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, praised this achievement, noting his eagerness to bring many companies onto the exchange framework. The goal is to have over a thousand participants by the end of the year.
Over 35 members already on board
Over 35 members have already joined the DBNAlliance, which is now actively seeking new participants from sectors like energy, supply chain, life sciences, and finance. The alliance welcomes businesses from all industries to become part of the Digital Business Networks Alliance.
Both Avalara and Storecove representatives emphasized the readiness of their solutions to help businesses connect to the new U.S.-based open exchange framework.
“Billions more transactions expected.”
Looking ahead, Dolf Kars, CEO of Storecove, Board of Directors member and Chair of the Memebrship & Marketing adoption committee of the DBNAlliance, predicts a substantial increase in invoice exchanges through the network, with billions more transactions anticipated. This optimistic forecast highlights the network’s capability to support both local and international transactions, demonstrating its flexibility and efficiency worldwide.
For service providers, the DBNAlliance framework simplifies the connections between buyers and suppliers, improving supply chain engagement and expediting invoicing processes. Companies interested in using the exchange framework are encouraged to visit the DBNAlliance website for further information to ensure seamless integration and active involvement in this transformative digital ecosystem.
Conclusion
In conclusion, the DBNAlliance’s success represents a major advance in the digital evolution of business operations, providing enhanced efficiency and reliability in electronic document exchange across North America and around the world.
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