First Invoice Sent and Received Over the US Digital Business Networks Alliance Open Exchange Network

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HOUSTON, March 26, 2024 /PRNewswire/ -- The Digital Business Networks Alliance (DBNAlliance), a nonprofit organization that serves as the legal entity overseeing the US open Exchange Framework, today announced that the first invoice has been sent and received over the network. The first invoice exchange occurred between two DBNAlliance service providers — Avalara and Storecove.

Metadata

Provider:

PR Newswire

Retrieved on:

Tuesday, March 26, 2024

Information

Tags:

Member, Information superhighway, Online shopping

Geotags:

TEXAS, MEXICO, CANADA, NETHERLANDS, US

Organisation:

DIGITAL BUSINESS NETWORKS ALLIANCE

Summary

Key Points:

The Digital Business Networks Alliance reached an important milestone on March 5, 2024, when the first invoice was successfully transferred via the US open exchange network.
HOUSTON, March 26, 2024 /PRNewswire/ -- The Digital Business Networks Alliance (DBNAlliance), a nonprofit organization that serves as the legal entity overseeing the US open Exchange Framework, today announced that the first invoice has been sent and received over the network.
The transaction was executed from Avalara's E-Invoicing and Live Reporting solution leveraging the DBNAlliance Exchange Framework for message transfer, process descriptions, and document content exchange.
"After years of preparation, the DBNAlliance exchange network now serves as an efficient and reliable network for many businesses to seamlessly exchange e-documents within the U.S., Canada, and Mexico.

First Invoice Sent and Received Over the US Digital Business Networks Alliance Open Exchange Network

The Digital Business Networks Alliance reached an important milestone on March 5, 2024, when the first invoice was successfully transferred via the US open exchange network.

HOUSTON, March 26, 2024 /PRNewswire/ -- The Digital Business Networks Alliance (DBNAlliance), a nonprofit organization that serves as the legal entity overseeing the US open Exchange Framework, today announced that the first invoice has been sent and received over the network. The first invoice exchange occurred between two DBNAlliance service providers — Avalara and Storecove.

Storecove received the invoice, issued by Avalara. The transaction was executed from Avalara's E-Invoicing and Live Reporting solution leveraging the DBNAlliance Exchange Framework for message transfer, process descriptions, and document content exchange. The invoice was successfully transferred and imported by Storecove's e-invoicing and reporting solution, where it was processed and is now ready to be paid.

"This is an exciting milestone for the DBNAlliance and for e-invoicing in the US and beyond," said Chris Welsh, Chair of the DBNAlliance. "The DBNAlliance makes it easier to conduct business across the US, as well as internationally, and we look forward to enabling businesses from any industry to electronically exchange their invoices and other supply chain documents moving forward. Our goal is to have over a thousand companies using the exchange framework before the end of the year."

Today, DBNAlliance has more than 35 members and is actively recruiting new members. Companies interested in connecting to the exchange framework can do so through a DBNAlliance access point service provider. The initial focus of the DBNAlliance is on registering U.S. businesses in the energy, supply chain, life sciences, and financial industries, but businesses from other industries are also encouraged to join.

"It's with great pride that Avalara was able to be the first service provider to successfully issue an e-invoice on the DBNAlliance Exchange Framework," said Alex Baulf, VP of E-Invoicing at Avalara and DBNAlliance Board of Directors member. "Our global e-invoicing and live reporting solution is ready to support businesses that want to leverage the DBNAlliance B2B Digital Highway to streamline their invoicing processes."

"Hard work brings great results", said Dolf Kars, CEO at e-invoicing provider Storecove and DBNAlliance board member, Chairing the Membership and Market Adoption Committee. "After years of preparation, the DBNAlliance exchange network now serves as an efficient and reliable network for many businesses to seamlessly exchange e-documents within the U.S., Canada, and Mexico. The successful transmission of this invoice from the U.S. to the Netherlands highlights the network's ability to facilitate intercontinental exchanges. Looking forward, billions more invoices are anticipated in the years ahead."

For DBNAlliance service providers, the framework facilitates the connection of buyers and suppliers, simplifying a supplier's connection and ensuring that connection meets their customers' business rules. The framework enables access point service providers to enroll more suppliers onto their network, providing greater supply chain engagement for their buyer clients and improving straight-through processing. Service providers can become a full member of the DBNAlliance, which comes with an official DBNAlliance certificate.

To learn more about how your organization can connect to the exchange framework, please click here.

About the Digital Business Networks Alliance

The Digital Business Networks Alliance is an independent, tax-exempt company (501(c)6) that oversees the e-invoicing exchange network in North America. The Digital Business Networks Alliance's goal is to support the delivery of electronic business documents between service providers and businesses. The Digital Business Networks Alliance accomplishes this by leveraging a highly secure exchange network based on a set of open, non-proprietary technical standards and policies that allow businesses to discover and deliver data virtually to one another. For more information, visit https://www.dbnalliance.org/.

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SOURCE Digital Business Networks Alliance