Kuehne + Nagel commits to INTTRA eInvoice platform
INTTRA eInvoice is an electronic invoicing, dispute resolution and payment processing solution that will enable freight forwarders to receive, process and pay carrier invoices and offers the potential to cut average transaction processing costs by more than half.
“We are pleased to be part of this broad industry initiative. Invoicing, dispute resolution, and payment processes are highly fragmented across the industry and represent a significant area of cost and inefficiency. There are an estimated 150 million invoice transactions processed a year for ocean shipping with average costs ranging from $20 – $60 per invoice. Logistics providers and their ocean carriers can benefit from standardizing the process, improving visibility to their cash liabilities and providing a more transparent invoicing process saving time and resources,” said Otto Schacht, Senior Vice President Global Seafreight at Kuehne + Nagel.
John DeBenedette, INTTRA’s Vice President Commercial said, “In this unprecedented economic downturn, there are tremendous savings from finding ways to reduce operational costs across the industry. INTTRA eInvoice integrates with any banking relationship and any contract database partnership, enabling customers to realize cost savings more quickly and reduce the estimated $500 million in industry costs from inefficient invoicing processes. We believe the INTTRA eInvoice solution supported by Kuehne+Nagel and the world’s leading carriers will provide the most effective way for the industry to take cost out of their businesses.”
INTTRA is a leading global provider of e-commerce solutions to the ocean freight industry. INTTRA professionals work with over 30 leading carriers to streamline and standardize their shipping processes worldwide through a network of over 20,000 corporate locations. Nearly 300,000 container orders are initiated on the INTTRA platform each week, representing more than 10 percent of global ocean container trade.
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.