X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

In 2004, when Don Davis embarked on an XML-based payments pilot involving U.S. semiconductor maker Intel Corp. and Finnish cell phone manufacturer Nokia Corp., he would have readily admitted that he had modest expectations about when Intel would enjoy significant benefits. At the time, the proposed standard built around extensible markup language (XML) represented the latest effort at bringing straight-through processing to b-to-b payments, and Davis, Intel’s systems and business solutions manager and a veteran of earlier supply chain automation attempts, figured it would take at least a year to realize respectable success at matching incoming data to payments with the new global messaging standard. But ISO XML–as it came to be known after its publication by the International Standards Organization last summer–surprised Davis, and right from the start, he reports, he was matching a stunning 80%. “My expectations were 30% initially and then growing that rate to 80% as we gained experience setting up the match parameters,” Davis notes. Instead, “the pilot started at 81.5% and has grown to more than 95% auto-matching today.”

Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.