- Introduction of E-Remittance Approach: The Digital Business Networks Alliance (DBNAlliance) has launched a structured e-remittance approach based on ISO 20022, designed to enhance electronic remittance advice by informing suppliers about payment details, invoice references, and any deductions or adjustments.
- Advantages for Businesses: This standardized remittance format facilitates easier reconciliation, integrates seamlessly with ERP systems, and supports various payment methods (ACH, wire, card, and check), allowing companies to reduce manual processes, lower costs, and speed up payment matching.
- Upcoming Learning Opportunities: The E-Invoicing Exchange Summit in Miami will feature a free session on the DBNAlliance on March 24, along with additional discussions on March 25 and 26, providing attendees with insights into the benefits and implementation of the e-remittance system.
Source The Invoicing Hub
