The multi-year partnership enables RBS to provide a VAT-compliant e-invoicing service to its corporate customers. RBS said customers who implement the service can replace slow and costly paper-based processes with a faster, more efficient and environmentally friendly technology.
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The Accountis e-invoicing service provides detailed status information, such as proof of delivery, acceptance, and query and approval status for all documents involved in a business transaction from the purchase order to the invoice.
RBS said the service provides real-time dispute management that enables customers to optimise the speed with which exceptions are resolved.
The detailed reporting on the status of business transactions provides greater visibility of the financial supply chain and enables corporates to optimise their working capital requirements, it said.
Ian Watkinson, head of e-invoicing at RBS, said, "For our customers we see e-invoicing as a fast-track to saving time and money. In addition to eliminating paper and automating manual processes, users of the service will quickly benefit from real-time document management, faster settlements and better working capital optimisation."
He added, "We see e-invoicing as a strategic addition to our existing product portfolio. By offering additional transaction services such as e-invoice delivery, we will gain greater visibility of our customer's end-to-end, financial supply chain transactions.
"This will help us improve our understanding of their business and strengthen our long-term relationship. It also places us in a better position to offer additional services such as supplier finance provisions and other innovative finance arrangements."