This is the first unified common system for electronic invoice management between Norwegian companies.

"Companies will enjoy new and better daily routines with this solution", says Geir Guthus, Manager, EDB IT Operations.

The objective is for this system to be used for all invoicing between companies in Norway in due course, with all Norwegian banks joining the system.

 

The system will manage the flow of invoices between companies in an efficient, reasonably priced and secure way.

 "The solution will operate as a contact point between issuers and recipients of invoices in the corporate market. Electronic invoice traffic will flow to and from the internet banking accounts of both issuers and recipients of invoices via this contact point", explains Rune Fjeldstad, Executive Vice President, Cash Management/Product Development at DnB NOR.

According to EDB's calculations, companies can benefit from costs savings of more than 50% by using the new solution.

 

"The solution will make it easy for companies to monitor and manage invoices received. A further advantage is that the electronic system will include all issuers and recipients of invoices, and this will reduce the workload for companies", explains Rune Fjeldstad.

It will be possible to link the new system directly to company accounting systems. This means that companies which currently incur considerable costs in scanning and other processing of invoices will be able to make major cost savings.

 

"The e-invoicing solution will initially be available to companies that bank with DnB NOR or already use invoicing services from EDB Business Partner, but it will also be available to other banks interested in joining the system", says Geir Guthus.

DnB NOR and EDB Business Partner have signed a letter of intent for this solution and intend to sign a final agreement in the near future. The new solution is expected to be in operation from the second quarter of 2006.

 

Geir Guthus, Manager, EDB IT Operations. Tel: +47 900 51 043

Geir Remman, Executive Vice President, Corporate Communications and Marketing, EDB.

Tel: +47 970 55 017

Rune Fjeldstad, Executive Vice President, Cash Management/Product Development,

DnB NOR. Tel: +47 908 91 784

Morten Skauge, Communications Officer, DnB NOR. Tel: +47 959 79 297