EIPP
Encyclopedia : E : EI : EIP : EIPP
EIPP is an American term now used in UK and elsewhere, and stands for Electronic Invoice Presentment and Payment. Its definition includes three functions; an electronic invoice (sending an invoice electronically from A/R system), presentment of the sent invoice (on line and/or on the recipient's A/P system) and a facility for handling payment for the approved invoice. Modern EIPP solutions use internet technologies to achieve these three functions cost effectively.
On the other hand e-invoicing means sending an invoice electronically. This could be through a number of mediums (e.g. via e-mail). Most accounts and ERP systems can easily achieve this functionality without using a third party provider, e.g. Sage's Transaction E-mail.
ebdex Document Exchange or more accurately, ebdex EIPP, is such an EIPP solution. There are only a handful of players in the UK market offering innovative EIPP solutions.
EIPP market can be split into four segments, these being: supplier-centric (sending invoices electronically from A/R systems), buyer-centric (receiving invoices electronically into A/P systems), enterprise-centric (sending and receiving invoices electronically from/into A/R and A/P systems - a customised solution usually based on ERP solution) and exchanges.
The first three types generally cater for one party, usually the dominant player to the cost of its trading partners. They also provide partial solutions, which limits benefits that could be gained by parties involved in a transaction. The enterprise (and DIY) solutions are costly due to underlying ERP solutions and high consultancy fees usually charged by system integrators (including VARs, management consultancies, etc).
Exchanges have emerged over the last six years. Some of early exchanges have become supplier networks catering predominantly for larger purchasers, e.g. Ariba. Some are industry specific and caters for large buyers and tier 1 suppliers (e.g. Exostar for A&D industry and Covisint for Automotive industry). Some have become e-procurement platforms used by large retailers, e.g. Marrakech.
However, a number of true non sector based exchanges have emerged that cater for both end of a transaction (i.e. buyer and purchaser) equally irrespective of their size or geographically, i.e. they offer the same functionality to both parties. ebdex Document Exchange is such an EIPP solution. Success of such a solutions lie when they can be offered to both large and small companies, where both parties gain substantial benefits, be they reducing of debtor days, early payment discounts, corporate governance
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