Thursday 30th, January 2014

US Bank PNC, has expanded automation of its procure-to-pay process through electronic invoicing capabilities with OB10, part of Tungsten Corporation plc.

PNC is the first commercial bank in the United States to integrate OB10 with its invoice automation platform, for mid-size and large businesses. PNC helps customers to achieve straight-through invoice processing from invoice receipt to payment utilising 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.  

"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.  No hardware or software installations are required by suppliers.