- Leading companies answer INTTRA's call for standardization -
Parsippany, NJ, April 26, 2011 - INTTRA, the leading provider of e-commerce solutions for the ocean freight industry, announced today the company has formed, with the support of global ocean container shipping leaders, a new Ocean Freight Industry Electronic Invoice Presentment and Payment (EIPP) Standards Advisory Board. Industry executives, representing more than a dozen of the leading ocean carriers and global freight forwarders, signed a charter to participate in this initiative following a founding meeting that took place in Hamburg, Germany this past November.
In the ocean shipping industry, one of the biggest challenges remaining for e-commerce is how to automate the business processes involved in bill presentment and payment. According to INTTRA, up to 25% or more of all invoices have one or more errors and the processing cost of a paper invoice can be as much as $50 or higher.
"We see this challenge as an opportunity for industry-wide collaboration in order to increase operational efficiencies related to EIPP," said Stuart Tarmy, Senior Director, EIPP at INTTRA and Executive Officer of the EIPP Standards Advisory Board. "Since reaching out to carriers and forwarders in the containerized ocean transport industry, we've found that the interest in creating an industry forum has grown significantly. We are all eager to leverage this community in order to drive the adoption of common standards and automation in EIPP."
One of the first initiatives of the EIPP Standards Advisory Board will be to prioritize and address leading causes of 'friction' within the EIPP process, such as the inefficiencies of the dispute management process. Members have established five work teams to focus on key areas for process improvement and advance standards between carriers and forwarders.
In addition to the work teams, the Board elected a Supervisory Board to oversee membership recruitment and administration of the member charter. The Supervisory Board includes the Executive Officer, two carriers, Hamburg Sud and Maersk Line, and two logistics providers, DHL Global Forwarding and Kuehne + Nagel.
"We hope that carriers and other industry leading organizations will join the EIPP Standards Advisory Board and gain the benefits of working towards creating common standards that would allow carriers, forwarders and shippers to gain efficiencies, receive and pay invoices quickly, identify billing errors automatically and more quickly resolve disputes about payments," said Tarmy.
INTTRA is a leading global provider of e-commerce solutions to the ocean freight industry. INTTRA professionals work with over 30 leading carriers and their customers to streamline and standardize their shipping processes worldwide through a network of more than 25,000 corporate locations. Over 400,000 container orders are initiated on the INTTRA platform each week, representing more than 12 percent of global ocean container trade. For further information, visit http://www.inttra.com.
About the Ocean Freight Industry EIPP Standards Advisory Board
The Ocean Freight Industry EIPP Standards Advisory Board was established by INTTRA and includes executives representing the leading ocean carriers and global freight forwarders. Its mission is to lead the ocean freight industry, as a community, towards greater efficiency in Electronic Invoice Presentment and Payment through standardization and automation. Member organizations include Agility Logistics, APL, BDP International, CEVA Logistics, CMA CGM, DB Schenker, DHL Global Forwarding, Hamburg Süd, Hapag-Lloyd, INTTRA, JF Hillebrand IT BV, Kuehne + Nagel, Maersk Line, MSC, Panalpina, Rohlig blue-net GmbH, and Safmarine.
INTTRA, the INTTRA logo, INTTRA-LINK, INTTRA-Desktop, INTTRA-ACT are trademarks or registered trademarks, service marks or registered service marks of INTTRA, Inc. All other product and company names mentioned herein may be trademarks of their respective holders.