Established for corporations, this Internet-based service will enable straight-through processing of invoice presentment and payment initiation. The service allows billers to submit invoices to payers through a single on-line channel, with both parties able to review invoice status at any time, manage disputes on-line and receive or generate a full audit trail of the transaction. With this service, which will help ensure process transparency and compliance, corporations can more effectively manage their working capital and cash flow, ultimately resulting in increased cost savings and improved credit ratings.
This EIPP service combines Deutsche Bank's financial management capabilities with CSC's business process improvement and systems integration capabilities.
âDeutsche Bank once again proves its innovative approach by providing a first-class solution to help its customers improve their financial supply chain management,â said Andrew England, Head of Product Management â Cash Management, Deutsche Bankâs Global Transaction Bank. âWith this integrated solution we are, together with CSC, at the forefront of market development.â
"Whilst EIPP has been heralded for some time, to date little has been done to allow companies to achieve this level of automation,â said Steve Mitchener, president of CSC's Financial Services Group in Europe, the Middle East and Africa (EMEA). âDeutsche Bankâs decision to collaborate with us for this offering underscores CSCâs experience in the cards and payments market and our leadership in systems integration and process improvement. We are confident that, together, we will deliver significant business results to those corporations that have the ultimate objective of truly integrating their financial supply chain."