Trade body the International Accounts Payable Professionals (IAPP) recently released a study on invoicing management at global companies, and found that most companies still have at least some manual aspect to their invoicing process. However most companies do now recognize the value of electronifying and automating invoicing, according to the survey.

It found that 80 percent of companies’ accounts payable (A/P) departments saw the advantage of automating invoices, but they also cited many obstacles in the way of uptake.

Global subsea equipment manufacturing and service company DOF Subsea has selected IT2 to provide a centralized treasury management system for the enterprise. The company will make use of IT2’s solutions for cash forecasting; liquidity management; risk management and hedging programs for foreign exchange and interest rate exposures; debt management; and treasury accounting; among other things.

DOF Subsea will access the system through IT2 NET—the system provider’s web portal, and the solution will interface with the company’s counterparties and third-party solution providers—including Nordea Bank, Agresso—for accounting; the Shipnet solution for A/P and A/R management; and Reuters.