Kuehne + Nagel Commits to Electronic Invoice Platform

Kuehne + Nagel is collaborating with Inttra for the latter’s eInvoice implementation. This commitment represents an endorsement of the latter’s initiative to drive efficiencies and cost savings in the US$200 billion ocean container shipping industry.

Inttra eInvoice, is an electronic invoicing, dispute resolution and payment processing solution that will enable freight forwarders to receive, process and pay carrier invoices. It offers the potential to cut average transaction processing costs by more than half.

"We are pleased to be part of this broad industry initiative. Invoicing, dispute resolution, and payment processes are highly fragmented across the industry and represent a significant area of cost and inefficiency. There are an estimated 150 million invoice transactions processed a year for ocean shipping with average costs ranging from US$20 - US$60 per invoice. Logistics providers and their ocean carriers can benefit from standardizing the process, improving visibility to their cash liabilities and providing a more transparent invoicing process saving time and resources," said Otto Schacht, Senior VP Global Seafreight at Kuehne + Nagel.

Kuehne + Nagel, www.kuehne-nagel.com