Welcome!

News Feed Item

PNC Bank And OB10 To Provide Comprehensive E-Invoicing Technology For Commercial Customers

- Network extends straight-through invoice processing from purchase order to payment -

PITTSBURGH, Jan. 29, 2014 /PRNewswire/ -- PNC Bank, N.A., a member of The PNC Financial Services Group, Inc. (NYSE: PNC), announced today an enhancement to its invoice automation technology solution for mid-size and large businesses. PNC now offers expanded automation of the procure-to-pay process through electronic invoicing capabilities powered by OB10, the global e-invoicing network that is part of Tungsten Corporation plc (LSE:TUNG). PNC is the first commercial bank in the United States to integrate OB10 with its invoice automation platform.

PNC helps customers to achieve straight-through invoice processing from invoice receipt to payment utilizing both workflow-based or automated approval processes. PNC's integrated solution enables invoice data to be submitted in any format, including paper, e-mail, fax and file transfer or by originating an invoice electronically through the OB10 online portal.  

Benefits of combining PNC's accounts payables solutions for commercial customers with the OB10 e-invoicing network include:

  • One provider to receive and process both paper and electronic invoices.
  • Higher quality data that reduces exceptions and error-prone manual processing.
  • Streamlined invoice processing through automated receipt of invoices and online workflow approval.
  • Faster, more cost-effective payment process.
  • The ability to capture more early payment discounts.

"PNC led the banking industry by combining high-speed imaging and data capture with accounts payable workflow to convert paper invoices to electronic data for processing and reporting.  Upon that foundation, we can now offer our customers a single, integrated solution for all types of invoices using technology that has been broadly adopted," said Chris Ward, head of Treasury Management product management at PNC Bank.

"Our strategic partnership with PNC will allow more organizations to improve their global trading capabilities, so bringing greater efficiency to their supply chains, and optimizing their working capital," said Edmund Truell, group CEO at Tungsten Corporation plc. "We look forward to working closely with PNC to develop a comprehensive invoice-to-pay service."

PNC commercial customers selecting this new technology will invite their suppliers to submit invoices through the OB10 network, a technology already in use by major U.S. trading partners.  No hardware or software installations are required by suppliers. For invoices that continue to be sent by paper during and after the OB10 enablement period, PNC's imaging platform may be utilized to digitize all of the invoice data.

OB10 (www.OB10.com) is the global e-invoicing network at the core of Tungsten Corporation plc (www.tungstencorporationplc.com) that simplifies and streamlines the complex invoice-to-pay process to enable prompt payment. Compliant in 43 countries across Europe, the Americas and Asia, OB10 can reduce invoice-processing costs by 60% and deliver an ROI in less than a year.  Tungsten Corporation's OB10 network connects some of the world's largest companies and government agencies to their thousands of suppliers around the globe. It processes transactions worth over $180 billion per year for organizations such as Aviva, Cargill, Deutsche Lufthansa, General Motors, GlaxoSmithKline, IBM, Kellogg's, US Federal Government, Tesco and Whirlpool. Tungsten Corporation offers supply chain financing to suppliers on the OB10 network and will help organizations profit by applying innovative spend analytics to its vast repository of invoice data.

The PNC Financial Services Group, Inc. (www.pnc.com) is one of the United States' largest diversified financial services organizations providing retail and business banking; residential mortgage banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management.

CONTACTS:


PNC

OB10

Amy Vargo

Sandra Higgison 

(412) 762-1535

+44 20 7406 5772

[email protected]  

[email protected]

SOURCE PNC Bank

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Did you know that you can develop for mainframes in Java? Or that the testing and deployment can be automated across mobile to mainframe? In his session at @DevOpsSummit at 20th Cloud Expo, Vaughn Marshall, Sr. Principal Product Owner at CA Technologies, will discuss and demo how increasingly teams are developing with agile methodologies using modern development environments and automating testing and deployments, mobile to mainframe.
The goal of Continuous Testing is to shift testing left to find defects earlier and release software faster. This can be achieved by integrating a set of open source functional and performance testing tools in the early stages of your software delivery lifecycle. There is one process that binds all application delivery stages together into one well-orchestrated machine: Continuous Testing. Continuous Testing is the conveyor belt between the Software Factory and production stages. Artifacts are ...
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
SYS-CON Events announced today that CA Technologies has been named "Platinum Sponsor" of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and 21st International Cloud Expo, which will take place in November in Silicon Valley, California.
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
NHK, Japan Broadcasting, will feature the upcoming @ThingsExpo Silicon Valley in a special 'Internet of Things' and smart technology documentary that will be filmed on the expo floor between November 3 to 5, 2015, in Santa Clara. NHK is the sole public TV network in Japan equivalent to the BBC in the UK and the largest in Asia with many award-winning science and technology programs. Japanese TV is producing a documentary about IoT and Smart technology and will be covering @ThingsExpo Silicon Val...
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory?
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists will examine how DevOps helps to meet th...
SYS-CON Events announced today that Hitachi Data Systems, a wholly owned subsidiary of Hitachi LTD., will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City. Hitachi Data Systems (HDS) will be featuring the Hitachi Content Platform (HCP) portfolio. This is the industry’s only offering that allows organizations to bring together object storage, file sync and share, cloud storage gateways, and sophisticated search an...
SYS-CON Events announced today that Hitachi, the leading provider the Internet of Things and Digital Transformation, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Ltd., offers an integrated portfolio of services and solutions that enable digital transformation through enhanced data management, governance, mobility and analytics. We help globa...
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTred processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.
Blockchain is a shared, secure record of exchange that establishes trust, accountability and transparency across supply chain networks. Supported by the Linux Foundation's open source, open-standards based Hyperledger Project, Blockchain has the potential to improve regulatory compliance, reduce cost and time for product recall as well as advance trade. Are you curious about Blockchain and how it can provide you with new opportunities for innovation and growth? In her session at 20th Cloud Exp...
Cloud promises the agility required by today’s digital businesses. As organizations adopt cloud based infrastructures and services, their IT resources become increasingly dynamic and hybrid in nature. Managing these require modern IT operations and tools. In his session at 20th Cloud Expo, Raj Sundaram, Senior Principal Product Manager at CA Technologies, will discuss how to modernize your IT operations in order to proactively manage your hybrid cloud and IT environments. He will be sharing be...
While some vendors scramble to create and sell you a fancy solution for monitoring your spanking new Amazon Lambdas, hear how you can do it on the cheap using just built-in Java APIs yourself. By exploiting a little-known fact that Lambdas aren’t exactly single threaded, you can effectively identify hot spots in your serverless code. In his session at 20th Cloud Expo, David Martin, Principal Product Owner at CA Technologies, will give a live demonstration and code walkthrough, showing how to o...
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, discussed the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docker c...