OB10 is Middleware for the Financial Supply Chain [NACHA Payments]

by Erin McCune on May 25, 2008

in B2B, Conferences & Meetings, Global Payments, Payables, Receivables, Technology

[This is just one of my series of posts from the NACHA Payments 2008 conference in Las Vegas.]

OB10 – ERP and FI Agnostic Global eInvoicing [NACHA Payments]

Ob10_logo

OB10 is a well established buyer-centric eInvoicing solution, but they are in the process of reaching
out to AR as well as AP to offer ERP agnostic, electronic payment and
remittance solutions for buyers and suppliers alike. OB10 supports any
file "any-to-any data formatting" and supports client workflow solutions to
route payment data for approval and dispute resolution as well as messaging between trading partners to help resolve problems with exception invoices. The company is
developing more robust AR support that will provide electronic
remittance files for posting to AR, as well as PO delivery and
validation, and supplier financing support. These features will be
rolled first in Europe.

I was struck by the openness of OB10's
platform and how it is positioning itself as the middleware of supply
chain finance. In order for B2B payments to transition to electronic in
meaningful numbers, there has to be a way to seamlessly connect the
proprietary formats utilized by banks, ERPs, and payment processors.

It
is not surprising that OB10 perceives paper scanning and OCR as its
biggest competitor. Recognizing that businesses have to manage a mix of
paper and electronic transactions for the foreseeable future, OB10
partners with a document processing firm to handle paper. Yet the
persistence of paper, and the introduction of data entry errors, only
exacerbates the B2B payment challenge.

OB1o offers its brand
name buyer customers supplier enrollment expertise, the "infantry"
necessary to facilitate supplier implementation on a multinational
basis.

>> Return to index of my posts from NACHA Payments 2008

Payments2008

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