B2B Payments Experts Launch Digital Business Networks Alliance
The Business Payments Coalition (BPC) and Federal Reserve Financial Services are committed to enhancing the way supporting information for business-to-business (B2B) payments is disseminated and processed. With this goal in mind, the participants of the E-invoice Market Pilot have recently founded the Digital Business Networks Alliance (DBNAlliance), which serves as the governing entity for a novel electronic exchange network.
This innovative network, formulated to address the myriad issues businesses encounter while exchanging invoices across various platforms and systems, is an electronic delivery platform guided by a set of technical standards and policies. These protocols allow businesses to share electronic supply chain documents securely, despite each business operating on different software systems. Addressing common challenges like determining the type of information to send, the mode of electronic delivery, and the connection to other businesses, the exchange framework offers a set of standards to facilitate a secure exchange of electronic invoices (e-invoices) between businesses.
DBNAlliance, in its capacity as the regulatory body, will aid service providers in establishing a connection to the exchange framework. It will also assume the responsibility of defining the standards, policies, rules, and guidelines for e-invoicing, and supervising the operation of the exchange framework, now accessible to all businesses through their respective service providers.
For more information or to join contact us at firstname.lastname@example.org.