Tuesday, April 26, 2011

INTTRA forms electronic payments advisory board for ocean shipping

Logistics technology provider INTTRA announced it has formed an advisory board for Electronic Invoice Presentment Payment (EIPP) standards.

The board consists of ocean shipping and freight forwarding executives over how best to automate invoicing and payments, INTTRA said in a statement.

Up to 25 percent or more of all invoices have at least one error with the cost of a paper invoice costing up to $50, according to INTTRA.

"There is a need for a more streamlined, cost effective and environmentally conscious invoicing process for the ocean shipping industry," said Andreas Krueger, vice president, head of global ocean freight operations, quality and compliance, DHL Global Forwarding.

INTTRA said one of the first initiatives of the EIPP board would be to look at leading causes of 'friction' within the EIPP process, including "inefficiencies of the dispute management process."

The board members have established five work teams to focus on specific areas for improvement, INTTRA said.

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