B2B Payments

Aussie Firm Passes B2B Doc-Sharing Milestone

An Australian company providing services for companies to exchange transaction information between each other has just reached a new milestone. Reports said yesterday (Nov. 5) that the MessageXchange platform hit the 100 million mark for the number of transactions a year it has facilitated between suppliers and corporate buyers.

These transactions represent an array of information, including invoices, purchase orders and other types of documents crucial to the B2B supply chain.

“While most businesses already use electronic PDF documents, emailing and tracking these documents can still be labor-intensive and prone to error, slowing down business transactions and payments,” said John Delaney, a cofounder and managing director of eVision, which developed MessageXchange.

[bctt tweet=”Emailing and tracking PDF invoices can still be labor-intensive and prone to error.”]

The company added that its data exchange service is key to businesses as they expand and go global. Corporate growth, eVision noted, means businesses have to more adequately digitize their document exchanges.

The company utilizes cloud technology to ensure the secure flow of transactions. “The result is a reduction in the need for human intervention and manual handling of invoices, purchase order and other supply chain paperwork,” the company’s announcement stated.

The platform was built by a research and development team at eVision in an effort to explore which technologies can most adequately address the needs of the digital, multi-jurisdictional supply chain.

Evision added that amid its growth, it appointed Stephen Martin as account manager for financial services. Martin has experience working for the Department of Defense, National Australia Bank, ANZ Bank and others, the firm said.

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New PYMNTS Report: The CFO’s Guide To Digitizing B2B Payments – August 2020 

The CFO’s Guide To Digitizing B2B Payments, a PYMNTS and Comdata collaboration, examines how companies are updating their AP approaches to protect their cash flows, support their vendors and enable their financial departments to operate remotely.