ePayment Leader U.S. Bank Extends Electronic Freight Payment Invoicing to Europe
September 21 2016 - 12:00PM
Business Wire
Proven solutions leveraged to bring the
benefits of e-invoicing to businesses
Elavon Financial Services, European subsidiary of U.S. Bank, now
offers electronic freight invoicing support specially designed to
satisfy developing regulatory requirements in Europe. The
e-invoicing service from Elavon Freight Payment is fully automated,
traceable for auditing and compliant with European Union and local
regulations. Built on a highly adaptable invoice processing
platform, the Elavon e-invoicing process makes it simple for
business partners to transition and meet new requirements as
regulations evolve.
“Europe generally lags behind the Americas in adoption of
e-invoicing due to multiple competing formats and regulations,”
said Gráinne Fennell, senior product manager for Elavon Freight
Payment. “However, the European Union is trying to jumpstart wider
adoption through ordinances such as the EU e-invoicing directive,
which mandates electronic invoicing for business-to-government
transactions in the EU by November 2018. We expect the directive to
have a much wider commercial impact as suppliers sending e-invoices
to government customers migrate to the same process for all
customers for efficiency.”
Elavon Freight Payment leverages proven tools already serving
thousands of North American customers to craft one of the first
solutions to meet the business and regulatory requirements
associated with European e-invoicing. It seamlessly accommodates
the complex country-by-country regulations, creating a consistent
experience and alleviating compliance risk for the user, regardless
of where in Europe the transaction starts or ends.
Electronic invoicing offers four key advantages over paper
invoices:
- Traceability: To keep a tight
control over the inbound files, organizations have full visibility
to all files submitted to the system. This includes an
acknowledgment mechanism that ensures reception of the submitted
e-invoices and the validation of the e-signatures.
- Automation: The process is fully
automated to significantly accelerate the processing window and
still comply with Elavon’s strict policy on fraud prevention.
- Tax compliance: E-invoicing is
designed to be a component of a tax compliant solution.
- Cost savings: E-invoicing offers
significant cost savings vs. paper invoices through processing
efficiencies, automation and invoice storage.
Shippers and carriers interested in Elavon’s EU-compliant
e-invoicing solution should visit elavonpayment.com.eu.
©2016 U.S. Bank National Association
About U.S. Bank and Elavon Freight Payment
With offices in Dublin and Brussels, Elavon Freight Payment is a
certified EU payment provider, employing a team of regional experts
who share in-depth knowledge of European freight and freight
invoicing to ensure our proven solution satisfies the requirements
of any European shipping destination. Elavon Freight Payment is
part of Minneapolis-based U.S. Bancorp (NYSE: USB), with $438
billion in assets as of June 30, 2016. U.S. Bank National
Association is the fifth largest commercial bank in the United
States. The Company operates 3,122 banking offices in 25 states and
4,923 ATMs and provides a comprehensive line of banking,
investment, mortgage, trust and payment services products to
consumers, businesses and institutions.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160921006204/en/
U.S. Bank Corporate CommunicationsBill Brady,
612-303-0731bill.brady@usbank.com
US Bancorp (NYSE:USB)
Historical Stock Chart
From Mar 2024 to Apr 2024
US Bancorp (NYSE:USB)
Historical Stock Chart
From Apr 2023 to Apr 2024