The Digital Business Networks Alliance reached an important milestone on March 5, 2024, when the first invoice was successfully transferred via the U.S. open exchange network. Facilitated by Avalara and Storecove, two certified DBNAlliance service providers, this achievement highlights the network’s effectiveness in facilitating smooth business transactions across the United States.
In this transaction, Avalara initiated the invoice, which was then received and processed by Storecove utilizing the DBNAlliance Exchange Framework. The successful transmission underscores the reliability and efficiency inherent in the network, establishing a promising precedent for forthcoming document exchanges.
Chris Welsh, Chair of the DBNAlliance, commended this milestone, expressing enthusiasm for onboarding numerous companies onto the exchange framework, with a target of over a thousand participants by year’s end.
Over 35 members already on board
With over 35 members already on board, the DBNAlliance is actively inviting new participants, especially from sectors such as energy, supply chain, life sciences, and finance. However, businesses from all sectors are encouraged to join the Digital Business Networks Alliance.
Representatives from both Avalara and Storecove highlighted the preparedness of their solutions to assist businesses in connecting to the new U.S. based open exchange framework.
“Billions more transactions expected.”
In the future, Dolf Kars, CEO of Storecove and a member of the DBNAlliance board, foresees a significant increase in invoice exchanges through the network, with billions more transactions expected. This positive outlook emphasizes the network’s ability to facilitate not just local but also international transactions, showcasing its adaptability and effectiveness on a global level.
For service providers, the DBNAlliance framework streamlines connections between buyers and suppliers, enhancing supply chain engagement and speeding up invoicing processes. Companies interested in utilizing the exchange framework are encouraged to explore further information on the DBNAlliance website, ensuring seamless integration and active participation in this transformative digital ecosystem.
Conclusion
In conclusion, the DBNAlliance’s achievement marks a substantial leap in the digital evolution of business operations, offering improved efficiency and reliability in electronic document exchange not only across North America but also extending its benefits globally.
Become a member of the DBNAlliance
This new exchange network, backed by various industry bodies, allows businesses to connect once, and share electronic documents with one another, regardless of the platform, system, application or network used for processing documents. Participants can easily find their business partners on the exchange network, facilitating seamless connectivity.
If you’re tired of the lack of interoperability and wish to contribute to making invoicing simpler, faster, and more accessible for businesses in the United States, we encourage you to register as a member of the DBNAlliance.
