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EIPP Illuminated

Corporate resistance to EIPP is fading as CFOs recognize its value and vendors rise to the occasion. Now, companies can receive up to 95% of invoices electronically regardless of how they are delivered

By Richard Gamble | Updated on September 05, 2007

Can it be? Finance departments are actually enthusiastic about electronic invoice presentment and payment (EIPP)? You bet. After almost a decade of corporate resistance to creating an EIPP network, the tables have finally turned, and buying organizations are seeking out the efficiencies that come from getting the vast majority of incoming invoices through one electronic channel in one electronic format that flows automatically into accounts payable (A/P) systems.

CFOs are discovering that a lack of effective EIPP is holding back their efforts to drive working capital economics and are issuing orders to find effective ways to introduce EIPP, often in step with other large transformations reshaping the physical supply chain. “We’re a lot more positive on EIPP now than two years ago,” says Craig Jeffery, managing director of Atlanta-based Strategic Treasurer LLC. “We’ve seen real growth in the past few months. After years of treading water, a couple of vendors have achieved critical mass.”

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