Ocean Shippers Turning to e-Invoicing

Press Release
Thursday, February 21, 2013

INTTRA release study findings that show 81% of surveyed ocean shippers look to cut costs through e-Invoicing in 2013.

The findings were based on a global study of high-volume shippers and freight forwarders that included 4 of the top 5 global logistics providers.

Four years of economic volatility have intensified pressure on carriers and shippers to seek new ways to reduce costs and have seen no relief on pressure to increase service levels. One cost reduction method that has demonstrated results across government and commercial sectors is electronic invoicing (e-Invoicing). Once referred to simply as a “best practice,” e-Invoicing is emerging as a critical cost reduction tool for companies in or those impacted by the struggling ocean shipping industry.

The 2012 global study found that:

  • 81% of respondents want to receive invoices electronically in 2013.
  • 77% rate “managing disputes” as their greatest invoicing challenge, with reducing the “time and cost to process invoices” as a close second at 68%.
  • The top 10 country e-Invoicing launch preferences for shippers include the United Kingdom, China, the Netherlands, United States, Germany, Singapore, Australia, France, Hong Kong and Italy.

"Invoicing, dispute resolution and payment processes are highly fragmented across the industry and represent a significant area of cost and inefficiency,” said Otto Schacht, Executive Vice President of Sea Logistics at Kuehne + Nagel, one of the world’s largest freight forwarders. “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, all of which save time and resources."

Survey Methodology
INTTRA’s 2012 e-Invoicing survey participants included more than 30 high volume ocean shippers and freight forwarders, including 4 of the top 5 freight forwarders in TEU volume. The survey was conducted through the fall of 2012 via one-on-one interviews and electronic surveys with Director and above executives from Commercial, IT and Finance.

 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Technology

Wärtsilä REvolution system takes sealing technology to New Level

The new Wärtsilä REvolution system is a digital management system that controls, monitors, records and analyses the performance of seals autonomously in real time,

Fuel Consumption, Emissions Monitoring Software Updated

As part of the ongoing Blue Star Delos Renewable Energy Innovation Project, Eco Marine Power (EMP) stated that the Aquarius Management & Automation System (MAS)

MSC Invests in TRAXENS Container Monitoring

MSC Mediterranean Shipping Company has reached an agreement to back French start-up TRAXENS, a developer of cargo logistics solutions and creator of a container monitoring and coordination system.

Software Solutions

Buy and Sell Vessels from a Mobile Device

The maritime software development company SDSD are launching a new web based VSnP - Vessel Sale and Purchase module, enabling Sale and Purchase brokers to buy and

Wärtsilä REvolution system takes sealing technology to New Level

The new Wärtsilä REvolution system is a digital management system that controls, monitors, records and analyses the performance of seals autonomously in real time,

MOL Makes Fleet-wide Migration to Fleet Xpress

Fleet Xpress will deliver data intelligence to drive smarter and greener shipping operations   26 July 2016: Inmarsat (LSE:ISAT.L), the leading provider of global

Logistics

New Container Facility at Krishnapatnam Port

Krishnapatnam Port, India's largest all-weather; deep water port on the east-coast of India has inaugurated CONCOR’s - Port Side Container facility – a Government of India undertaking.

China Joins UN Trucking Treaty

China has taken a major step towards establishing a speedy new "Silk Road" to Europe by signing up to a U.N. trucking treaty.   Fifteen years after joining the World Trade Organization (WTO),

Gulf Petrochem Group Expands European Bunker Operations

Gulf Petrochem Group, the UAE based global bunker supplier, has announced that it is now officially offering physical bunker supply in the port of Rotterdam, out of its new office based in Dordrecht.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0768 sec (13 req/sec)