Tieto to provide e-invoicing service over SWIFT

Tieto Corporation PRESS RELEASE 23 September 2011 at 3.15 pm EET

Tieto, Nordea and Bottomline Technologies have taken a further step in order to expand the reach for their e-invoicing customers. Bottomline Technologies and Tieto are now exchanging e-invoices using ISO 20022 Financial invoice content standard and SWIFT's network. Invoices will be sent from Tieto further via Nordea to the receiving customer Stora Enso Finland.

In addition to the role of an e-invoicing service provider, Tieto acts as a SWIFT Service Bureau and is thus able to provide SWIFT connectivity to any interested corporate customer - for both Cash management and trade finance services.

Within the financial services industry, Nordea is the forerunner of providing e-invoicing services to corporate users.  Nordea and Tieto have a long lasting co-operation in e-invoicing services and this new connection opens remarkable new possibilities and strengthens their services to their customers.

André Casterman, Head of Cash, Trade and Supply Chain, SWIFT, states:" We believe a true four-corner model based on open standards is the only viable way forward. It is important that corporates can work with their chosen e-invoicing provider, and then the providers create interoperability. The first users of our solution for e-invoicing demonstrate that SWIFT can bridge banks and non-bank e-invoicing service providers across the borders. With the ISO 20022 Financial invoice standard e-invoices also connect to payments and financing services".

Masood Arai, Nordic Head of Payment and Collection Services, Nordea, emphasizes the importance of joining forces. "This is a remarkable milestone in e-invoicing as it shows what can be achieved via true cooperation and the possibilities in terms of e-invoicing customer offerings. The main goal of reaching for new opportunities is to enable better customer services and create great customer experiences."

Tapani Turunen, responsible for e-invoicing product area in Tieto, regards this clear evidence of the well-established and true interoperability based on international standards. "We see this new opportunity a real advantage for internationally operating corporates. E-invoicing based on existing global and secure network and international message standard builds good foundation for e-invoicing fast deployment."

For further information, please contact:

Tapani Turunen, e-invoice Product area responsible at Value Networks, Tieto
Tel: +358 400 725 958, tapani.turunen@tieto.com

André Casterman, Head of Cash, Trade and Supply Chain, SWIFT
Tel: +32 474 994028, andre.casterman@swift.com 


Principal media

Tieto is the leading IT service company in Northern Europe providing IT and product engineering services. Our highly specialized IT solutions and services complemented by a strong technology platform create tangible business benefits for our local and global customers. As a trusted transformation partner, we are close to our customers and understand their unique needs. With about 18 000 experts, we aim to become a leading service integrator creating the best service experience in IT. www.tieto.com

Published on: 
23 September 2011