billion for administrative The work of national and European e-invoicing associations contributes to establishing uniform standards for future electronic invoice traffic, setting the stage for informing and supporting businesses and public authorities. While the establishment of a uniform standard is requested by the EU, we are of the opinion that the transmission of structured data instead of PDF

13 VOICE OF THE INDUSTRY E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE Marcus Laube, Co-Chair e-invoice Alliance Germany (VeR) should be pushed for as this would be the only way to realize enormous savings potentials. Consequently, the general use of structured data will be much more vital to invoice exchange than the agreement of a uniform standard. This process, especially across country borders, is highly complex and time consuming. Rather, the public sector is requested to have communities and public authorities urge their business partners to use electronic invoicing. Ultimately, however, the businesses themselves will want to benefit from the enormous savings potentials thus contributing most decisively to the realisation of the digital agenda. Therefore, the corporate and public sectors should not wait for new standards but use existing technical means or offers made by service providers in order to benefit from the advantages of the electronic invoicing process. Furthermore, political forces and organisations must see to the further development of roaming possibilities between service providers, because area-wide acceptance will only be achieved if all individual systems can cooperate smoothly with each other. Associations like the e-invoice Alliance Germany (VeR) and the European E-Invoicing Service Providers Association (EESPA) have already created the relevant foundations and developed the required contractual as well as technical standards. Even if a lot of additional work still needs to be done, great progress has already been made on the way to a seamless exchange of invoice data. Current membership numbers and continuous membership growth of the aforementioned associations illustrate this success. All in all it can be stated that a variety of different building blocks will be required to achieve the goal of the digital agenda, i. e. dispatch of a major part of invoices by electronic means only, by the year The establishment of a uniform standard does not play the essential role that is often attributed to it in public perception. 10% ABOUT VER: THE MUNICH-BASED E-INVOICE ALLIANCE (VER) REPRESENTS THE INTERESTS OF SERVICE PROVIDERS AND CONSULTING FIRMS CONCERNED WITH ELECTRONIC IN - VOICING AS WELL AS THOSE OF BUSINESSES USING E-INVOICING. AS SUCH, THE ALLIANCE CAN BE CONSIDERED THE MOUTHPIECE OF THE WHOLE E-INVOICING ECONOMY. THE VER CURRENTLY HAS OVER 45 MEMBERS. ABOUT EESPA: EESPA HAS BEEN FORMED AND REGISTERED AS AN INTERNATIONAL NON-PROFIT ASSOCIATION (AISBL) UNDER BELGIAN LAW. AS A TRADE ASSOCIATION FOR THE E-INVOICING INDUSTRY, EESPA ACTS AS A PLATFORM FOR INDUSTRY COOPERATION ON NON-COMPETITIVE ISSUES. ABOUT THE AUTHOR: MARCUS LAUBE IS THE FOUNDER AND MANAGING DIRECTOR OF CROSSINX GMBH. IN THE LAST 14 YEARS HE STUDIOUSLY APPLIED HIMSELF TO THE DEVELOPMENT OF INNOVATIVE B2B INTER NET SERVICES FOR THE FINANCIAL SUPPLY CHAIN. HE IS ALSO A FOUNDING MEMBER OF THE FORUM ELEKTRONISCHE RECHNUNG DEUTSCHLAND (FERD) (FORUM FOR ELECTRONIC INVOICING GERMANY), A MEMBER OF THE EUROPEAN COMMISSION S E-INVOICING EXPERT PANEL AND A MEMBER OF THE BOARD OF THE EUROPEAN E-INVOICING SERVICE PROVIDERS ASSOCIATION (EESPA). 50 members of the EESPA have so far agreed to a common standard

14 12 E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE 2013 VOICE OF THE INDUSTRY PEPPOL Carmen Ciciriello, Executive Communications Officer, OpenPEPPOL EXCHANGING BUSINESS DOCUMENTS WILL BECOME TRIVIAL, LEADING TO FURTHER INNOVATION IN E-PROCUREMENT; SIMILAR TO HOW APPLETS HAVE CHANGED THE WAY WE USE SMARTPHONES Could you please share more information about PEPPOL and how it came into being? What was the main driver for this European initiative and what are its key design principles? While many EU countries already use electronic procurement, most solutions are implemented on a national or regional level, each with their own separate systems and standards, creating isolated 'islands of e-procurement' operating in closed networks, making connections between buyers and suppliers costly and complex. many-to-many legal framework instead of the traditional bilateral agreements entered into between service providers. Can you give some usage data for PEPPOL such as transaction volumes, number of businesses, number of service providers, which communities, etc? Since the project ended in 2012, PEPPOL components have been implemented in 12 European countries, with over 60 PEPPOL Access Points established. Norway and Austria have made e-invoicing mandatory for public sector suppliers, offering In 2008, the PEPPOL (Pan-European Public Procurement Online) project was launched with the purpose to align business processes using common standards, address common legal issues, to develop open source technologies and an open and accessible network. The project was co-funded by the European Commission and a consortium of 18 government agencies from 11 Member States and Associated Countries: Austria, Denmark, Finland, France, Germany, Greece, Italy, Norway, Portugal, Sweden and the UK. PEPPOL e-invoicing as an implementation method. In the Norwegian market, the PEPPOL-based e-invoicing network is the fastest growing solution for e-invoicing, also being widely used between private sector entities in addition to the public domain. In Italy, the Region of Lombardia is implementing PEPPOL for e-orders, while the region Emilia Romagna is driving adoption in the health care sector for e-orders and e-invoices. Plans are currently underway for implementations in Ireland, France, Netherlands and Poland with interest increasing from outside the EU. A key feature of the PEPPOL network (based on a 4-corner model) is the freedom for suppliers to engage with an Access Point provider of their choice, to send and receive electronic documents with any organization in the PEPPOL network through one single source eliminating complex relationships with buyers, their service providers and related obligations. The network is governed by the PEPPOL Transport Infrastructure Agreements establishing a As an expert in the fields of e-procurement and e-invoicing, how would you characterize the European e-procurement landscape at present? E-procurement is still in its infancy in Europe with many different formats and standards in use. This complexity requires serious investment from large organizations and service providers, depending on the number of standards supported. SMEs are often excluded

15 VOICE OF THE INDUSTRY E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE André Hoddevik, Secretary General at OpenPEPPOL from end-to-end integration, having to settle for semi-automated document downloads that are typically processed manually. What are the key benefits PEPPOL brings to the Service Provider industry? ICT companies can offer a range of PEPPOL enabled services expanding the PEPPOL network to become global leaders for standards-based e-procurement. Software vendors can develop ERP solutions and small IT companies can access new markets by offering PEPPOL based solutions, overcoming barriers to expansion across Europe. Service providers can adopt the PEPPOL Business Interoperability Specifications (BIS), reducing the cost and complexity of supporting multiple formats and enabling system integration. We see PEPPOL as the driver of e-business interoperability in Europe, implementing standards for e-procurement processes with its network as a backbone for e-procurement in Europe. What are PEPPOL s three main objectives over the next five years? Encourage governments and their suppliers to continue implementing e-procurement using PEPPOL specifications; further develop innovative PEPPOL-based ICT products and services through membership of OpenPEPPOL and ensure the PEPPOL network continues to grow in an open, accessible and compliant manner, towards a Digital Single Market. provide translation services where national formats still exist. In your opinion, what impact can the proposal for a Directive on e-invoicing (dd 26 june 2013) have on the e-invoicing landscape? The Commission s proposal recognizes the need for a common e-invoicing standard and solicits commitment from governments to plan for convergence from national to European standards. The proposal aims to support e-procurement adoption by setting a deadline for mandatory acceptance of e-invoices by all public buyers. The introduction of legislative measures making e-invoicing a standard practice in public procurement will make the public sector a 'lead market' for e-invoicing and spearhead its wider use in the economy. A common barrier to this market evolution is resistance from mainly private organizations which have invested heavily in closed e-business networks. This is a perfectly natural reaction that will shift as adoption increases and e-procurement models are driven by much wider market demand. Where do you see Europe in 10 years time? Will we have solved the issue of interoperability and managed to eliminate paper-based processes? In 10 years we believe the majority of governments will have realized interoperability through the use of a common European standard. Industry specific standards will be interoperable with EU specifications and ERP vendors will have led the way in ABOUT PEPPOL: THE OPENPEPPOL ASSO- CIATION WAS SET UP IN SEPTEMBER 2012, TO TAKE RESPONSIBILITY FOR THE MAINTENANCE OF THE PEPPOL SPECIFICATIONS AND TO PRO- MOTE IMPLEMENTATION ACROSS EUROPE. IN ITS FIRST YEAR OF OPERATION, OVER 75 MEMBERS HAVE JOINED FROM BOTH THE PUBLIC AND PRIVATE SECTORS IN 18 COUNTRIES. ABOUT THE AUTHORS: CARMEN CICIRIELLO IS RESPONSIBLE FOR COMMUNICATIONS AND RECRUITMENT OF EUROPEAN GOVERNMENTS FOR OPENPEPPOL. SHE IS A MEMBER OF THE EC STAKEHOLDER EXPERT GROUP ON PUBLIC PROCUREMENT AND OF THE PAYMENT SYSTEMS MARKET EXPERT GROUP. SHE IS ALSO THE CEO OF CELERIS LTD. ANDRÉ HODDEVIK IS HEAD OF E-PROCUREMENT UNIT IN DEPARTMENT FOR PUBLIC PROCURE- MENT IN DIFI, THE NORWEGIAN AGENCY FOR PUBLIC MANAGEMENT AND EGOVERNMENT. HE IS CURRENTLY THE SECRETARY GENERAL OF OPENPEPPOL AISBL.

16 14 E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE 2013 VOICE OF THE INDUSTRY EBA Supply Chain Finance Comes of Age The Euro Banking Association (EBA) has published a comprehensive Market Guide on Supply Chain Finance (SCF) based on the work of its Supply Chain Working Group (SCWG) established in The SCF instruments in focus are as follows: Accounts Payable or Buyer-centric called Approved Payables Finance or sometimes Reverse Factoring, Supplier Finance or Confirming, and sometimes (confusingly) simply Supply Chain Finance, based on the discounted payment of accounts payable in favour of suppliers by accessing a financial institution s or a buyer s own liquidity. Accounts Receivable or Supplier-centric such as Receivables Finance, Receivables Purchase, Invoice Discounting and Factoring. Inventory-centric (or pre-shipment ) such as Purchase Order (P.O.)-based Finance and Inventory Finance. Bank Payment Obligation (BPO) an interbank instrument developed by SWIFT and now adopted by the International Chamber of Commerce through the Uniform Rules for the Bank Payment Obligation (URBPO). Traditional documentary trade finance such as Letters of Credit, and documentary and trade loans. Complemented by other instruments and enablers, e.g. other types of asset finance, export and project finance, and hedging and payment instruments. Ecosystem Working capital management is a pressing issue and with the availability of automation and internet technology an array of supply chain management techniques are evolving. Large buyers are often seeking to lengthen payment terms and suppliers are subject to liquidity pressures. On this basis, a new market for SCF is growing rapidly, although it is currently a niche activity, which engages larger buyers and suppliers, and has yet to apply its potential to the SME segment, where there is considerable demand for new sources of finance. Definitions There is a need to take great care with the language used by practitioners and drive towards much greater clarity of definitions and commonly used terms. This is illustrated by the definition of SCF itself, which sometimes is used as an umbrella term for a whole range of financial instruments and sometimes denotes a specific technique or component of the SCF portfolio. Supply Chain Finance is defined as the use of financial instruments, practices and technologies to optimise the management of the working capital and liquidity tied up in supply chain processes for collaborating business partners. SCF is largely event-driven. Each intervention (finance, risk mitigation or payment) in the financial supply chain is driven by an event in the physical supply chain. The development of advanced technologies to track and control events in the physical supply chain creates opportunities to automate the initiation of SCF interventions. The next levels of definition are not well established. There is a plethora of proprietary language in use. In response, various organisations have started to build glossaries and bodies of knowledge to support their members. The most noteworthy and active is the Bankers Association for Finance and Trade- International Financial Services Association (BAFT IFSA). The definitions elaborated by BAFT-IFSA are worthy of support. The International Chamber of Commerce (ICC) has created the universally respected industry definitions of traditional documentary trade finance instruments. ICC has codified the definition of the Bank Payment Obligation. For other open account based SCF areas, ICC could also engage further in the definition process. It is recommended that a representative international round table be formed to develop further convergence.

17 VOICE OF THE INDUSTRY E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE Charles Bryant, Senior Adviser, EBA Risk and regulation With regard to internal risk management, measures are proposed to adequately manage SCF business lines and risks, together with a number of searching questions that bankers could usefully ask themselves. Concern is expressed by bankers that Basel III and its European counterpart, the Capital Requirements Directive IV, propose tighter risk and capital allocations than its predecessor Basel II with possible impacts on the availability of finance to Industry collaboration is recognised as a growing need and the EBA SCWG has identified numerous areas of potential collaboration. Beyond the competitive space, where collaboration has no role, there is potential for collaboration on a bilateral basis through partnerships or commercial contracts. Collaboration on a multilateral basis between market participants in areas defined as being non-competitive, non-infringing of competition law will also support overall market development. underpin growth in world trade. Reference is made to a set of proposed guidelines in relation to AML and regulatory compliance and a further regulatory aspect concerns the accounting treatment of SCF. Automation: e-invoicing is a game changer Automation refers to the range of IT-based and business tools that support the management of supply chains. With the increasing use of fully automated end-to-end solutions, the transmission of dematerialised business documents over a B2B network can now mean that SCF offerings can be substantially automated. A key aspect is the ability to accelerate cycle times especially invoice, payment and other approvals in order to trigger event-driven SCF interventions. The growing popularity of B2B networks, which support e-invoicing and supply chain automation, is bringing to bear capabilities and benefits to end-users and other intermediaries such as financial institutions. Through its dematerialisation and the acceleration effects, e-invoicing is clearly demonstrating its potential as a game-changer for the SCF business. Through organisations such as the European E-invoicing Service Providers Association (EESPA), e-invoice interoperability is very much in focus. Collaboration and Competition In a network industry, a debate takes place about the relevant roles of competition and collaboration between market participants. Up to now, SCF has largely been conducted as a purely competitive activity with industry cooperation limited to asset distribution and the activities of some successful collaborative finance platforms. ABOUT ABE-EBA: AS A COUNTRY-NEUTRAL BANKING ASSOCIATION FOR PAYMENT AND TRANSACTION BANKING PRACTITIONERS WITH A PAN-EUROPEAN MINDSET AND VISION, THE EURO BANKING ASSOCIATION (EBA) CONTINUES TO MONITOR SUPPLY CHAIN DEVELOPMENTS. FOR FURTHER INFORMATION, PLEASE VISIT OUR WEBSITE THE EBA MARKET GUIDE CAN BE DOWNLOADED AT SCF.ASPX. ABOUT THE AUTHOR: CHARLES BRYANT IS SENIOR ADVISER TO THE EURO BANKING ASSOCIATION AND VICE-CHAIR OF EESPA, AS WELL AS EUROPEAN AFFAIRS ADVISER AT OB10. HIS CO-AUTHOR FOR THE EBA MARKET GUIDE IS ENRICO CAMERINELLI, SENIOR ANALYST AT THE AITE GROUP.

18 THOUGHT LEADERSHIP SECTION

19 INDUSTRY LEADERS DISCUSS: E-INVOICING AS THE DRIVER OF A REVOLUTION IN BUSINESS PRODUCTIVITY COLLABORATIVE WORKFLOW: A VALUE DRIVEN APPROACH TO THE LACK OF AUTOMATION MULTI-CHANNEL BILL PAYMENT: THE CBILL SERVICE SIMPLERINVOICING: THE NEW EUROPEAN E-INVOICING SCHEME

20 18 E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE 2013 THOUGHT LEADERSHIP Ariba WE ARE ON THE CUSP OF THE NEXT REVOLUTION IN BUSINESS PRODUCTIVITY WITH EVERY PROCESS THAT TOUCHES THE EDGE OF THE ENTERPRISE RUNNING EVEN BETTER THROUGH A BUSINESS NETWORK What trends do you see in the future for e-invoicing in Europe? There is so much happening in Europe right now; it s a very exciting partnership. In fact it s one of our fastest growing solution areas as it capitalises on the connectivity and efficiency of the Ariba Network to help both buyers and their suppliers. time. E-invoicing is set to continue its rapid growth, helped by the impending B2G e-invoicing programs and EU-wide projects like PEPPOL. I also expect to see more governments implement central invoice 'check-in' systems to reduce tax evasion; many are looking at Latin America and Portugal closely. Across Europe we have an interesting mix of solutions per country and it certainly isn t one size fits all. In Germany early payment discounting is quite standard and corporates have geared up their AP departments to process invoices quickly to obtain the discounts; a perfect landscape for dynamic discounting. Compare In general, I am seeing the breaking down of walls between pro cure ment and finance with realisation that it s a connected that with Spain where the practice of supply chain financing, called Confirming, is common place. process; shifting to much more strategic programmes. A common theme I m hearing is the move away from siloed processes and how corporates are on a journey. E-invoicing may be a popular star ting point but large corporates are talking about connecting their supply chain to trade electronically; e-invoices are just one document in one process. Adding related P2P documents are now the baseline, with the journey including items such as e-sourcing, e-procurement and working capital management. You mentioned working capital management, what are you seeing from your customer base? The journey our customer base is taking typically starts with Looking to the future I can see the lines being further blurred be tween who offers up the credit for early payment with buyers, credit card companies, factoring agents, banks and high net worth individuals all playing a part. The EBA recently published a paper on e-invoicing and SCF and it's worth a read for those interested in that space. Combine this with the big data movement and network metrics can allow 3rd parties to provide funding across the whole P2P cycle from winning a sourcing event, receiving a PO right through to any inventory they hold; the invoice-only approach we see today will be just the start. e-invoicing and discounting together as they make a perfect

21 THOUGHT LEADERSHIP E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE Richard Downs, Network & Manage Cash Solution Marketing Director, EMEA, Ariba What has the acquisition of Ariba by SAP meant for your Network? As you can imagine there is a lot going on since the acquisition and we have taken care to make sure the combined product portfolio is clearly defined. SAP has truly understood what the Network side of Ariba is about and it s nice to see something you are really passionate about being embraced and helping the company grow. If you look at the latest Q2 numbers, cloud subscription and support revenue, was up 171% to EUR 159 million; new and upsell bookings (a key indicator of the health of any cloud business) grew 40% year on year to EUR 170 million; the Ariba Network added another 100,000 suppliers. The Ariba Network is the world s largest and most global network. Even our competitors acknowledge that more business is done on the Ariba Network than anywhere else. What does the future hold for Ariba? For SAP, the Ariba Network is the foundation for their business network strategy and is the single point to interact with all your trading partners. Both SAP and its vast partner community are busy building new applications that leverage the Ariba Network to support new processes and industry specific capabilities. We truly believe that every process that touches the edge of the enterprise will run even better through a Business Network. From a solution standpoint we have developed an SAP Rapid Deployment Solution for connecting the Ariba Network to an SAP We are really just on the cusp of the next revolution in business productivity. ERP in around 1/3 of the time and have developed integration and roadmap items for SAP s complimentary offerings such as Crossgate and OpenText. We recently announced our nextgeneration Services Procurement solution which harnesses network-based intelligence to deliver candidate ratings, market trends, and rates; and significantly enhanced our Contract Invoicing solution which automatically checks invoices against contracts to streamline the receipt and processing of service and utility based invoices. Do you have any words on your supplier fees other vendors seem to be heavily targeting this aspect of your model. I think this shows the excitement of the market we are in right now. Vendors are going to market with all different types of pricing strategies and Ariba does not hide the fact that we operate a two sided Freemium model it s often forgotten in the marketing messages of our competition that over 70% of the Ariba Network participants pay nothing. The real value of networks comes from when you have massive scale and global coverage to support all aspects of the commerce process and deliver massive value to all participants buyers, sellers, bankers and others that are connected. ABOUT ARIBA: ARIBA, AN SAP COMPANY IS THE WORLD S BUSINESS COMMERCE NETWORK. ARIBA COMBINES INDUSTRY-LEADING CLOUD- BASED APPLICATIONS WITH THE WORLD'S LARGEST WEB-BASED TRADING COMMUNITY TO HELP COMPANIES DISCOVER AND COLLA- BORATE WITH A GLOBAL NETWORK OF PART- NERS. OVER ONE MILLION COMPANIES AROUND THE WORLD USE THE ARIBA NETWORK. JOIN THEM AT: ABOUT THE AUTHOR: RICHARD IS RESPONSI- BLE FOR ALL ASPECTS OF PRODUCT MARKE- TING FOR ARIBA S ACCOUNTS PAYABLE AND TREASURY SOLUTIONS WITHIN EMEA. RICHARD BRINGS OVER 12 YEARS OF SALES AND FINANCE AUTOMATION EXPERIENCE TO ARIBA, RESULTING IN A WEALTH OF DETAILED KNOW- LEDGE AROUND GLOBAL ACCOUNTS PAYABLE PRACTICES AND TRENDS.

22 20 E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE 2013 THOUGHT LEADERSHIP Tradeshift The Tradeshift Platform Reinvents Work flow with a Value Driven Approach Tradeshift s unique position, value system and our approach to business has helped to lay the groundwork for what s been the greatest addition to our platform - Tradeshift Collaborative Workflow. Even the way we structure our company - with offices in San Francisco, Copenhagen, London, Amsterdam and Shanghai - we understand the importance of real human interaction between employees. We go to great lengths to ensure our team members - regardless of office location, time zone or department - have the resources they need to do their jobs efficiently and successfully. Understanding our values and the way we do business as a global company reveals a lot about Tradeshift Collaborative Workflow and why it is being adopted by leading enterprises around the world. We believe in the democratization of business We value transparency over closed systems We believe in collaboration over command and control We want to empower the individual, not micro-manage the process As our team began to develop Tradeshift s workflow solution we first examined the systems that had come before. We quickly noticed something. For years, workflow solutions had been nothing more than electronic assembly lines. Documents were received and each user had a very specific task to complete. The document then moved on to the next employee or user for further validation. The entire process lacked collaboration and human interaction yet companies had been using valuable and expensive human resources to complete it. We decided a new approach was needed. One that enabled automation, promoted human interaction, problem solving and embraced the advancements we ve made in cloud-computing and software design. Automation The first issue that Tradeshift Tradeshift Collaborative Workflow addresses is automation - or rather the lack of automation. So much time is spent and so many human resources are re quired to verify information on business documents. Tradeshift Collaborative Workflow now automates much of this mundane work. Enterprises are able to specify their own invoice requirements and Tradeshift s Business Firewall ensures only documents meeting those business rules are approved to enter the ERP. What you re left with are only the documents with exceptions - the documents that actually do require human interaction. Collaboration And this is where collaboration comes into play. By automating so much of the old process, employees are now free to spend time on the issues that matter - to problem solve. Tradeshift Collaborative Workflow allows employees to take action on documents that require attention in real-time. For true collaboration to exist it must extend beyond the walls of your organization. Modern workflow requires the involvement of both buyers and suppliers. Including suppliers in the process allows all stakeholders to play an active role ensuring documents are accurate the first time. Suppliers are more than just vendors - they are business partners. Tradeshift Collaborative Workflow allows suppliers to know when a document has been approved or if it requires further action - all before it reaches a buyer s ERP. Collaboration like this supports the processes of all involved, saves valuable time and money and improves business relationships. Innovation While working with our customers to determine the most critical issues they were facing when it came to processing documents we discovered that much of the technology they were depending on was simply archaic. Getting things done efficiently and in real-time - when it matters most. This, they said, was absolutely vital. Yet their business software was holding them back. By embracing advancements in cloud computing and software design Tradeshift Collaborative

23 THOUGHT LEADERSHIP E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE Christian Lanng, CEO and Co-founder of Tradeshift Workflow is helping to bring enterprise computing into the 21st century. First and foremost - by adding mobile capabilities. For employees to succeed they need the right set of tools - tools that understand and complement the modern working environment. Today s workforce is on the go. Software users are no longer at their desks from nine to five. Tradeshift Collaborative Workflow addresses this with HTML 5 responsive design. Emplo yees can take action on documents and engage with each other from their smartphone or tablet without sacrificing any of the functionality they are used to getting at their desktop. This is just the beginning The Tradeshift platform is opening even more doors to innovation in the world of workflow. Companies on the platform and third parties are already building additional functionality into the Collabora tive Workflow apps to customize and bolster the existing functionality. Tradeshift Collaborative Workflow brings back the social aspects of business. It is a way for colleagues to act on, process and collaborate around key business interactions in real time, no matter where they sit in or outside of your organization. ABOUT TRADESHIFT: TRADESHIFT IS A PLAT- FORM FOR ALL YOUR BUSINESS INTERACTIONS. IT HELPS COMPANIES RUN MORE EFFICIENTLY BY HARNESSING THE POWER OF THEIR NET- WORK TO CREATE NEW VALUE FROM OLD PROCESSES LIKE INVOICING, PAYMENTS AND WORKFLOW. By automating much of the traditional work required to process transactions employees are free to attend to the work that matters and requires attention. Tradeshift solves process challenges with innovative technology. But we also solve technology challenges through human ingenuity. You can find out more about the Tradeshift platform and Collaborative Workflow at tradeshift.com. LAUNCHED IN 2010, TRADESHIFT CONNECTS 500,000 COMPANIES ACROSS 190 COUNTRIES. CUSTOMERS INCLUDE THE NHS, DHL, FRENCH GOVERNMENT AND KUEHNE+NAGEL. ABOUT THE AUTHOR: CHRISTIAN LANNG IS CEO AND CO-FOUNDER OF TRADESHIFT. CHRISTIAN LAUNCHED TRADESHIFT IN 2010 ON THE BELIEF THAT MODERN BUSINESS IS BROKEN. AFTER LEADING AN INITIATIVE WITHIN THE DANISH GOVERNMENT THAT BROUGHT E-BUSINESS TO THE 95% OF THE COUNTRY, HE AND HIS CO-FOUNDERS CREATED TRADESHIFT TO SPREAD WHAT THEY HAD LEARNED TO EVERY COMPANY IN THE WORLD.

24 22 E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE 2013 THOUGHT LEADERSHIP Dutch Harbor Payment and Payment Terms from a Chief Procurement Officer's Perspective Somebody has to pay, just not me Ask a Chief Procurement Officer (CPO) or indeed anyone s -- perspective on what his preferred payment term is and the answer may well be jokingly never. Dig a little deeper, and the answer likely becomes a little more practical and sobering. Because in reality most CPO s have one of two general approaches: I don t know, because someone else pays (i.e. Finance, AP) I don t care, unless the CFO can make me care This doesn t mean a CPO doesn t care about cost. Indeed, that s usually the 1 st item and KPI on which he is measured: how much did you save over the past quarter? However, it does mean that in the set of tools the CPO has, payment terms are a minor one. Considering the range of activities such as requirement discovery, product or service specifications, negotiating contracts, keeping up with trends, maintaining relations with suppliers and within his own organization, cash management just isn t an issue. Barring the two options of pay now or let others pay, which can surprisingly be negotiated more often than you d expect, paying for services or products rendered is mostly an afterthought. In most contracts it boils down to a hygiene-type element of discussion completely at the end of contracting, ending with a supplier statement of we can comply with X days if you accept a Y% price increase. Which in turn leads to a direct conflict with the CFO. Why? Well, usually a CPO is judged based on direct costs from a profit and a loss of perspective, while the CFO has cash management to worry about as well. This in turn can lead to quite tiring discussions which from a CPO s perspective are totally pointless: you ll pay in the end anyway. Even worse, if discussions stay rigid, both the CPO and CFO can resort to unproductive behavior. One prime example we encounter frequently is back-dating invoices (or ordering the supplier to do so) so payments seem longer overdue than they really are. Another is the CFO letting his AP department phone up strategic relationships without discussing with the CPO and unilaterally trying to change payment terms or simply withhold payment. In a more positive dynamic, the CPO and CFO discover mutual ground: money is power, so withholding money as long as possible gives the CPO power to effectively manage suppliers. As long as both CPO and CFO realize this and use it appropriately, they will get along great. Money is power Our company negotiates, restructures and monitors commercial agreements on behalf of our clients. One of the key concerns in any of these interactions is always power dynamics: who needs who, where lie the hidden interests of the players involved and what tools (weapons?) can be employed in order to get the best possible arrangement for the company you represent. Setting payment conditions is just a tool in a very big negotiation box, yet still an important one. This is because just as in property, possession is nine tenths of the law. The law itself is the other tenth. As long as a company holds the cash and (approval of) payment in hand, it has a very real insurance policy and pressure tool which can be applied not only in relation to services already (inadequately) rendered, but also against future deliveries of its suppliers. An outstanding cash balance will ensure plenty of attention as not only is the current delivery invoice on the line, the previous one is as well. And as we all learned of banks, mortgage financers and automotive companies in recent times: if you run up the bill high enough, you become too big to fail for your creditor.

25 THOUGHT LEADERSHIP E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE Dr. Erik van Breusegem, COO & Procurement Engineer, Dutch Harbor Even though from a legal perspective you gain no additional leverage by ensuring payment in regular business happens as late as possible, in practice it does give significant power and control. This is especially true in strategic and deep supplier relationships, as neither party wants to escalate too much. Delaying payment or When played well, the final step can be a new product or service, paid for by the marketing department of research department of your suppliers in a limited time exclusive deal, blocking potential competitors. As they say, the best things in life are free. And in that case we are more than happy to accept 14 days payment. part of a payment can be an effective tactic, when used sparingly. Setting up a contract in line with this may also make the CFO happy since it means decreasing working capital and higher return on assets, yet always keep in mind the fact that for the CPO it is a minor issue, and he makes the deals. My precious supplier For precisely the same reason, power and control, from a CPO s perspective we tend to shy away from any financial services resembling factoring, reverse factoring or even credit pooling and credit insurance. In niche cases or for very small companies they can be useful to reduce administrative burden, in practice they usually destroy value as they take away power and control. Good suppliers are a hard find, and great suppliers who give you a competitive advantage in the marketplace are a treasure. Lower costs and better quality of the service and products you procure result in better products or a lower price point for your customers. Shaving 1% from your sourced costs financially speaking easily equates to 10% higher sales. In addition, substandard or even faulty components destroy your reputation in the market. If that happens, your customers won t hold your suppliers responsible, but you. Therefore, you need every ounce of influence you can muster on your suppliers to make sure they give you the right inputs. This in turns means that in a healthy buyer supplier relation a CPO s role is mostly about educating and translating the requirements of his company s customers to his company s suppliers. Surprisingly, this means a great CPO is a great salesman, also in his internal organization. To make this point even stronger, the best CPOs make sure the sales representatives on the supplier side is spending his time not selling to the CPO, but selling to his own management. ABOUT DUTCH HARBOR: DUTCH HARBOR, BASED IN AMSTERDAM, IS A BPO FIRM FO CUSED AT INDIRECT SPEND. TOGETHER WITH OUR CLIENTS WE LOWER INDIRECT SPENDING, INCREASE THE SUPPORT GIVEN TO THE CORE BUSINESS AND IMPROVE SUPPLIER RELATIONS. PLEASE VISIT OUR WEBSITE FOR A MORE IN-DEPTH DESCRIPTION OF OUR COMPANY. ABOUT THE AUTHOR: DR. ERIK VAN BREUSEGEM, IS COO AND PROCUREMENT ENGINEER AT DUTCH HARBOR. PRIOR TO STARTING HIS COMPANY TOGETHER WITH ANDRÉ FILET, HE WAS A STRATEGY AND MANAGEMENT CONSUL- TANT AT BCG (THE BOSTON CONSULTING GROUPS). ERIK HOLDS A PHD IN COMPUTER SCIENCE AND LIVES IN AMSTERDAM, THE NETHERLANDS. FIND HIM AT ERIK.VANBREUSEGEM@DUTCH- HARBOR.NL OR

26 THE PAYPERS - INSIGHTS IN PAYMENTS The Paypers ( is the leading independent source of news and analyses for professionals in the global payment industry. Our products are created by payment professionals and cover all significant developments in financial transactions, with a special focus on online payments, online banking, mobile payments, e-invoicing, e-identity and SEPA. Our portfolio includes headlines, newsletters, company profiles, publications, events, jobs, buyer s guides and advertising via multiple media channels and social networks. Insights in payments this is what the Paypers is all about. On the one hand readers get deep insight into the payment industry and on the other hand for companies the Paypers offers a great advertising portfolio. For example, with our DIMOCO hub we handle mobile payment transactions in the Central- and Eastern European countries. That means that we are a niche player and the Paypers is an ideal partner for us Margit Anglmaier - Vice President Corporate Communications - DIMOCO News and analysis The Paypers offers a wide range of news and analysis products: Real-time online news on our website, with breaking news on Twitter and LinkedIn Free daily headlines, covering the fast-paced developments in the global payment industry News Paypers, weekly overview of this week s most important news into your mailbox. RSS feeds for all news articles, selectable by category Online database with a searchable news archive dating back 7 years. Premium newsletters providing a bi-weekly overview of industry news and analysis Analyses on current market developments and future opportunities Research reports detailing developments in specific markets and industry niches Annual payment topic guides with a global market overview of companies, services and products. The Paypers readership

27 BANKS - AN ESSENTIAL PART OF THE E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING ECOSYSTEM

28 26 E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE 2013 THOUGHT LEADERSHIP SWIFT Ahead of the Sibos Corporate Forum André Casterman explains how services designed for the corporate community are independent of their banking relation ships SWIFT has long had a commitment to enable corporate treasurers and finance managers to improve the security, reliability and efficie ncy of their financial operations and this is reflected in the dedicated Corporate Forum at Sibos Dubai Now its seventh year, corporate conference sessions include topics covering: global cash visibility; best practices on centralisation of treasury functions; working capital optimisation; regulatory challenges; supply chain finance Over the past 12 months, we at SWIFT have redefined our value proposition to deliver more integrated service offerings, reinforcing our ability and commitment to support corporates directly through our connectivity services, and indirectly by assisting banks to deliver innovative, automated and standardised services for treasury and trade. Strategic pillars for corporate treasury efficiency An important element of our strategy for corporates is that services should be available to the corporate community irrespective of whether they connect to their banks through SWIFT or another channel. As a reflection of this strategy, we are basing our activities around a number of objectives as follows: 1. Easing connectivity Enabling corporate treasurers and finance managers to connect to either one or multiple banks, and access a variety of services reliably and securely through SWIFT remains a pivotal part of our strategy. New customers in particular are now most likely to connect to SWIFT through our cloud-based solution, Alliance Lite2. We are also working with providers of cloud-based financial applications to deliver integrated solutions that meet corporates financial processing, management and connectivity requirements through a single access point. Whereas the SWIFT channel has traditionally been used for payments and cash management, it has recently been extended by banks and corporates for multi asset class matching, documentary trade, supply chain finance, end-of-period statements and regulatory reporting. This includes being able to support key regulatory requirements on both SEPA (Single Euro Payments Area) and EMIR (European Markets Infrastructure Regulation). 2. Pioneering standardisation and referential integrity With ISO formats now the standard not only for SEPA payment instruments but accepted as a global standard for financial transactions, SWIFT is now widely seen as the industry facilitator for standardisation initiatives. For example, the CGI (Common Global Implementation) Group provides a forum for banks, corporates, vendors and other industry participants to establish clear guidelines on the use of ISO messages and progress other payments-related activities. SWIFT s MyStandards platform has a major role to play in this corporate-to-bank standardisation dialogue. MyStandards is a web-based repository that enables banks to publish messaging guidelines and schema so that their customers can see how each bank is implementing formats and standards. Corporate users can use MyStandards to search for content in a structured way, access information easily and communicate with other users to share experiences and best practices. Another source of vital reference data for corporates is SWIFTRef, a global ISO registry of all BIC codes for financial institutions and corporates across more than 200 countries, whether connected to SWIFT or not. SWIFTRef also provides national bank identification codes, bank name, address and contact details, SEPA data including routing information and IBAN validation and banks standard settlement instructions for treasury and wholesale payments globally, together with a wide range of bank, currency and country information.

29 THOUGHT LEADERSHIP E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE André Casterman, Head of Corporate and Supply Chain Markets, SWIFT 3. Enabling personal digital identity for financial transactions Faced with increasing security concerns and risks of internal fraud, corporates and banks are looking for ways to extend controls on their banking communication channels. Banks have responded to such needs with advanced user identity and mandate management services, traditionally limited to their online banking channels, now also available on their direct connectivity channels. Collaboration and standardisation marks an exciting and dynamic period for corporates and the banks that support them. Collaboration and standardisation are critical to the success of the treasury and trade innovations to avoid the proliferation of expensive, noninteroperable proprietary solutions that ultimately conflict with corporates efficiency, simplification and harmonisation objectives. Delivering robust security solutions is an essential element of SWIFT s role as a facilitator of corporate to bank communications. SWIFT s 3SKey identity solution is an example of how SWIFT is developing solutions that enable banks to enhance their security and mandate management services without the need for each bank to invest individually. With 3SKey, corporate users can use one security token rather than having to use an array of bankspecific tokens. 3SKey can be combined with the ISO ebam standards for corporates wishing to manage mandates through multi-bank solutions. 4. Facilitating corporate-to-corporate trade flows While most of SWIFT s corporate-related efforts have focused on facilitating the corporate-to-bank dialogue, we have worked with the ICC to develop a new payment method for international trade. The new Bank Payment Obligation (BPO) provides greater payment assurance and enable banks to provide pre- and postshipment finance. Given the limitations of the current SCF set-ups, we have developed new legal and operational standards that will bring the market to new levels both in market size and in product scope. By introducing such standards, banks aim to move the market from the 3-corner (or single-bank closed model) to the 4-corner model (or two-bank interoperable model). In order to offer BPO-based services, banks need to implement the inter-bank Uniform Rules for BPO (URBPO) as well as the underlying messaging standards. This is facilitated by SWIFT s ISO compliant inter-bank messaging and transaction matching cloud application called Trade Services Utility. For banks, the BPO is also convenient to use as it integrates into the correspondent banking agreements that banks have in place for international payment and trade transactions. ABOUT SWIFT: SWIFT IS A MEMBER-OWNED COOPERATIVE THAT PROVIDES THE COMMUNI- CA TIONS PLATFORM, PRODUCTS AND SER- VICES TO CONNECT MORE THAN 10,000 FINAN- CIAL INSTITUTIONS AND CORPORATIONS IN 212 COUNTRIES. SWIFT ENABLES ITS USERS TO EXCHANGE AUTOMATED, STANDARDISED FINAN CIAL INFORMATION SECURELY AND RELIABLY, THEREBY LOWERING COSTS, REDU- CING OPERATIONAL RISK AND ELIMINATING OPERATIONAL INEFFICIENCIES. ABOUT THE AUTHOR: ANDRÉ CASTERMAN HEADS UP SWIFT S STRATEGY AND BUSINESS DEVELOPMENT IN THE CORPORATE AND TRADE MARKETS. HIS RESPONSIBILITIES COVER PAYMENTS AND CASH MANAGEMENT, TREASURY, TRADE AND SUPPLY CHAIN FINANCE. ANDRÉ IS ALSO A MEMBER OF THE EXECUTIVE COMMITTEE OF THE BANKING COM- MISSION OF THE INTERNATIONAL CHAM BER OF COMMERCE (ICC) WHERE HE CO-CHAIRS THE BANK PAYMENT OBLIGATION PROJECT.

30 28 E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE 2013 THOUGHT LEADERSHIP Consorzio CBI Electronic Invoice and CBILL: CBI Services for a New Public Administration Are Friendlier to Businesses & Citizens In recent years, the banking market has grasped that maximizing collaborative activities may represent the keystone to improving competitive offerings for corporates and other customers. In the scenario of market uncertainty that we have faced for some time now, in which a focus on investment is key, the value generated by coope rative investments according to a synergistic approach may considerably exceed that of investments by individuals. The Consorzio CBI has always been ready to investigate and monitor the financial services market, with the aim of consolidating its role as a facilitator in the exchange of financial and informational flows between businesses, citizens, financial institutions and the public administration, with the goal of rendering collection, payment, clearing and document management procedures more efficient from an economic and organizational standpoint. Managing a modern infrastructure, the Consorzio CBI defines inter-operational technical and regulatory standards that allow 620 financial institutions (95% of Italian banks, the Italian Post Office and CartaLis) to offer competitive services, procedures, information, documentation management and e-billing to over 900,000 customers (firms and the public administration). In recent years, the Consorzio CBI has seen its mission transformed, developing advanced services and focusing its planning on new markets and customer segments, including the public administration and retail. In fact, innovation in its range of services led the Consorzio CBI to implement its CBILL service in the course of the past year. Multi-channel bill payment: The CBILL service Operational since February 1st, 2013, the CBILL service will allow financial institutions to offer new, more efficient ways to pay bills thanks to the advantages it provides to customers and billers. In fact, CBILL will allow home banking and/or corporate banking users to consult and pay bills (i.e., documents that inform a citizen or a company of the amount due in return for a service rendered or an administrative obligation) issued by billers. The CBILL service is thus aimed at both retail users, who will be able to pay their bills through multiple channels (home banking, ATMs, smartphones, etc.), and billers, which will be able to send bill data to their customers, thus enabling electronic payment and fostering a transition to a paperless system. The electronic invoice for digitalisation and process efficiency Remaining on the same subject, attention should be drawn to a further important step towards digitalisation, relating to the entry into force in June of the second implementation decree for the 2008 Italian Finance Act, which had made electronic invoicing com pulsory in dealings between economic operators and public administrations, including autonomous entities. In keeping with the new legal obligations, the electronic invoicing service offered by financial institutions on the CBI channel will allow businesses and public administrations to send and receive electronic invoices, with the reduction of costs and optimisation of processes. The importance of electronic invoicing is even clearer in a financial crisis situation, which drives companies to request innovative solutions that meet an increasing need to keep working capital liquid by improving the efficiency of all of the various phases of the sales and financial process. Thanks to the CBI Consortium's work, financial institutions are able to offer electronic invoicing and, more generally, paperless services, as well as the correlated financial services, ensuring that businesses enjoy full integration of the entire financial value chain, from invoice transmission to automatic generation of collection/payment and the associated reporting and automatic reconciliation. The benefits in terms of cost reduction are evident: the cost savings that may be obtained through the electronic process ranges from 60% to 90%, a percentage which increases in a manner proportional to the number of businesses that adopt electronic invoicing processes.

31 THOUGHT LEADERSHIP E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE Liliana Fratini Passi, General Manager, Consorzio CBI In addition, according to the study published by Milan Polytechnic in May 2013, each year 45 billion documents are produced, re quiring 10 billion man-hours to be managed: the conversion of processes to paperless form would generate savings of over EUR Italy's Ministry of the Economy and Finances, following an agree ment with the ABI, to allow access by banks and financial intermediaries to the electronic platform that manages the certification of accounts receivable. 15 billion for the public administration alone. While convinced of the importance of electronic invoicing, businesses have thus far seen fit to wait, in part for the legal framework of exchanges between businesses and the public administration to be complete. Finally, this appears to be a reality with the issuance of the second The Consorzio CBI s experience is thus evidence that the Italian financial industry is ready to compete effectively on the domestic and international market, thus supporting the development of the entire national economy. implementation decree. The Consorzio CBI, which for years has been observing the matter in the major Italian and international venues, not only participates in the Italian Stakeholder Forum, but also has always acted as a promoter of initiatives, including of a private nature, in support of the process of eliminating the digital divide. The completion of the legal framework, as the basis for pushing for the creation of a Digital Italy, could thus speed both the dissemination of electronic invoices and the modernisation and conversion to paperless format of other processes involving the public administration, and consequently businesses and citizens. The Access Point service in support of the public administration In addition, the public administration's innovation needs are resulting in the creation of new collaborative projects with the banking sector through the definition of personalized financial services. Those agreements have led to specific plans to offer the public administration personalised services, provided through the CBI Access Point service, whereby the public administration can interface efficiently with the entire banking industry. This Access Point service is currently available to: Italy's Ministry of the Economy and Finances for needs arising from the financial monitoring of large public works and the certification of accounts receivable from the public administration; Equitalia, for the management of the treasury of the Group and Equitalia Giustizia for the Consolidated Justice Fund; the Italian Revenue Service, for portal-based payments by Web users of the portal (former Land Register) and the channelling of F24 payment instructions from the Entratel channel; ABOUT CONSORZIO CBI: THE CONSORZIO CBI WAS CREATED BY THE ITALIAN BANKING ASSOCIATION IN 2001 AND IS RESPONSIBLE FOR MANAGING A MODERN INFRASTRUCTURE AND DEFINING INTER-OPERATIONAL TECHNI- CAL AND REGULATORY STANDARDS WHICH ALLOW 620 FINANCIAL INSTITUTIONS (95% OF ITALIAN BANKS, THE ITALIAN POST OFFICE AND CARTALIS) TO OFFER COMPETITIVE SERVICES, PROCEDURES, INFORMATION, DOCUMEN- TATION MANAGEMENT AND E-BILLING TO OVER 900,000 CUSTOMERS (FIRMS AND THE PUBLIC ADMINISTRATION). ABOUT THE AUTHOR: LILIANA FRATINI PASSI, GENERAL MANAGER OF CONSORZIO CBI, IS ALSO "LIAISON TO ISO TC68 FINANCIAL SERVICES" FOR THE UNCEFACT AND DELEGATE AT THE UN/CEFACT FOR PDA (FINANCE AND PAYMENT), MEMBER OF THE ISO20022 RMG BOARD, THE IPFA AND THE CEN WORKSHOP ON E-INVOICE AND A JOINT COORDINATOR OF THE ITALIAN STAKEHOLDER FORUM ON E-INVOICING.

32 STAY INFORMED WITH THE PAYPERS! Online Paypers Mobile Paypers E-invoicing Paypers SEPA Paypers Your subscription package includes: Full-year personal subscription to any 2 / all 4 Paypers premium newsletters Newsletters with news, analysis, opinions and interviews News Paypers (daily/weekly headlines) with news and events Newsletters delivered to 1-2 addresses within your company Also available on iphone and Android!

33 INDUSTRY EXPERTS TAKE THE STAND

34 32 E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE 2013 THOUGHT LEADERSHIP Aite Group E-invoicing: Regulatory-Driven, but Beneficial Regardless Invoices are among the documents including purchase orders, trade finance documents, packing lists, shipping notices, bills of lading, inspection certificates, and manifests exchanged between trading partners as part of the source-to-settle process (Figure 1). Companies view converting paper documents and exchange processes to electronic as an effective way to reduce costs, which is nearly always an important financial goal. Electronic invoicing, or e-invoicing, is significantly more than a cost reduction solution. For some global regions, notably Europe and select countries of Latin America, e-invoicing has become a way to ensure desired governmental outcomes, such as timely payments to small business suppliers and tax compliance respectively. Figure 1: Source-to-settle trading partner and banking relationships Ultimately, buyers analyse the information from the electronic data exchange to negotiate better terms with their suppliers, in some cases, even reaching win-win agreements. This e-invoice and payables matched data enables supply chain finance solutions (SCF) like dynamic discounting and receivables financing that ensure liquidity for suppliers while benefiting buyers. Large corporations with excess cash may choose to help their strategic suppliers that are financially fragile by agreeing to pay early, with or without discounts. Alternatively, banks and other third-party lenders may provide financing to the suppliers at more favourable rates knowing that the buyer has approved and scheduled the payment from which they will recover the loan. Despite these opportunities, banks have largely ceded SCF for large corporation and small business trading partner pairs to electronic marketplaces like Ariba (an SAP company), Hubwoo or any of the hundreds of industry or geography-based e-marketplaces. Two major US banks that offered e-invoicing solutions have sold them Bank of America Merrill Lynch sold Paymode to Bottomline Technologies and BNY Mellon sold SourceNet to Cognizant. Regulations encourage e-invoicing adoption in the US as well, although indirectly. The Sarbanes-Oxley Act of 2002, pertaining to corporate responsibility for financial reports encouraged US companies' payables organisations to request e-invoices to streamline payables' authorisation processes, eliminate lost invoices and ensure timely and accurate accounting of outstanding payables. Buyers soon discovered that once the invoices are in electronic formats, the automated matching of enterprise resource planning (ERP) generated purchase orders and payables files to invoices is facilitated. Furthermore, payments can be automatically initiated for matched invoices, allowing staff to focus on the exceptions. Most US-based banks concentrate on purchasing card (p-card) payment solutions to support SCF. When buyers use p-cards for payments to suppliers, the supplier gets his funds within two days, and the issuing bank expects the buyer to pay the bank in 30 days, thus supporting the reduction of days sales outstanding while lengthening days payables outstanding. Through the interchange pricing model, banks get more revenue than from per transaction pricing of ACH, wire transfer or cheque payments. Subsequent to the recession, bank lending has not returned to earlier levels supporting small businesses. E-marketplaces provide the data exchange and analysis that supports alternative financing from the buyers or other lenders. A variation on e-marketplaces is The Receivables Exchange, an online marketplace for real-time trading of commercial receivables allows suppliers to auction outstanding receivables to multiple potential buyers (banks and non-banks) for improved receivables financing terms. Middle-market companies, with revenue of USD 50 million to USD 500 million, are becoming interested in e-invoicing as well. Aite Group polled 61 middle-market company participants in

35 THOUGHT LEADERSHIP E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE Nancy Atkinson, Senior Analyst, Aite Group a receivables webinar on whether or not they implemented e-invoices and what percentage of their buyers receive them. 52% of these companies have implemented e-invoicing, with nearly one-third of their buyers receiving e-invoices (Figure 2). Figure 2: Middle-market companies' e-invoice experience Source: Aite Group Banking solutions that focus on the middle-market and SMEs could be the only chance remaining for banks to stake a claim to SCF solutions. The middle-market and SMEs need outsourced solutions that allow them to access the level of data and analysis between their company and key trading partners, to leverage that data for better liquidity and working capital management. Recent press releases made by a couple of European banks, including the UK's Metro Bank acquiring SME Invoice Finance and Deutsche Bank introducing a SCF app for their Autobahn Apps Market (a collection of cash management and related applications that run on a cloud-based platform) indicate that banks moving downmarket is a direction being undertaken. For banks not interested in direct e-invoice investment, partnering with providers like Bottomline Technologies or Cognizant, and offering Paymode-X or SourceNet as an outsourced solution that converts paper invoices to electronic and offers multiple payment methods will meet the needs of each client. ABOUT AITE GROUP: AITE GROUP IS AN INDEPENDENT RESEARCH AND ADVISORY FIRM FOCUSED ON BUSINESS, TECHNOLOGY AND REGULATORY ISSUES AND THEIR IMPACT ON THE FINANCIAL SERVICES INDUSTRY. IT SEEKS TO BECOME A PARTNER, ADVISOR, AND CATALYST BY EXCHANGING IDEAS AND CHALLENGING BASIC ASSUMPTIONS TO ENSURE THAT ITS CLIENTS STAY AHEAD OF THE COMPETITION. ABOUT THE AUTHOR: NANCY ATKINSON IS A SENIOR ANALYST AT AITE GROUP. HER BROAD FOCUS IS WITHIN WHOLESALE BANKING ISSUES, INCLU DING GLOBAL BUSINESS-INITIATED PAY MENTS (E.G. AUTOMATED CLEARING HOUSE, WIRE TRANSFERS, REAL-TIME GROSS SETTLEMENT (RTGS), COMMERCIAL CARDS, SEPA, UK FASTER PAYMENTS AND CHECKS). SHE SPECIALIZES IN FINANCIAL SUPPLY CHAIN MANAGEMENT, INCLUDING TRADE FINANCE AND SERVICES, AND IN BANKS SUPPORT FOR COMPANIES ACCOUNTS PAYABLES, ACCOUNTS RECEIVABLES AND WORKING CAPITAL MANAGEMENT FUNCTIONS.

36 34 E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE 2013 THOUGHT LEADERSHIP Purchasing Insight 3-Point Plan to Encourage E-Invoicing to Public Sector Governments all over the world are looking closely at how best to capitalize on the e-invoicing opportunity. Some countries like Brazil and Mexico have already employed the force of law to insist on the use of electronic invoices. Other countries have demanded that suppliers to public sector use e-invoices. But some of the largest economies in the world, most notably Germany, the UK and the US seem hesitant. Perhaps they would prefer not to interfere too closely in commerce. Maybe it is the fear of the inevitable bureaucracy of new legislation that puts them off. It could be a lack of political will. But by providing no encouragement or leadership, these governments are potentially depriving their economies of literally billions of dollars in efficiency and liquidity. The challenge is to persuade businesses, especially suppliers, that there is something in it for them. What role can governments play in helping with this message? They could invest in a communication campaign to sell the benefits but without a sense of urgency, without a burning platform, businesses will continue to attend to their other priorities. They could mandate e-invoicing, if not across the board, just for invoices to public sector. Even this seems to be seen as heavy handed by some governments who prefer to avoid a strict mandate and leave businesses free to choose how they send invoices to their customers. But there is another way that could work very well especially in Europe and North America. It involves giving businesses who supply public sector three choices: Choice 1 Send invoices electronically and be paid on time Choice 2 Send paper invoices and be paid late Choice 3 Send electronic invoices and, if you give a rebate, be paid early To those in private sector, these choices probably make some sense already, especially Choice 1 and Choice 2. It is another way of saying to suppliers Send us invoices electronically or we ll hold on to your money for an extra 30 days. It is a big stick approach that provides pain for non-compliance. Public sector people might be a bit nervous about extending payment terms as a penalty for paper but what is more likely to raise an eyebrow in public sector is Choice 3. Choice 3 has some real appeal but it may not be obvious to all why that is. The accounting contrast between private and public sector In the private sector, businesses won t pay suppliers early unless there s a reciprocal gesture like a discount. Why would they? If they pay early, they reduce their DPO (Days Payables Outstanding) which can have a direct and negative impact on their shareholder value. But in public sector, the concept of DPO is alien. Public sector accounting is quite different than the accounting conventions in the private sector. The value of cash flow is not understood in the same way. Indeed, there are those in public sector who would say that suppliers should be paid as soon as possible. It would be a way of supporting the local economy which is after all, the role of government. But this is naive. To pay suppliers early without a reciprocal discount is simply giving tax payers money to private enterprise for free. Small businesses may be in need of our support but they re not charity cases. There s a better way to leverage the efficiencies that e-invoicing delivers that benefits everyone: suppliers to public sector, taxpayers as well as the wider economy.

37 THOUGHT LEADERSHIP E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE Pete Loughlin, Managing Editor, Purchasing Insight Leveraging e-invoicing in public sector to deliver real economic improvement Talking about delivering efficiencies is very different from delivering them. The efficiencies that electronic invoices deliver are based on time saved and the elimination of manual processes. These savings can easily get absorbed into other activities. It can be difficult to realize or measure the efficiencies delivered particularly in public sector where there are often special sensitivities about headcount This kind of win-win is being enjoyed in many private sector supply chains. Large businesses are getting much higher return on their cash while supporting their supply chain partners by offering them cost effective working capital. All of this is done by simple exchanging discounts or rebates for early payment. Replicate those benefits in a public sector supply chain and you not only deliver efficiency, you not only deliver measurable savings you could provide a powerful stimulus to a stalled economy. reduction. This is where Choice 3 comes in. Increasingly, businesses that have successfully deployed e-invoicing are realizing where the real prize is. there are efficiency savings. there is costs savings but the real benefit is not that you can get rid of a paper process it s that you put yourself in a position to pay much earlier and that position to pay early can be of enormous benefit to both the businesses and their suppliers. Post credit crunch, headline interest rates may be zero but for small and medium sized businesses the cost of maintaining an overdraft is far from zero. Funding late payment by customers can cripple a business and this is why many will offer a discount for early payment. A 0.5% discount for payment 20 days early is a much cheaper way of funding working capital requirements than going to the bank. That sort of discount costs the supplier approximately 9% in APR terms a fraction of the cost of factoring invoices for example. This is where the opportunity lies for public sector. By using electronic invoices to process invoices more quickly, they can put themselves in a position to pay earlier. If they then offer early payment to suppliers, they can deliver a level of liquidity that the banks have failed to do. They can offer small and medium sized business in their communities low cost working capital finance in the form of early payment and best of all, by taking a rebate or a discount in exchange they can make direct, tangible, measurable savings. ABOUT PURCHASING INSIGHT: PURCHASING INSIGHT IS ONE OF THE MOST AUTHORITATIVE ON-LINE BUSINESS RESOURCES COVERING THE ENTIRE PURCHASE TO PAY SPECTRUM INCLUDING PROCUREMENT AND PURCHASING TECHNOLOGIES, E-INVOICING, AP AUTOMATION AND SUPPLY CHAIN FINANCE. ABOUT THE AUTHOR: PETE LOUGHLIN HAS BEEN CONSULTING IN THE PURCHASE TO PAY AREA FOR 20 YEARS AND HAS WORKED WITHIN SOME OF THE LARGEST ORGANIZATIONS IN THE WORLD INCLUDING KPMG, DELOITTE, HEWLETT PACKARD, CISCO AND BNP PARIBAS. HE HAS BEEN MANAGING EDITOR OF PURCHASING INSIGHT SINCE 2009 AND IS A RECOGNIZED EXPERT IN P2P, E-INVOICING AND SUPPLY CHAIN FINANCE.

38 36 E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING THOUGHT MARKET LEADERSHIP GUIDE 2013 THOUGHT LEADERSHIP The Paypers E-invoicing for Everybody A closer look at the new European e-invoicing scheme SimplerInvoicing The benefits associated with large-scale adoption of electronic invoicing (e-invoicing) are many and widely acknowledged Europewide. The European Commission (EC) has identified e-invoicing as a significant source of economic and environmental benefits and as such, a practice essential for the establishment of a paperless public administration (e-government), one of the priorities for the 2020 Digital Agenda. E-invoicing as a business practice is by no To do this, e-invoicing market players must strive to collaborate on a much deeper scale than they currently do and achieve a level of collaboration that goes beyond bilateral cooperation. An ambitious new initiative originating in the Netherlands takes on this challenge. Launched in early 2013, e-invoicing scheme SimplerInvoicing is looking to create a shared ecosystem where small/medium/large businesses, governments and even consumers can exchange invoices via a single, shared network, wherein any sender can reach any receiver, through his own service provider or ERP/accounting software. means a novelty on the contrary, it has been at the core of a decade-long movement to end businesses continued reliance on paper-based financial processes and replace paper invoices with automated invoice exchanges. Conceived as a network of cooperating services providers, Simpler Invoicing brings together a group of 14 e-invoicing and accounting software providers. It departs from the premises that the best way to overcome fragmentation and bring together all Despite significant progress, e-invoicing continues to struggle to overcome issues such as market fragmentation, excessive complexity and interoperability challenges. In a press release from the end of June 2013 announcing the roll-out of a draft directive on e-invoicing in public procurement, the EC indicates that inter operability between different, mainly national, e-invoicing systems across Europe is a major pain point; the Commission highlights the fact that lack of interoperability is a source of additional operating costs for economic operators who currently have to use different electronic invoices across the EU member states. The upshot of this state of affairs is that the uptake of e-invoicing in Europe remains low, accounting for only 4-15% of all invoices exchanged, according to EC estimates. Introducing European e-invoicing scheme Simpler Invoicing In Europe, an ecosystem comprising a growing number of services providers has developed, offering a variety of approaches to e-invoicing, mostly for large businesses. Traditionally, e-invoicing has largely been the prerogative of large enterprises, for which the use of e-invoicing boosts operational efficiencies in an immediate actors in the e-invoicing ecosystem is to take a 'silo-agnostic' approach and come up with a solution that is not bound to a particular context or pre-defined business model. The main goal of SimplerInvoicing is to enhance the invoicing process of both senders and receivers of e-invoices, making it possible to achieve large-scale adoption and turn e-invoicing into a generic business practice for consumers, small/medium/large businesses and gover nments. SimplerInvoicing uses PEPPOL for interoperability between the participants. How SimplerInvoicing works The approach of SimplerInvoicing is to bring together two different worlds: on the one hand, the world of e-invoicing service providers, where compliant outsourcing of the invoicing process is the core activity; on the other hand, the fast-evolving world of PDF, where both the sender and receiver take responsibility for their own compliancy towards the tax authority through internal business controls. By bringing these two worlds into a single network, SimplerInvoicing creates a paradigm wherein any sender can reach any receiver, through his own service provider or ERP/ accounting software. and visible manner. One of the major sources of fragmentation within the European e-invoicing ecosystem is this divide between large and small companies a crucial issue which must be solved if e-invoicing is ever to truly achieve mass-market adoption.

39 THOUGHT LEADERSHIP E-INVOICING, THOUGHT SUPPLY LEADERSHIP CHAIN FINANCE & E-BILLING MARKET GUIDE Adriana Screpnic, Editor-in-Chief, The Paypers SimplerInvoicing makes use of the value propositions of accounting software and e-invoicing services, communicating through a protocol defined by SimplerInvoicing. The SimplerInvoicing scheme thus enables companies to have an established presence in the invoicing process of (micro) SMEs, corporates and governments, including major accounting solutions and e-invoicing providers, to send invoices to each other s customers. This allows SMEs to use their own solution to send e-invoices to any other party that offers the SimplerInvoicing brand, including governments, even if the receiver does not use ERP / accounting software or an e-invoicing service. Parties can join the scheme by meeting the criteria and signing the contract, without the need to negotiate and establish bilateral agreements. The benefits of the SimplerInvoicing scheme are many-fold. On the one hand, they allow end-users (both senders and receivers) to exchange e-invoices in multiple formats, with no printing needed at sending and no retyping needed at receipt. As such, invoices can be sent directly in a company s ERP system or accounting software. This can be achieved via pre-existing solutions that are already in place. As far as services providers as such are concerned (e-invoicing / ERP/ accounting services providers), an initiative such as SimplerInvoicing allows them to grow the market potential of e-invoicing adoption in all user segments, which in turn can be expected to lead to expanded market potential for e-invoicing services providers, ERP and accounting services providers. The creation of SimplerInvoicing is sponsored by the Dutch Ministry of Economic Affairs. The initiative was launched on 1 January After conducting a pilot during the first 6 months of 2013, SimplerInvoicing is expected to go live in October "All customers on the Anachron platform will benefit from the SimplerInvoicing initiative. Because of the ability to re-use existing infrastructure and agreements, no interaction about data formats and data exchange is necessary. The reduction of implementation time and the seamless delivery service to our customers makes us an enthusiastic supporter of the initiative, and we will actively participate in enhancing the network." Marco Eeman, CTO of Anachron & Project Board Member of SimplerInvoicing ABOUT THE PAYPERS: THE PAYPERS IS THE LEADING INDEPENDENT SOURCE OF NEWS AND ANALYSIS FOR PROFESSIONALS IN THE GLOBAL PAYMENT COMMUNITY. OUR PRODUCTS ARE CREATED BY PAYMENT EXPERTS AND HAVE A SPECIAL FOCUS ON ALL MAJOR DEVELOP- MENTS IN PAYMENTS - RELATED INDUSTRIES INCLU DING CARDS, ONLINE PAYMENT, ONLINE BANKING, E-COMMERCE, MOBILE PAYMENTS AND E-INVOICING. THE PAYPERS IS ALSO KEEN ON KEEPING ITS READERSHIP INFORMED WITH REGARD TO ONLINE FRAUD PREVENTION INNOVATIONS AND THE MOST SIGNIFICANT TRENDS IN THE E-IDENTITY SPACE, FROM A TECHNOLOGICAL PERSPECTIVE. ABOUT THE AUTHOR: ADRIANA SCREPNIC HAS BEEN INDULGING IN HER PASSION FOR INNOVATION IN DIGITAL TRANSACTIONS BY EDITING AND ENRICHING THE PAYPERS CONTENT FOR OVER 5 YEARS. EXPERIENCED EDITOR, RESEARCHER, REPORTER AND WRITER, SHE HAS BEEN MANAGING THE PAYPERS TEAM AS EDITOR-IN-CHIEF SINCE

40 38 E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE 2013 THOUGHT LEADERSHIP sharedserviceslink.com E-Invoicing in 7 Steps - from Preparation to Roll-Out E-Invoicing is not a mystery. Simply put, if you follow a set of behaviors, successful implementation is in reach. This article lays out the behaviours which will put you in good stead for a successful e-invoicing roll-out. Step One: Know your as-is process: I knew all too well in my days of selling e-invoicing, that if a prospect didn t know their as-is process, they were a good 12 to 24 months from implementing e-invoicing. So don't skip Step One. If you don t know your process, you probably don t know key metrics like your First Time Match Rate. This means you won t know the degree to which e-invoicing might help you. And, if you don't know the true cost of your invoicing process, you won't be able to make a water-tight business case. By mapping out your as is process you will come to understand: 1. Why invoices fail 2. How e-invoicing can fix problems in your process flow 3. How many invoices would be in scope should you proceed with e-invoicing 4. What your as-is cost is, and how much it could go down 5. How many days it s currently taking to process an invoice, and how e-invoicing would reduce this 6. How, by reducing the number of days, capture-rate of negotiated discounts might rise Step One is likely to take you 3 to 6 months, but by the end of it you ll be clearer and more realistic when you make your business case. Importantly, knowing your cost-per-transaction is essential for negotiating effectively with your potential provider. Step Two: Know the vision of the company: Take the time to understand where the company wants to be in 6, 12 or 24 months time. You can extrapolate that intention back to how e-invoicing would bolster the realization of that goal. Ask lots of questions, and listen to the answers. Then you can: 1. Communicate the wider purpose of e-invoicing and position it as a key enabler for realizing goals 2. Use the language of the senior management to present e-invoicing back to them 3. Move e-invoicing up the priority list This endeavor requires an investment of time outside your day job, but it will pay off, when your CFO, CPO and CTO (Chief Treasury Officer) see e-invoicing as their single point of failure. Step Three: Get procurement on board early This is easier for an organization where Finance and Procurement are already one team. But in organizations where they are separate, usually Finance owns the project because they get more immediate gains. Then they involve Procurement later, almost as an afterthought. This can kill the project. E-Invoicing is a supplier-focused program, and even though AP pays suppliers, they are actually owned by Procurement. So suppliers will listen to Procurement first, and finance second. If procurement are not brought in, or are at all dismissive of e-invoicing, your suppliers will feel this mood, and drag their heels in signing up. This key step is easily overlooked as a small detail. It s not. It will make - or break - your project. When working with Procurement, consider the following: Drivers why do e-invoicing? Scope all suppliers, invoice types, AP transaction types, countries? Solution scope just e-invoicing or an end-to-end solution? Message mandatory or optional? Quality of the database will the comms land on the right desk? Signatory how senior will the signatories be? The CPO and the CFO? (Ideally, yes!) Targets are Finance and Procurement KPI d on the same targets? The non-compliant who will respond to suppliers that resist? Who will own the project? Perhaps Finance and Procurement together? Step Four: Give the project a name You will likely find that the nameless projects rarely move 'go live' status. This is not a coincidence. By giving the project both a pre- and post- contract name, you:

41 THOUGHT LEADERSHIP E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE Susie West, Founder & CEO, sharedserviceslink 1. Give it an identity which helps people get it 2. Create interest and curiosity ( what is this Globe project everyone s talking about? ) 3. Avoid confusion in conversations 4. Inspire greater emotional attachment, especially if you stay away from obvious names like Globe, Probe, etc. all decent names, but how about something more fun, like names of characters from movies? Have a competition for the most creative name! Step Five: Know what you re shopping for Is it a best-of-breed e-invoicing solution? E-Invoicing with dynamic discounting? E-Invoicing with workflow and routing, or an e-procurement functionality for your upstream procurement process? Does it need to be VAT-compliant and language-sensitive because you are rolling out across multiple countries? Do you need to use their onboarding capabilities? (Always advisable!) Capturing these requirements in a document is key. Include: Commercial and business requirements Process requirements Scope requirements (which impact legal treatment and languages supported) IT requirements (these are probably weighted lightly, as all e-solutions are system-agnostic) Resource and timing requirements Then make sure that the companies you invite to respond to the RFP all offer similar services, so you're not comparing one solution type against another completely different solution type. Step Six: Determine the cost of delayed-implementation Quantifying the cost of doing nothing, and having this as a daily, weekly, monthly and annual figure, will help drive a deadline. Build this figure with the main stakeholders, so they all agree on it, and understand that allowing the project to languish is actually costing the company X. The daily figure will help drive the pace of the project. Step Seven: Follow the best practices of the provider The provider you choose will have likely rolled out e-invoicing programs (if it's one of the biggies like OB10, Ariba or Tradeshift). You will be benefitting from their experience. Some providers swear by their best-practices and attach a guarantee to their invoice conversion. Best practices will include advice like clean your supplier data, or let us clean it, have procurement sign off on comms, be available to respond when some suppliers say they won t comply with the request. Much of the success of e-invoicing comes down to nuances, which the providers have figured out, and which companies on their first foray into e-voicing, have no idea exist. ABOUT SHAREDSERVICESLINK: SHAREDSERVICESLINK IS THE BUSINESS COMMU NITY FOR THE SHARED SERVICES AND OUTSOURCING SPACE. WITH OVER 15,000 COMPANIES IN THIS SPACE, SHARED- SERVICESLINK.COM SERVES THROUGH EXTEN- DING: BEST PRACTICE; HOW TO GUIDES; AND BENCHMARKING. BUSINESSES CONNECT WITH THE COMMUNITY AND EACH OTHER AT SHAREDSERVICESLINK S BOUTIQUE CONFE- RENCES, WEBINARS, AND SOON THEY WILL BE ABLE TO CONNECT WITH EACH OTHER ONLINE. FOR MORE INFORMATION VISIT OUR WEBSITE OR CALL ABOUT THE AUTHOR: SUSIE WEST IS FOUNDER AND CEO OF SHAREDSERVICESLINK. FROM SELLING E-INVOICING, TO WORKING IN A SHARED SERVICES CENTRE ITSELF, SHE QUICK- LY DEVELOPED AN UNDERSTANDING FOR KEY ASPIRATIONS IN SHARED SERVICES AND TYPICAL PROBLEMS, OFTEN HINDERING THESE ASPIRATIONS. SHE CHAIRS ALL SHARED- SERVICESLINK CONFERENCES, SPEAKS WIDELY ON SHARED SERVICES, AND IS CONSIDERED A THOUGHT PROVOKER, CHALLENGING THE MARKET TO ADVANCE.

42 40 E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE 2013 THOUGHT LEADERSHIP Accounts Payable Network E-Invoicing Sheds Light on Supply Chain Corporate Social Responsibility (CSR) and e-invoicing are not necessarily the most obvious of bedfellows neither (I suspect) would the pursuit of more enlightened CSR charter be high on the list of reasons to develop an adoption plan. Nevertheless, the two are linked in ways that some organisations are likely to be unaware of. Supply chain responsibility As global partnerships expand, organisations expose themselves to greater risk from disruption and in some cases corruption along their supply chains. That s not to say that those risks are new, they are simply more complex and in 4th and 5th line suppliers, the transactions can become opaque and yet still have significant impact on the end buyer. In some cases, the push for a wider profit margin has led to unscrupulous behaviour - an extreme example being the Rana Plaza clothing factory disaster which supplied products to H&M, Primark and other retailers. The terrible loss of life led to many of the retail giants joining forces to sign a legally binding contract to make safety improvements along the Bangladesh supply chain. Innovative technology And yet with the global economy struggling to show signs of growth, and with many companies continuing to struggle to remain competitive - is there anything which can overcome the effects of the squeeze on the supply chain? Well, that s where e-invoicing and technology can come in. Of course, if someone is intent on corrupt and criminal behaviour, technology can t prevent that but it can help negate the need for that transaction in the first place, and can help to highlight otherwise hidden activity. Many forwardthinking companies are increasingly looking at innovative ways to increase efficiencies to the benefit of everyone by making use of new technology and reaching for the depth of data within their supplier network. Late payments Late payments, particularly amongst SMEs are the biggest cause of a lack of corporate liquidity up and down the supply chain resulting in an increase in debt and in some cases an unpaid workforce and unpaid suppliers. In the last year, some organisations have reported having to deal with DSO rates of 200 days creating an unsustainable working environment with a wide ranging social impact. Dynamic discounting So what s the answer? Well, a more traditional approach to a break down in liquidity would be to look to the banks and invoice financing (or factoring), and yet quite often the terms can be punitive, and in many cases unavailable to SMEs. In the UK, invoice financing has become a major industry but with the acknowledged downsides, it s not something which provides the answer for everybody. However, a relatively new concept - dynamic discounting - does go some way to providing one. It s a solution which offers organisations the opportunity to capture discounts from their suppliers on a sliding scale, meaning that even when payment terms slip past the traditional timeframe, discounts (albeit at a lesser rate) can still be taken, enabling organisations to regain integrity with suppliers and better visibility and control of their working capital. Nevertheless, it s not a practice which is welcomed by everybody. The Forum of Private Business has accused some companies of engaging in bullying tactics to force their suppliers to accept a hit on their invoice values. And yet, for the most part dynamic discounting has the capacity to be a far better solution for generating cash flow down the supply chain than factoring. On top of that, if by engaging in and accepting dynamic discounting organisations stay afloat, and come the end of the month, people get paid then it s not something many companies have to think about for long.. Supplier adoption However, where these types of solutions have fallen down in the past has been in supplier adoption, particularly amongst smaller SMEs. And yet, with the advance in cloud solutions, it s becoming less of an issue as suppliers are no longer obliged to buy in to expensive solutions to take advantage. Many are invited to opt in via automatic online enrolment campaigns for example. On top of that, with the additional reporting capabilities, organisations are able to stay in full control, putting the power back in the hands of the finance teams.

43 THOUGHT LEADERSHIP E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE Ellen Leith, Editor, Accounts Payable News Clear away the smokescreen And why is that important? Because e-invoicing coupled with a dynamic discounting solution can drive several layers of business benefits which can be driven from those teams faster processing time, auto-match rates which are simply impossible with manual processing, a reduction in fraud and error, together with key reports and metrics which can highlight the health or otherwise of the organisation. Finally, e-invoicing can help organisations manage their cash flows and deliver benefits down their supply chain, meaning that at least in theory suppliers can get paid on time (or early) with any negotiated early settlement, or dynamic discounts. With a more transparent, compliant system, organisations should be able to both maximise profits and time efficiencies and also ensure that everyone benefits down the supply chain, helping to ease the pressure and lift the lid on potentially murky transactions of 4th and 5th line suppliers Saying an operation is opaque is really just another word for smokescreen and there should be no room for one in today s finance teams. ABOUT ACCOUNTS PAYABLE NEWS: ACCOUNTS PAYABLE NEWS (APN) WAS SET UP IN 2008, SINCE WHICH TIME IT HAS BEEN SUCCESSFUL IN PROVIDING LEADING FINANCE PROFESSIONALS WITH A SHARP INSIGHT INTO THE LATEST NEWS AND UP-TO-DATE INFORMATION ON KEY PROCESSES AND TECHNOLOGIES. TODAY APN ATTRACTS OVER 14,000 READERS TO DOWN- LOAD WHITE PAPERS, DISCOVER HOW AND WHY OTHER ORGANISATIONS MAY DO THINGS DIFFERENTLY, ATTEND INSIGHTFUL WEBINARS, ADD THEIR VOICE TO SURVEYS AND TO SUCCESS FULLY BENCHMARK THEMSELVES AGAINST OTHERS. ABOUT THE AUTHOR: AS THE EDITOR OF ACCOUNTS PAYABLE NEWS, ELLEN IS A WELL- KNOWN VOICE IN THE INDUSTRY. ACCOUNTS PAYABLE NEWS IS AN ONLINE NEWS SITE FOR ACCOUNTS PAYABLE AND P2P PROFESSIONALS IN THE UK. WITH A STRONG LINKEDIN AND TWITTER PRESENCE, ACCOUNTS PAYABLE NEWS PROVIDES A LIVELY DISCUSSION BASE FOR LIKE-MINDED INDIVIDUALS LOOKING TO PROMOTE THE PROFESSION AND GAIN ADVICE ON SUBJECTS AS DIVERSE AS E-INVOICING, SUPPLY CHAIN, NEW SOLUTIONS, PAYMENTS AND SHARED SERVICES.

44 42 E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE 2013 THOUGHT LEADERSHIP COMPANY PROFILES

45 COMPANY PROFILES E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE Company Accept Accept provides a comprehensive B2C e-billing & payment service (SaaS) based on and mobile media. Accept is suitable for initial invoices, bounced direct debits, issuing SEPA Direct Debit mandates and collection of outstanding payments and is used by large companies and SMEs in utilities, telecom, insurance, retail, publishing, travel and government. Website Service provider type Head office location In which market do you provide your services? E-billing & Payment Service Provider The Netherlands Global Contact details Mr P.J. Kwakernaak, CEO, pkwakernaak@accept .com, Active since 2006 Keywords e-billing, e-invoicing, e-bill, e-invoice, e-mandate, SEPA, SDD, SCT Markets Which side in the supply chain is your primary target group? B2B, B2C and/or B2G (Government)? Target customer Are you specialized in a certain industry? Suppliers B2C, G2C, B2sB Corporates - Enterprises & SME It is a cross industry service with customers in sectors such as: insurance, telecom, utilities, ticketing, charity, education, internet, publishers, Government, retail Proposition Which processes in the supply chain do you facilitate? Support interoperability with other service providers? Which pricing model do you mainly use? Solution description Invoicing and collection phase of the invoice-to-cash process, generation, collection and storage of electronic mandates for SDD., we have interoperability with BSPs, PSPs and financial institutions. Subscription, transaction-based. In a 3-click process bills can be paid without manual data (re)entry, resulting in a faster and errorfree payment process for both billers and customers. Real-time generated images convey dynamic information about the current status of a payment in the original . Accept also supports telesales, bounced direct debits, credit management (reminders) and issuing of SEPA Direct Debit mandates. Services Purchase Order Flip Matching of related transactions Distribution of e-invoices Invoice presentment portal Legal compliance tools TAX/VAT compliancy e-signature service Finance & (reversed) factoring services (Dynamic) discounting e-archiving Scanning of paper invoices Total invoice management, 100% paper to electronic Printing Workflow functionality No, bill presentment portal is available via partners., our partnership with TrustWeaver ensures legal and fiscal compliance of electronic invoices in more than 40 countries., via TrustWeaver in over 40 countries., also via TrustWeaver. No, the platform offers features for dynamic discounting, open account trading and donations., depending on billers requirements this service is available., this feature is integrated in the Accept platform by fulfillment partners., this feature is disclosed in the Accept platform by fulfillment partners., this feature is integrated in the Accept platform by various partners., this feature is integrated in the Accept platform.

46 44 E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE 2013 COMPANY PROFILES Direct integration with payments Accounts Payable management Accounts Receivable management Integration with ERP/ accounting software Which standards do you support? Conversion from or into various XML formats (mapping) Content validation of incoming invoice data Facilitate customer onboarding Other services, the platform integrates directly or via a partner PSP to any online payment method: debit card, credit card, online or mobile banking. No, all aspects of accounts receivable management can be facilitated., we provide a number of standard links, a Java and.net library for integration with ERP / Accounting software. Accept is suitable for billers in a B2C, B2sB or G2C environment., we can convert any to any format including XML to XML. No, customer onboarding is extremely simple as Accept is a non-intrusive push mechanism. Management reporting, trend analysis. A DETAILED, MULTI LAYERED INSIGHT INTO THE GLOBAL E-INVOICING, SUPPLY CHAIN FINANCE AND E-BILLING MARKET

47 COMPANY PROFILES E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE Company Anachron Anachron is a leading e-invoicing service provider in Europe and develops cutting edge solutions for B2B and B2C digital document presentment. Our SaaS-based solutions facilitate companies in presenting documents online within their own website or through our generic platform: the InvoicePortal. All solutions include state-of-the-art functionalities that facilitate in optimizing business processes, reducing costs, enhancing customer service and receiving faster payments. Website Service provider type Head office location In which market do you provide your services? Contact details E-documents service provider Amsterdam, the Netherlands Global Ms. Linda van Kampen, International Sales Manager, [email protected], Active since 2000 Keywords e-invoicing, e-documents, EIPP, payments, VAT compliant, e-billing, online document presentment Markets Which side in the supply chain is your primary target group? B2B, B2C and/or B2G (Government)? Target customer Are you specialized in a certain industry? Focused on supplier and buyer. B2B, B2C and B2G National and international mid- and large corporates, financial institutions. The solution is focused on invoice processing and is applicable to any industry. Proposition Which processes in the supply chain do you facilitate? Support interoperability with other service providers? Which pricing model do you mainly use? Solution description Invoicing, e-documents, e-billing, EIPP, accounts receivable, document management, print & mail, payments., we have interoperability agreements with several large e-invoicing networks and we are a member of the European E-invoicing Service Providers Association (EESPA). The Software-as-a-Service (SaaS) model has transaction-based pricing. Anachron provides a web-based solution with both customized (Direct Biller) and Consolidated AR e-invoicing solutions, integrated with payments for mid- and large corporates. Our solutions deliver value by lowering costs, reducing Days Sales Outstanding (DSO) and optimizing critical business processes. The solution is scalable for high volumes and consists of breakthrough functionalities for its users. Services Purchase Order Flip Matching of related transactions Distribution of e-invoices Invoice presentment portal Legal compliance tools TAX/VAT compliancy e-signature service Finance & (reversed) factoring services (Dynamic) discounting e-archiving Scanning of paper invoices Our solutions integrate with 20+ ERP systems for easy document exchange. Next to Invoiceportal.com for mid corporates we provide company branded, secure and userfriendly web portals for the presentment of documents. We work closely together with partners such as PwC and Ernst & Young to ensure international VAT compliancy. Global coverage Every document is signed with the VAT required e-signature (QES or AES) to guarantee the integrity and autenticity, this can be completed with a timestamp. Offered through partner network of financial institutions. Every document is securely archived online for the full legal storage period per country. We offer a full accounts payable scanning solution with our global partner Canon.

48 46 E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE 2013 COMPANY PROFILES Total invoice management, 100% paper to electronic Printing Workflow functionality Direct integration with payments Accounts Payable management Accounts Receivable management Integration with ERP/ accounting software Which standards do you support? Conversion from or into various XML formats (mapping) Content validation of incoming invoice data Facilitate customer onboarding Other services We offer a fully hybrid international print & mail solution for a smooth transition from paper to digital invoicing. We offer a full workflow solution with our global partner Canon. We offer pay s and online payment modules for our web portals with global coverage through connections with major PSP s. We offer a full accounts payable solution with our global partner Canon. Our outbound e-invoicing solutions automate your complete invoicing process, including print and mail, payments and e-dunning. We have 20+ established connections with leading ERP systems and invoicing software such as SAP, Oracle, MS Dynamics, Exact and Unit4. UN/CEFACT CII, ISO20022 Financial Invoice, UBL 2.0, e-fff and any if required. Any structured data can be converted to XML format. All data is validated and reported. As part of our service we provide full support and advice on customer activation. Reporting, query management, customer grouping, authorization tools, consolidated billing, single sign-on integration.

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51 COMPANY PROFILES E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE Company Ariba Ariba is the world s business commerce network. Ariba combines industry-leading cloud-based applications with the world's largest web-based trading community to help companies discover and collaborate with a global network of partners. Using the Ariba Network, businesses of all sizes can connect to their trading partners anywhere, at any time from any application or device to buy, sell and manage their cash more efficiently and effectively than ever before. Companies around the world use the Ariba Network to simplify inter-enterprise commerce and enhance the results that they deliver. Join them at: Website Service provider type Head office location In which market do you provide your services? E-invoicing service provider, bank, software vendor, reseller or specialist US Global Contact details Cecilia Krummenacker, [email protected], Active since 1996 Keywords e-invoicing, cash management, discount management, invoice, accounts payable, AP, cloud, business network Markets Which side in the supply chain is your primary target group? B2B, B2C and/or B2G (Government)? Target customer Are you specialized in a certain industry? Buyers, suppliers B2B Micro SME s, SME's, corporates Generic (no specific industry) Proposition Which processes in the supply chain do you facilitate? Support interoperability with other service providers? Which pricing model do you mainly use? Solution description Sourcing, contracting, ordering, invoicing, payments, supply chain finance, cash management, spend analysis Subscription + transaction-based Buying smarter, selling faster and managing cash better in today s Networked Economy takes responsive and supportive working relationships with your suppliers, customers, and financial partners. Ariba s collaborative business commerce solutions make those relationships efficient, effective, and profitable. Services Purchase Order Flip Matching of related transactions Distribution of e-invoices Invoice presentment portal Legal compliance tools TAX/VAT compliancy e-signature service Finance & (reversed) factoring services (Dynamic) discounting e-archiving Scanning of paper invoices Match invoices with PO s, receipts or payments. Inbound and outbound., multilingual. Tax compliance in 39 countries.

52 50 E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE 2013 COMPANY PROFILES Total invoice management, 100% paper to electronic Printing Workflow functionality Direct integration with payments Accounts Payable management Accounts Receivable management Integration with ERP/ accounting software Which standards do you support? Conversion from or into various XML formats (mapping) Content validation of incoming invoice data Facilitate customer onboarding Other services, full versatility. UN/CEFACT CII, ISO20022 Financial Invoice, UBL 2.0, other (specify). Over 100 customer configurable business rules to check incoming invoices against PO, contracts, tax, country and generic rules., dedicated teams all around the world for suppliers and customers enrolment. Unlimited global supplier enablement. INSIGHTS IN THE WORLD WIDE E-INVOICING, SUPPLY CHAIN FINANCE AND E-BILLING ECOSYSTEM

53 COMPANY PROFILES E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE Company Basware Oyj Basware provides open, secure, cloud-based purchase-to-pay and e-invoicing solutions to organizations of all sizes, resulting in greater efficiencies in procurement, accounts payable and accounts receivable. Today Basware Commerce Network connects millions of business users in 900,000 companies across over 100 countries. Website Service provider type Head office location In which market do you provide your services? Contact details E-invoicing service provider Finland Global Active since 1985 Markets Which side in the supply chain is your primary target group? B2B, B2C and/or B2G (Government)? Buyers, suppliers B2B, B2C, B2G Proposition Which processes in the supply chain do you facilitate? Support interoperability with other service providers? Which pricing model do you mainly use? Catalogs, procurement messages, electronic invoices, supplier on-boarding, supplier portal, scan & capture, invoice automation solutions, procurement, P2P, contract life cycle management License, SAAS, transaction-based Services Purchase Order Flip Matching of related transactions Distribution of e-invoices Invoice presentment portal Legal compliance tools TAX/VAT compliancy e-signature service Finance & (reversed) factoring services (Dynamic) discounting e-archiving Scanning of paper invoices Total invoice management, 100% paper to electronic Printing Workflow functionality Direct integration with payments Accounts Payable management Accounts Receivable management Integration with ERP/ accounting software Which standards do you support? Conversion from or into various XML formats (mapping) Content validation of incoming invoice data Facilitate customer onboarding No Over 60 commonly used e-invoice formats

54 52 E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE 2013 COMPANY PROFILES Company Causeway Technologies Limited Causeway is an international software provider. Solutions include the Tradex etrading service as well as a wide range of applications supporting the complete life cycle of the built environment. Tradex is an electronic document exchange service, which transfers trading documents, such as invoices and orders between supply chain partners. Website Service provider type Head office location In which market do you provide your services? E-invoicing, service provider, bank, software vendor, reseller or specialist UK UK, Europe, Middle East (GCC), India Contact details Mr Tim Cole, EVP - Strategy - [email protected] tel: Active since 1999 Keywords supply-chain, ERP, online, SaaS, e-invoicing, paperless, e-trading, EDI Markets Which side in the supply chain is your primary target group? B2B, B2C and/or B2G (Government)? Target customer Are you specialized in a certain industry? Buyers & suppliers B2B Consumers, micro SME s, SME s, corporates Construction, engineering, facilities management Proposition Which processes in the supply chain do you facilitate? Support interoperability with other service providers? Which pricing model do you mainly use? Solution description Ordering, acknowledgements, delivery, invoices, credits, remittance advice, statements and any other B2B transaction documentation. Initial Licence & Annual Licence Fee - plus FREE options for very low volume users. Tradex is a highly functional shared e-business platform for buyers and suppliers. Tradex supports open connections with other services and all document types. Companies can use a free online portal or full integration with their back office application. Flexible business process controls automate the validation and matching processes and provide configurable reports and workflow options. Services Purchase Order Flip Matching of related transactions Distribution of e-invoices Invoice presentment portal Legal compliance tools TAX/VAT compliancy e-signature service Finance & (reversed) factoring services (Dynamic) discounting e-archiving Scanning of paper invoices Total invoice management, 100% paper to electronic Printing Workflow functionality, full or part invoicing using PO data enhances user value., configurable rules can be used to cross match between., Tradex supports e-invoice distribution in data and PDF., Tradex provides a functionally rich portal that can be used by buyers and suppliers to manage transaction processing., Tradex business rules can be used to ensure specific complicance criteria are met., Tradex supports multiple VAT and Tax options for national and cross border e-invoicing., this can be supported if required., a supplier finance solution is available and integrated with the e-invoice exchange., this is a planned part of integration with the finance system., an archive output is a standard option and can be provided in XML or PDF formats as default., provided through a third party partner., using either portal or scanning options. No, although we are able to route documents to a printing. No, although we are able to route documents to a printing bureau.

55 COMPANY PROFILES E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE Direct integration with payments Accounts Payable management Accounts Receivable management Integration with ERP/ accounting software Which standards do you support? Conversion from or into various XML formats (mapping) Content validation of incoming invoice data Facilitate customer onboarding Other services, invoice details and status can be monitored online with escalation options if required., invoice details and status can be monitored online with escalation options if required., full flexibility to integrate with back office applications. UN/CEFACT CII, ISO20022 Financial Invoice, UBL 2.0, other (specify). Common formats including XML, EDIFACT, Tradacoms, Flat File and CSV., business rules can validate content for compliance, logic and user required content., Tradex provides managed on-boarding for supplier and customer roll outs. Systems Consultancy, Training & Project Management. NUMBER ONE MARKET GUIDE FOR BILLERS

56 Several thousand companies have switched to Comarch EDI managed services to enhance trading with partners worldwide. Comarch EDI e-invoicing features: Compliance with international standards and legislation Multilingual and multicurrency Full AR & AP invoicing support Various distribution channels (e.g. , portal, integration) Worldwide partner onboarding Electronic archiving Integration of ERP- and ECM-class systems Comarch EDI e-invoicing features: Compliance with international standards and legislation Multilingual and multicurrency Full AR & AP invoicing support Various distribution channels (e.g. , portal, integration) Worldwide partner onboarding Electronic archiving Integration of ERP- and ECM-class systems For more information about our services visit or write to:

57 COMPANY PROFILES E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE Company Comarch Comarch, global manufacturer and integrator of IT solutions, has: - Almost 20 years of industry experience successfully completed projects on five continents in over 40 countries - References from across the world first-class professionals - Own R&D department made up of high-end IT engineers - High ranking IT analyst ratings: DiS, Gartner, IDC, Truffle Custom Data Centers various locations for the provision of services in many models, including SaaS and managed services Website Service provider type Head office location In which market do you provide your services? / E-invoicing service provider Cracow, Poland Europe Contact details Mr. Bartlomiej Wojtowicz, [email protected], Active since 1993 Keywords e-invoicing, invoicing, supply chain, Comarch EDI, purchase-to-pay, electronic data interchange, partners onboarding Markets Which side in the supply chain is your primary target group? B2B, B2C and/or B2G (Government)? Target customer Are you specialized in a certain industry? Both buyers and suppliers B2B Micro SME s, SME s, corporates Broad scope of industries including consumer goods, wholesale, retail, automotive, pharmaceutical, logistics, financial services, electrotechnical, oil and gas manufacturing among others. Proposition Which processes in the supply chain do you facilitate? Support interoperability with other service providers? Which pricing model do you mainly use? Solution description Ordering, supply chain (with logistic label), invoicing, payments. Comarch EDI has interoperated with other business networks Transaction-based Comarch EDI provides the companies with smart solution enabling exchange of validated and tax compliant invoices in the format adjusted to back office systems. We provide electronic archive and electronic signature as well as service desk in 12 languages (incl. English, German, French, Turkish, Russian) to guarantee onboarding of each partner. Services Purchase Order Flip Matching of related transactions Distribution of e-invoices Invoice presentment portal Legal compliance tools TAX/VAT compliancy e-signature service Finance & (reversed) factoring services (Dynamic) discounting e-archiving Scanning of paper invoices, Comarch EDI enables one-click invoice creation from reference documents., Comarch EDI matches all related transactions in the supply chain., Comarch EDI supports delivery of e-invoices via various distribution channels., Comarch EDI offers user-friendly portal to create invoices and preview their current status., Comarch EDI provides legally compliant e-invoicing passing various certification processes., Comarch EDI provides electronic signature in complinace with local regulations., Comarch EDI offers supply chain financing through financial institutions. No, Comarch EDI provides legally compliant e-archiving with various user rights., Comarch EDI provides the service through partnerships.

58 56 E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE 2013 COMPANY PROFILES Total invoice management, 100% paper to electronic Printing Workflow functionality Direct integration with payments Accounts Payable management Accounts Receivable management Integration with ERP/ accounting software Which standards do you support? Conversion from or into various XML formats (mapping) Content validation of incoming invoice data Facilitate customer onboarding Other services, Comarch provides the service via through partnerships. No No No No, Comarch EDI integrates with any ERP/accounting software., Comarch EDI supports any structured data format., Comarch EDI enables conversion from-to any XML format., Comarch EDI uses various rules adjusted to buyer s particularities., Comarch EDI provides multilingual onboarding service as well as self care automation tools. Master data management, supply chain management, EAI, e-commerce. INDUSTRY INSIGHTS FROM TOP PLAYERS IN THE E-INVOICING, SUPPLY CHAIN FINANCE AND E-BILLING SERVICES MARKET

59 COMPANY PROFILES E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE Company Consorzio CBI Consorzio CBI develops certified standards and defines a reference regulatory framework, which allows his members (620 financial institutions) to provide their clients (over 900,000 enterprises and public administrations) with innovative services, either in the collection and payment area, in the document management area (e.g. e-invoice), according to main international standards (e.g. ISO 20022). Consorzio CBI launched in 2013 a new EBPP service, named CBILL, for e-billing online payments. Website Service provider type Head office location In which market do you provide your services? Contact details Consortium of Financial institutions (banks, Poste Italiane, payment institutions, other PSPs). Italy Italy Mrs Marina Schicchi, Manager - Marketing, Communication and Events, [email protected], Ph Ph Active since 2001 Keywords corporate banking, e-invoice, e-billing, financial services, standardization body, cash management. Markets Which side in the supply chain is your primary target group? B2B, B2C and/or B2G (Government)? Target customer Are you specialized in a certain industry? Buyers and suppliers B2B, B2C, B2G Micro SME s, SME s, corporates, public administration, retail Finance and payments Proposition Which processes in the supply chain do you facilitate? Support interoperability with other service providers? Which pricing model do you mainly use? Solution description Supply chain finance, invoicing, payments, reconciliation of order. Standard: yes, we grant interoperability with main ERP solutions. Furthermore, Consorzio CBI takes part in several international working groups (EPC STF, CEN e-invoicing WGs, UN/CEFACT Supply Chain PDA, ISO SEG and RMG, IPFA, CGI), allowing interoperability with main cross-border standards of reference. Consorzio CBI develops innovative services regarding e-invoicing; in particular, value added services have been introduced to help banks develop advanced offers to their clients. On this common base, each single bank can develop value added and distinctive services in its competitive space: for example, the reconciliation service, or the support in the dispute process between seller and buyer, or the electronic archiving to ensure the legal validity of e-invoices. So Consorzio CBI doesn t offer directly the e-invoicing service, because CBI architecture is based on a shared model, where the CBI Consortium defines communication protocols and standards, while each single bank develops its own IT platforms and applicative solutions in its competitive area. End-to-end exchange among CBI users both B2B and B2G. Services Purchase Order Flip Matching of related transactions Distribution of e-invoices Invoice presentment portal Legal compliance tools TAX/VAT compliancy e-signature service Competitive area Competitive area Competitive area Competitive area (enabled by CBI rules)

60 58 E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE 2013 COMPANY PROFILES Finance & (reversed) factoring services (Dynamic) discounting e-archiving Scanning of paper invoices Total invoice management, 100% paper to electronic Printing Workflow functionality Direct integration with payments Accounts Payable management Accounts Receivable management Integration with ERP/ accounting software Which standards do you support? Conversion from or into various XML formats (mapping) Content validation of incoming invoice data Facilitate customer onboarding Other services : Consorzio CBI has been the first submitting Italian organization to set standards for the Business Area Trade Services in the ISO20022 Repository, lodging the Invoice Financing Request service (in November 2007) and the Creditor Payment Activation Request (CPAR) service (in September 2010). Competitive area Competitive area Competitive area Competitive area Competitive area Competitive area (enabled by CBI rules) Competitive area Competitive area Competitive area: the CBI e-invoice service is flexible and interoperable with other standards. It is based on UN/CEFACT CII and ISO20022 Financial Invoice but it is also interoperable with other standards. Competitive area Competitive area Competitive area

61 CBI CBI 2013 Innovation in transactional market: CBILL, e-invoicing and Big Data Rome - Palazzo Altieri 21/22 November Registration and Information Tel /9 Fax [email protected] With the patronage of Media Partner

62 60 E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE 2013 COMPANY PROFILES Company ebpsource Limited The most experienced team in the international electronic billing and payment industry, ebpsource delivers software solutions, consultancy and support to global tier 1 billers, banks, payment processors and outsourced service providers. ebpsource also serves as Master International Distributor for the world s leading e-billing and payment software platform. Website Service provider type Head office location In which market do you provide your services? Software vendor, reseller, e-billing, e-invoicing and payment specialist UK Globally Contact details Steve Wright, Commercial Director, [email protected], Active since 2006 Keywords ebpsource, ebilling, e-billing, payment, software, consultancy, support, e-invoicing Markets Which side in the supply chain is your primary target group? B2B, B2C and/or B2G (Government)? Target customer Are you specialized in a certain industry? Both suppliers and buyers B2B, B2C, B2G Corporates Cross-industry with specific specialisations in national e-bill consolidation, bank-based e-invoicing and payment, telecoms and utility e-billing Proposition Which processes in the supply chain do you facilitate? Support interoperability with other service providers? Which pricing model do you mainly use? Solution description Invoicing, payments, supply chain finance, ordering ebpsource has a wealth of experience in connecting e-billing and payment infrastructures, at a national and regional level. License, subscription, transaction-based ebpsource provides a range of software, consultancy and support services to help clients achieve new levels of operational efficiency, customer service and cost reduction. The team works closely with clients to design, deploy, develop, integrate and support end customer applications. Our key focus is long-term strategic partnerships with customers. Services Purchase Order Flip Matching of related transactions Distribution of e-invoices Invoice presentment portal Legal compliance tools TAX/VAT compliancy e-signature service Finance & (reversed) factoring services (Dynamic) discounting e-archiving Scanning of paper invoices Total invoice management, 100% paper to electronic Printing Workflow functionality Direct integration with payments Accounts Payable management No No

63 COMPANY PROFILES E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE Accounts Receivable management Integration with ERP/ accounting software Which standards do you support? Conversion from or into various XML formats (mapping) Content validation of incoming invoice data Facilitate customer onboarding Other services All current major e-invoicing, e-billing and payment standards. Technology development, consultancy and application support. A MUST-HAVE FOR ALL PROFESSIONALS IN THE E-INVOICING, SUPPLY CHAIN FINANCE AND E-BILLING INDUSTRY

64 62 E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE 2013 COMPANY PROFILES Company GXS TM GXS is a global B2B e-commerce and integration services company. We deliver global B2B e-commerce integration to over 70% of Fortune 500 companies. Through the company s key offerings, GXS Trading Grid and GXS Managed Services, we enable simplified document exchange, enhanced supply chain visibility and streamlined communications with trading partners. Website Service provider type Head office location In which market do you provide your services? / E-invoicing for corporates, SMEs and banks, SaaS Order-to-Pay and SWIFT Service Bureau US Global Supply Chains Contact details Nigel Taylor, Marketing Director, Head of e-invoicing Solutions, T: +44 (0) Active since 1967 GXS Ltd. 18 Station Road, Sunbury on Thames, Middlesex. TW16 6SU. United Kingdom. Keywords e-billing, e-invoicing, b2b, software as a service, electronic invoicing, order to cash, order to pay, procure to pay Markets Which side in the supply chain is your primary target group? B2B, B2C and/or B2G (Government)? Target customer Are you specialized in a certain industry? Both buyers and suppliers B2B, B2G, Corporate to Bank Large enterprises simple to complex e-invoicing scenarios, such as Direct Store Delivery, Pay on Scan, Indirect materials. Banks partner with financial institutions to offer e-invoicing solutions, including all above. SMEs cost-effective EDI solutions for SME s to integrate with customers and other trading partners. GXS B2B integration solutions cover most industry verticals, in particular the automotive, hightech, general manufacturing, retail, logistics, consumer packaged goods and banking sectors. Proposition Which processes in the supply chain do you facilitate? Support interoperability with other service providers? Which pricing model do you mainly use? Solution description Full physical and financial supply chain including product catalogue, ordering, logistics, warehouse receiving, invoicing, treasury, financing and payments. GXS has many interconnects, over 80,000 mailboxes established and actively interoperates using the EESPA model interoperability agreement. Subscription and/or transaction-based GXS Active Applications provide SaaS integration, visibility and collaboration between multiple trading partners. The solutions enable the automation of purchase orders, inventory, shipments and invoices across the order-to-pay lifecycle. GXS provides global tax compliant e-invoicing solutions for both EDI and digital signatures, and supports both direct and indirect materials spend. Services Purchase Order Flip Matching of related transactions Distribution of e-invoices Invoice presentment portal Legal compliance tools. Invoice fields can be pre-populated from the original purchase order via a turnaround thereby reducing the likelihood of data errors.. When an invoice arrives it can be matched against multiple documents, including POs, ASNs & GRNs.. Fully integrated Invoices can be delivered via networked EDI, web portal or direct connections (e.g. AS2). Semi-integrated invoices can be delivered via .. Suppliers can enter invoice data into a web portal. GXS offers legal compliance for electronic invoices by validating tax data, ensuring authenticity & integrity of the e-invoice through digital signatures or Electronic Data Interchange (EDI), and electronic archiving.

65 COMPANY PROFILES E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE TAX/VAT compliancy e-signature service Finance & (reversed) factoring services (Dynamic) discounting e-archiving Scanning of paper invoices Total invoice management, 100% paper to electronic Printing Workflow functionality Direct integration with payments Accounts Payable management Accounts Receivable management Integration with ERP/ accounting software Which standards do you support? Conversion from or into various XML formats (mapping) Content validation of incoming invoice data Facilitate customer onboarding Other services GXS offers TAX/VAT compliance with either EDI or Digital Signatures for 42 countries: Argentina, Australia, Austria, Belgium, Brazil, Bulgaria, Canada, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hong Kong, Hungary, Iceland, Ireland, Israel, Italy, Latvia, Liechtenstein, Lithuania, Luxemburg, Mexico, Morocco, Netherlands, New Zealand, Norway, Poland, Portugal, Romania, South Africa, Singapore, Slovakia, Slovenia, Spain, Sweden, Switzerland, UK, US. GXS works with a partner, TrustWeaver to provide digitally signed invoices. GXS works with financial services partners to facilitate trade finance solutions. No. GXS offers TAX/VAT compliant invoice archiving.. GXS works with our scanning partner to remove the burden of paper processing, and to transition to a fully electronic process.. GXS works with our scanning partner to remove the burden of paper processing, and to transition to a fully electronic process. No Partial. GXS delivers validation, exception management, analytics and reporting capabilities to allow for real-time problems to be effectively resolved through buyer/supplier collaboration. No GXS offers e-invoicing solutions that resolve the challenges faced by large Accounts Payable departments. GXS offers e-billing solutions that resolve the challenges faced by large Accounts Receivables departments. GXS is the global leader for B2B integration and offers many ERP/Accounting adapters and services options. GXS is the global leader for B2B integration. We support all major global standards and many others around the world. GXS is the global leader for B2B integration.we support all major global standards and many others around the world. GXS evaluates inbound and outbound electronic transactions against documented rules and requirements, flagging errors and issues with drill down to root-cause data. GXS Expert On-Boarding and GXS Active Community help our customers achieve 100% trading partner participation. We have extensive experience on-boarding suppliers, customers, financial institutions and third-party logistics companies globally. Outsourced B2B services, SaaS Order-to-Pay, SWIFT Service Bureaux, corporate-to-banking services, managed file transfer, ERP integration, supply chain visibility, community management.

66 64 E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE 2013 COMPANY PROFILES Company Itella Information Itella Information streamlines customers finance and accounting processes by providing a high level of automation, enabling greater efficiency, flexibility and more effective business support. More than 10,000 customers use Itella Information s outsourcing streams and superior software and services to get more with less, especially in their purchase-to-pay and order-to-cash processes. Website Service provider type Head office location In which market do you provide your services? Contact details E-invoicing service provider Finland Europe Heikki Pulli, Business Development Director for E-Services, Itella Information, [email protected] Active since 1993 Markets Which side in the supply chain is your primary target group? B2B, B2C and/or B2G (Government)? Target customer Are you specialized in a certain industry? Both buyers and suppliers B2B, B2C, B2G, G2C, G2B Corporates, SME s Generic (no specific industry) Proposition Which processes in the supply chain do you facilitate? Support interoperability with other service providers? Which pricing model do you mainly use? Contracting, ordering, supply chain, invoicing, payments Subscription/transaction-based Services Purchase Order Flip Matching of related transactions Distribution of e-invoices Invoice presentment portal Legal compliance tools TAX/VAT compliancy e-signature service Finance & (reversed) factoring services (Dynamic) discounting e-archiving Scanning of paper invoices Total invoice management, 100% paper to electronic Printing Workflow functionality Direct integration with payments Accounts Payable management Accounts Receivable management Integration with ERP/ accounting software No No

67 COMPANY PROFILES E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE Which standards do you support? UN/CEFACT CII, ISO20022 Financial Invoice, UBL 2.0 Conversion from or into various XML formats (mapping) Content validation of incoming invoice data Facilitate customer onboarding Other services e.g. consulting, market reports A UNIQUE PERSPECTIVE ON THE WORLDWIDE E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET

68 66 E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE 2013 COMPANY PROFILES Company OB10 Ltd OB10, the global e-invoicing network, connects multinational organisations with thousands of their supplier. By delivering compliant invoice automation and early payment solutions, OB10 has processed over GBP 100bn in spend in the past 12 months for customers such as Aviva, BT, General Motors, GBP, Unilever, Kellogg s, Tesco, Barclays, Scottish Water, Pfizer, IBM, Whirlpool and US Federal Government. Website Service provider type Head office location In which market do you provide your services? Contact details Global e-invoicing network London, UK Globally Mr Ruud van Hilten, Senior Vice President Sales, EMEA & APAC, +44(0) Active since 2000 Keywords e-invoicing, electronic invoicing, e-billing, early payment, accounts payable, accounts receivable, procurement, supplier network, purchase to pay, supply chain finance Markets Which side in the supply chain is your primary target group? B2B, B2C and/or B2G (Government)? Target customer Are you specialized in a certain industry? Both buyers and suppliers B2B & B2G Micro SME s, SME s, corporates, multi-nationals Generic (no specific industry). E-invoicing is a horizontal process Proposition Which processes in the supply chain do you facilitate? Support interoperability with other service providers? Which pricing model do you mainly use? Solution description Invoicing, purchase to pay, early payments, purchase orders, e-billing, supplier self-service. We interoperate with compliant service providers where there is customer demand and real invoice volumes. Balanced - costs are shared by buyers and suppliers. We enable companies to send and receive error free, tax compliant invoices around the globe without the need to install any hardware or software. We provide a unique supplier engagement and onboarding programme to ensure that suppliers participate and transact with their buyers. Services Purchase Order Flip Matching of related transactions Distribution of e-invoices Invoice presentment portal Legal compliance tools TAX/VAT compliancy e-signature service Finance & (reversed) factoring services (Dynamic) discounting e-archiving Scanning of paper invoices. We can take POs from all sources in a buyer s structure and present these to the supply chain. Suppliers can convert POs directly into invoices on our portal.. We match invoices with POs, online-level if required.. Guaranteed delivery of compliant B2B invoices is our core service.. Suppliers can use our portal to manually enter their invoice data, convert a PO, check the status of their invoices and select early payment if offered by their buyer.. Our rules engine enables companies to receive compliant invoices in all jurisdictions we claim compliance in.. We work with local tax authorities to enable companies to receive compliant invoices. We are currently compliant in 42 countries with a number of new countries in progress.. All compliant invoices are digitally signed where required by local regulations. We provide at-source signature verification.. Express Payments is a service through financial partners.. We offer this service through Express Payments via our portal and one of our partners.. We provide legally compliant archiving.. As a component of a structured e-invoicing programme.

69 COMPANY PROFILES E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE Total invoice management, 100% paper to electronic Printing Workflow functionality Direct integration with payments Accounts Payable management Accounts Receivable management Integration with ERP/ accounting software Which standards do you support? Conversion from or into various XML formats (mapping) Content validation of incoming invoice data Facilitate customer onboarding Other services. As a component of a structured e-invoicing programme.. As a component of a structured e-billing campaign No. As all of our buyer customers have workflow(s) already established we securely deliver the high quality invoice data directly to the client.. Through our Express Payments service we directly integrate with financial institutions to pay suppliers early. No. We partner with the world s largest BPO providers. No. We partner with the world s largest BPO providers.. We fully integrate with any ERP financial software. We support all structured file formats and most data standards.. We support all structured file formats and most data standards.. We use extensive and flexible rules sets to ensure compliance with our buyers business processes.. We provide a unique supplier engagement and onboarding programme and can contractually guarantee paper conversion rates in best practice projects. POs, Invoice Status Service, e-billing, Express Payments.

70 68 E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE 2013 COMPANY PROFILES Company SERES (Docapost EBS) Seres, a Docapost (Groupe La Poste) and Bull subsidiary, is the European leader for dematerialization and electronic document exchange services enabling companies and their business partners to optimize their processes, automate their B2B, B2G and B2C exchanges and integrating their trade flows in an agile and safe way. Website Service provider type Head office location In which market do you provide your services? E-invoicing and EDI service provider France Global (focus on Europe and America) Contact details Mr Alberto Redondo, Marketing Manager Iberia & Latam, [email protected], Active since 1993 Keywords Electronic invoicing, EDI, VAN, digitalization & scanning, AP automation, purchase-to-pay, invoice automation, supply chain Markets Which side in the supply chain is your primary target group? B2B, B2C and/or B2G (Government)? Target customer Are you specialized in a certain industry? Buyers, suppliers B2B, B2C, B2G Consumers, micro SME s, SME s, corporates Retail, Goverment, pharmaceutical, health, banking, automotive, energy, telecom, chemical, utilities, transport and logistics. Proposition Which processes in the supply chain do you facilitate? Support interoperability with other service providers? Which pricing model do you mainly use? Solution description Contracting, ordering, supply chain, invoicing, payments. Full interoperability service through our NET.HUB service. License, subscription, transaction-based It has a comprehensive set of features to suit all your business needs, including your customers and suppliers requirements, regardless of your and their technological level. It covers any kind of e-invoice and paper invoice (e-invoice in several formats, printing and scanning, etc.). It integrates and adapts in non-intrusive way to their ERPs and information storage systems. Services Purchase Order Flip Matching of related transactions Distribution of e-invoices Invoice presentment portal Legal compliance tools TAX/VAT compliancy e-signature service Finance & (reversed) factoring services (Dynamic) discounting e-archiving. Full integrated with supply chains documents (orders, delivery notes, receiving advice message, etc.).. Automatching and match invoices with PO s, receipts or payments.. Through internal and external (Interoperability HUB) networks and conversion between electronic and paper invoice.. Check invoices on an own branded site or on Generic SERES portal. Identification system with user/password, electronic certificate or SSO.. It covers legal full compliance tools about electronic signature and EDI electronic.. According to law and rules in each countries (in Europe base on European Directive and each national laws, in Mexico with SAT laws and rules ).. Certification service provider. Own signature and validation service. Several signature method signed PDF, XAdES (included extended long-term X-L), PKCS#7. e-factoring and e-confirming capability (additional service). Additional service.. Integrated with a documents management system or with access to our archiving/storage management service..

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72 70 E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE 2013 COMPANY PROFILES Scanning of paper invoices Total invoice management, 100% paper to electronic Printing Workflow functionality Direct integration with payments Accounts Payable management Accounts Receivable management Integration with ERP/ accounting software Which standards do you support? Conversion from or into various XML formats (mapping) Content validation of incoming invoice data Facilitate customer onboarding Other services. Automatic document capture solution (OCR/ICR). Auto-learning scan. System identification according to the type of document, based on optical recognition context.. Digitalizations to incoming invoices and printing to outgoing e-invoices. Besides enveloping and delivery service (full coverage througt La Poste postal service). Integrated with a module used to validate and manage document circulation processes within your organisation.. Automatching and payment without human intervention process. Business and IT acknowledgment.. Advanced trazabilty tools to discover possible non-payment cases.. With more that 50 ERPs and accountig software. UN/EDIFACT, FACTURAE, UBL 2.0, SIGNED PDF, UN/CEFACT CII, ISO20022 Financial Invoice. 100% mapping formats coverage (XML and structured plain text file ).. Semantic and syntactic validation.. Advance management of change and community deployment (offer a wide range of IT solutions), telemarketing campaign. Please contact us for more information.

73 COMPANY PROFILES E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE Company Striata Communications Solutions Striata unlocks the power of and mobile messaging. Striata is a global paperless communications specialist. Our electronic delivery solutions dramatically increase customer adoption of paperless bills, statements, policies and other e-documents. This enables our clients to achieve ongoing cost savings; accelerates payments; enhances the customer experience and enables regulatory compliance. Website Service provider type Head office location In which market do you provide your services? Contact details E-invoicing service provider, specialist New York, US Global Regional Sales contacts:[email protected] North America: South America: Europe: Africa: Asia Pacific: Active since 1999 Keywords e-billing, e-invoicing, secure document delivery, paperless adoption, e-statement, electronic bill payment, invoice, EBPP Markets Which side in the supply chain is your primary target group? B2B, B2C and/or B2G (Government)? Target customer Are you specialized in a certain industry? Buyers, suppliers B2C Corporates Retail, utilities, telecom, media, insurance, financial services Proposition Which processes in the supply chain do you facilitate? Support interoperability with other service providers? Which pricing model do you mainly use? Solution description Invoicing, payments Striata engages with third parties on behalf of the customer to offer a holistic solution. License, transaction-based Replacing paper bills, invoices and statements with feature rich, interactive electronic documents that are delivered as secure attachments directly into customer inboxes, Striata s Bill Presentment & Payment (EBPP) solution is revolutionizing the way bills, invoices and statements are delivered and paid. Services Purchase Order Flip Matching of related transactions Distribution of e-invoices Invoice presentment portal Legal compliance tools TAX/VAT compliancy e-signature service Finance & (reversed) factoring services (Dynamic) discounting Create invoices from Purchase Orders. Match invoices with PO s, receipts or payments. Striata s Secure edocument Delivery solution replaces paper with electronic documents that are delivered as secure attachments directly to customer inboxes. Striata can make the documents available to and existing portal for presentation. Not applicable Not applicable Striata offers an eacceptance solution as well as full esignature functionality (via a Partner) Striata eacceptance provides a comprehensive set of features that will allow companies to embrace the world of electronic acceptance. Not applicable Business Rules can be applied to any data input including dynamic discounting.

74 72 E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE 2013 COMPANY PROFILES e-archiving Scanning of paper invoices Total invoice management, 100% paper to electronic Printing Workflow functionality Direct integration with payments Accounts Payable management Accounts Receivable management Integration with ERP/ accounting software Which standards do you support? Conversion from or into various XML formats (mapping) Content validation of incoming invoice data Facilitate customer on boarding Other services Striata offers different levels of archiving from sorting the history of all messages so it can be re-sent all the way through to full archiving at a preferred Partner. Not applicable Not applicable Not applicable Not applicable Striata BillPay offers a one-click, registration-free electronic payment, directly from within the ed document. Not applicable Not applicable Striata provides detailed statistics and reporting including data feeds into external systems. Striata s EIPP solution focuses on providing a flexible output format that meets the requirements of various e-invoicing portals. Striata s EIPP connectors deliver your e-invoices to the major e-invoicing hubs around the world, whilst delivering a secure ebill to the rest of your customers. Striata s flexible output formats are able to provide each portal s required format (EDI, XML, SOAP) without having to belong to or install portal software. Business Rules can be applied to incoming data including simple field format validation as well as more complex dependencies. The primary goal of an e-billing or e-invoicing project is to turn-off as much paper as possible. Striata Paperless Adoption Services are key services that Striata provides to all its clients, they drive paperless billing cost savings and efficiencies. Striata unlocks the power of and mobile messaging. Our electronic delivery solutions dramatically increase customer adoption of paperless bills, statements, policies, marketing and other high volume system-generated documents. Striata s enterprise platform, strategy and support services: - drive significant paper suppression - deliver ongoing cost savings - accelerate payments - enhance the customer experience - enable regulatory compliance Our comprehensive solutions expand the digital dialogue through personalized customer lifecycle messaging, retail receipts, notifications and alerts.

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76 74 E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE 2013 COMPANY PROFILES Company TIE Kinetix TIE Kinetix transforms the digital supply chain by providing total integrated e-commerce solutions. These solutions maximize revenue opportunities by minimizing the energy required to market, sell, deliver, and analyze online. TIE Kinetix makes technology to perform, such that customers and partners can focus on their core business. Website Service provider type Head office location In which market do you provide your services? Contact details E-invoicing service provider, software vendor, specialist, EDI The Netherlands Global, North/Latin America, Europe, Asia/Pacific Natascha Heijboer, , Active since 1987 Keywords EDI, e-commerce, e-invoicing, integration, message broker, SaaS, license, managed services, global, VAN Markets Which side in the supply chain is your primary target group? B2B, B2C and/or B2G (Government)? Target customer Are you specialized in a certain industry? Both We support all markets Small, medium and enterprise level customers Automotive, fast moving consumer goods, government, retail, utilities, telecom, consumer electronics Proposition Which processes in the supply chain do you facilitate? Support interoperability with other service providers? Which pricing model do you mainly use? Solution description B2B integration to help you with the exchange of purchase orders, invoices, payment instructions and other commercial transactions with trading partners via an Integration Broker., we offer interoperability with other service providers. We offer pricing models based on: one-off license, Software-as-a-Service and (Remote) Managed Service. We offer a modular Purchase-to-Pay and Order-to-Cash solution for EDI messaging and e-invoicing processes. Our solution helps businesses to improve efficiency, reduce costs and improve financial accuracy and control. The solution digitizes and automates the document flows related to accounts payable, receivable and goods flow in the supply chain. Services Purchase Order Flip Matching of related transactions Distribution of e-invoices Invoice presentment portal Legal compliance tools TAX/VAT compliancy e-signature service Finance & (reversed) factoring services (Dynamic) discounting e-archiving Scanning of paper invoices Total invoice management, 100% paper to electronic Printing. Our solution supports Purchase Order Flip, so an invoice is automatically created from the PO.. Matching can be done up to 4 ways: 2-way PO s only, 3-way PO s and receipts and 4-way +agreements.. We offer the delivery of invoices through our own network, Value Added Networks (VANs), a set of communication protocols and hubs., for both B2B and B2C through our e-commerce solutions.. We integrate such offerings with a third party legal compliance solution.. Our EDI and e-invoicing processing are TAX/VAT compliant for all countries.. Our solution supports the adding of e-signatures. No. No.. Our solution has standard archiving, easy search and retrieval, user friendly interfaces, integrates with third party e-archives and cloud services.. We support both paper based scanning and PDF processing capabilities.. We support 100% total invoice management. From scanning to electronic processing in a portal environment..

77 COMPANY PROFILES E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE Workflow functionality Direct integration with payments Accounts Payable management Accounts Receivable management Integration with ERP/ accounting software Which standards do you support? Conversion from or into various XML formats (mapping) Content validation of incoming invoice data Facilitate customer onboarding Other services. We offer an extensive set of flexible workflow activities.. We integrate with payment service providers., integrated with ERP system., integrated with ERP system.. UN/CEFACT CII, ISO20022 Financial Invoice, UBL 2.0, GS1, EDIFACT, ANSI X.12, TRADACOMS, etc.. We offer standard our own EDI translator with native EDIFACT and XML conversion capabilities... We offer this partially automated. Consultancy, project management and outsourcing.

78 76 E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE 2013 COMPANY PROFILES Company Tradeshift Tradeshift is platform for all your business interactions. It helps companies run more efficiently by harnessing the power of their network to create new value from old processes like invoicing, payments and workflow. Website Service provider type Head office location In which market do you provide your services? B2B Platform. E-Invoicing service provider, software vendor USA Global Contact details Tatiana Afanasyeva. Marketing Manager, Active since 2010 Keywords e-invoicing, workflow, B2B platform, financial services, cash flow management, electronic invoicing MARKETS Which side in the supply chain is your primary target group? B2B, B2C and/or B2G (Government)? Target customer Are you specialized in a certain industry? Both B2B Micro SME s, SME s, corporates Generic PROPOSITION Which processes in the supply chain do you facilitate? Support interoperability with other service providers? Which pricing model do you mainly use? Solution description Invoicing, payments Subscription Using Tradeshift as a platform for your business interactions almost always starts with e-invoicing. For small businesses, Tradeshift provides a free professional e-invoicing solution that works immediately with all your buyers. And for the enterprises who work with these suppliers and want them to use it too, Tradeshift sees more uptake than any other alternative. SERVICES Purchase Order Flip Matching of related transactions Distribution of e-invoices Invoice presentment portal Legal compliance tools TAX/VAT compliancy e-signature service Finance & (reversed) factoring services (Dynamic) discounting e-archiving Scanning of paper invoices Total invoice management, 100% paper to electronic Workflow functionality Direct integration with payments Accounts Payable management Accounts Receivable management, fully compliant globally, the Tradeshift workflow app automates much of the traditional work required by an employee to process a transaction

79 COMPANY PROFILES E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE Integration with ERP/ accounting software Which standards do you support? UBL, OIOUBL, OIOXML, BASDA XML (ebis), cxml (Ariba), CSV, X12 (210) EDIFACT (INVOIC, IFTFCC), TEAPPSXML (Tieto), Finvoice, CENBII04 (PEPPOL), GS1XML, OAGIS, xcbl, Svefaktura, EHF (Norwegian legislation), e2b (Norwegian), Rosettanet (PIP3C3), Nota Fiscal (nfe v2.0), SETU (hr-xml), IDOC (INVOIC02), TRADACOMS (INVOIC, CREDIT) Conversion from or into various XML formats (mapping) Content validation of incoming invoice data Facilitate customer onboarding Other services Platform, Apps THE E-INVOICING INDUSTRY ON THE LOOP: A COMPREHENSIVE OVERVIEW, CLEARLY STRUCTURED

80 78 E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE 2013 COMPANY PROFILES Company UnifiedPost SA UnifiedPost is a leading SAAS provider specialised in the optimization of business processes in the areas of accounts payable and receivable, payroll administration, contract management, legal e-archiving and other internal and external administrative communications. Via proprietary solutions and through different partnerships with e-invoice networks, scan partners, print houses, postal companies and document management solution providers, UnifiedPost offers solutions tailor-made to its customer s needs. Website Service provider type Head office location In which market do you provide your services? Contact details SAAS and BPAAS Belgium Global Mr Didier Magotteaux Tel , [email protected] Active since 2000 Keywords e-invoice, payments, SEPA, credit management, archiving, community solutions, document processing, print Markets Which side in the supply chain is your primary target group? B2B, B2C and/or B2G (Government)? Target customer Are you specialized in a certain industry? Buyers, suppliers B2B, B2C, B2G Micro SME s, SME s, corporates Generic (no specific industry) Proposition Which processes in the supply chain do you facilitate? Support interoperability with other service providers? Which pricing model do you mainly use? Solution description Contracting, invoicing, payments, accounts receivable management, legal electronic archiving. Transaction-based UnifiedPost specializes in the delivery of complete document communication solutions including multi-channel electronic invoices, electronic administrative documents and legal e-archiving. These services are complemented by extensive payment solutions and functionality, bank connectivity and credit management services. The UnifiedPost solutions are distributed internationally through a partner network. Services Purchase Order Flip Matching of related transactions Distribution of e-invoices Invoice presentment portal Legal compliance tools TAX/VAT compliancy e-signature service Finance & (reversed) factoring services. Payments and invoices are linked automatically through a fingerprint-hash derived from transaction data.. Invoice distribution and delivery is offered via different channels like , portal, smartphone, paper, XML/EDI.. Full functionality including labeling, advanced (outside) sharing, metadata editing, online payment, dispute management and mailing.. Europe-wide legally compliant storage and processing. A PWC comfort letter around our solution compliancy is available.. UnifiedPost has a tax-compliancy ruling with Belgian authorities.. We provide advanced electronic signatures based on a qualified certificate. Other user-friendly products to electronically sign documents are available. No

81 COMPANY PROFILES E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE (Dynamic) discounting e-archiving Scanning of paper invoices Total invoice management, 100% paper to electronic Printing Workflow functionality Direct integration with payments Accounts Payable management Accounts Receivable management Integration with ERP/ accounting software Which standards do you support? Conversion from or into various XML formats (mapping) Content validation of incoming invoice data Facilitate customer onboarding Other services The platform can be configured to initiate any dialog between buyer and seller, taking into account data from the underlying invoice.. Our secure and scalable e-archive guarantees long time readability and integrity. Consultation via a user-interface or internal applications is supported.. Scanning services are offered through partners. Documents and their metadata can be used for archiving, workflow and ERP-integration.. Offering both digital and paper distribution channels. On-boarding guidance to switch smoothly from paper to the receiver s preferred e-channel.. UnifiedPost has over 10 years of complex and simple printing processes, using an international network of local print houses.. We provide a (human-task) workflow engine for running high- volume workflows, including searchable task lists.. The platform supports both online payments (OBeP s, cards, high-volume) and SCT and SDD for both incoming and outgoing invoices.. UnifiedPost supports the entire workflow from incoming invoice (electronic or paper) over approval, payment and status feedback.. UnifiedPost Supports the entire workflow from outgoing invoice cash collection, reconciliation and status feedback.. Connections with accounting software and ERP systems like: Navision, Exact Globe, Dynamics, SAP A/R. UBL 2.0, Finvoice, GS1, ISO UnifiedPost offers a standard set of format conversions Finvoice/UBL 2.0/BMF100/Certipost. Additional custom conversions are easily implemented.. UnifiedPost activates format and content validation with a notification feature of AP-staff or supplier staff in case of noncompliance.. Triggering the receivers to make a choice and use this information to onboard the receivers on the e-channels. Please contact the UnifiedPost team for additional information on this topic.

82 80 E-INVOICING, SUPPLY CHAIN FINANCE & E-BILLING MARKET GUIDE 2013 COMPANY PROFILES Company Isabel SA - Zoomit Isabel SA is a leading provider of solutions and services within the financial value chain for consumers, businesses and banks. Website Service provider type Head office location In which market do you provide your services? Isabel offers with Zoomit a full B2C and B2B e-invoicing solution integrated in bank portals and ERP solutions. Belgium Local (Belgium) Contact details Régis Verschueren ([email protected]) Active since 1995 Markets Which side in the supply chain is your primary target group? B2B, B2C and/or B2G (Government)? Suppliers B2B, B2C, B2G Proposition Which processes in the supply chain do you facilitate? Support interoperability with other service providers? Which pricing model do you mainly use? Invoicing and financial transactions Zoomit is connected to other providers and is member of EESPA. Subscription and transaction model Services Purchase Order Flip Matching of related transactions Distribution of e-invoices Invoice presentment portal Legal compliance tools TAX/VAT compliancy e-signature service Finance & (reversed) factoring services (Dynamic) discounting e-archiving Scanning of paper invoices Total invoice management, 100% paper to electronic Printing Workflow functionality Direct integration with payments Accounts Payable management Accounts Receivable management Integration with ERP/ accounting software Which standards do you support? Conversion from or into various XML formats (mapping) Content validation of incoming invoice data Facilitate customer onboarding No No No No No No No No ISO20022 Financial Invoice (Finvoice), via external providers

83 NEW IN 2013! VISIT OUR NEW, ENHANCED ONLINE COMPANY PROFILES DATABASE ALL COMPANY PROFILES IN THE E-INVOICING, SUPPLY CHAIN FINANCE AND E-BILLING MARKET GUIDE 2013 ARE AVAILABLE ONLINE IN A NEW, ENHANCED COMPANY PROFILES DATABASE, COMPLETE WITH KEYWORDS, COMPANY LOGO AND ADVANCED SEARCH FUNCTIONALITY