Proven solutions leveraged to bring the benefits of e-invoicing to
businesses
MINNEAPOLIS & DUBLIN--(BUSINESS WIRE)--Sep. 21, 2016--
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/
Source: U.S. Bank
U.S. Bank Corporate Communications
Bill Brady, 612-303-0731
bill.brady@usbank.com