How the Exchange Framework Is Achieving Greater Automation in Finance

In the U.S., challenges and barriers have prevented greater adoption of electronic invoicing and the advancement of automation between buyers and sellers, as well as their respective systems, platforms, and service providers. In response, the Business Payments Coalition successfully launched the Exchange Framework, which is a set of technical standards and policies that enable businesses to share electronic invoices with each other, regardless of their accounts payable or accounts receivable system, network, platform, or application used. This webinar will cover:

• How the Exchange Framework breaks down the barriers that have prevented the adoption of e-invoicing
• How it simplifies the connection process for delivering e-invoices
• How it results in increased payments efficiency, security, and cost reduction through an open delivery network.

Todd Albers
Sr. Payments consultant, Federal Reserve Financial Services, Federal Reserve Bank of Minneapolis

Todd joined the Federal Reserve Bank in 2016, where his duties include research and coordinating with initiatives with industry stakeholders in B2B payment efficiency, standards, and electronic invoicing. His is the convener of the Business Payments Coalition e-Invoice Market Pilot Work Group. He also participates in several standard development organizations, including:

• ASC X9
• ASC X12
• ISO20022 – Payments Standard Evaluation Group
• OASIS – Universal Business Language (UBL) and Business Document Exchange (BDXR) Technical Committees

Todd’s background includes 20+ years in the Financial Services and Technology Industry; where he was responsible for strategy and new product development for products including electronic accounts payable (EAP), electronic invoice presentment and payments (EIPP), commercial credit cards, and expense report management solutions. Also, he has experience in business process reengineering and deploying ERP solutions supporting the procure-to-pay process in manufacturing.

Grace Chlosta
Content Manager, IOFM

Grace Chlosta joined the Institute of Finance & Management (IOFM) in 2022 in a new role for the team as the Content Manager. She is responsible for the planning, organization, development, and implementation of all the content for IOFM’s digital products and (virtual and in-person) events. Grace is committed to ensuring that IOFM’s content stays timely, relevant, and actionable for all financial operations professionals, and works closely with a team of content developers, industry leaders, and subject matter experts to guarantee this happens.