The Time is Now: Preparing for the E-Invoice Exchange Framework

Businesses will soon have an opportunity to make meaningful progress towards business-to-business (B2B) payments modernization. A key first step in this process is supporting an exchange framework, or a standardized set of policies and guidelines that allow businesses to exchange with anyone on a network after connecting once (like email), with minimal changes to systems. The Business Payments Coalition and the Federal Reserve Banks are progressing toward creating an e-invoice exchange framework through a pilot in 2022 that’s scheduled to be operational in 2023. In addition, they are advancing industry work on the establishment of a remittance exchange framework that will operate on the same principles.

Corporations can begin preparing now for this exchange framework, but they’ll first want to hear insights from others along the journey. Join this session to hear e-invoice pilot members discuss the benefits of an exchange framework and lessons learned on how businesses can prepare for adoption. Your organization will want to hear how it can modernize B2B payments and reap the associated benefits such as lower costs, better cash management, and reduction in errors.

Anna Tujunen
Chief Product Office, Dooap, Inc.

Anna Tujunen, Dooap's Chief Product Officer, is a former controller now developing software “from an AP professional to an AP professional”. She is also a member of the Business Payments Coalition e-Invoice Work Group. This well-versed AP guru loves traveling and music quizzes.

Michael Jasper
Executive Vice President, Velocity Procurement

Michael has spent the past 22 years working with organizations to enable and implement enterprise technology in the ERP, accounts payable / receivable, and global compliancy verticals. He has helped companies of all sizes and industries improve their practices and achieve best in class status. In addition to his day job, Michael brings these skills to his position on the Leadership Committee of the Business Payments Coalition (BPC), a volunteer group supported by the US Federal Reserve who work to make B2B electronic payments more efficient across the end-to-end process.

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 initiatives with industry stakeholders in B2B payment efficiency, standards, and electronic invoicing.  He is the convener of the Business Payments Coalition e-Invoice Market Pilot Work Group.  He is also member of several standard development organizations, including: ASC X9, ASC X12, ISO 20022 – Payments Standard Evaluation Group and 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.

Josh Barrett
Director, IOFM

Josh Barrett joined the Institute of Finance & Management (IOFM) in 2017 has served as the organization’s executive director since 2020. His is responsible for management of IOFM’s Membership and Certification, its virtual and in-person events, and its demand generation offerings.

Josh is committed to ensuring that IOFM is the premier provider of training and education for financial operations professionals, working closely with a team of content developers, industry leaders and subject matter experts.

Prior to joining IOFM, Josh spent 20 years working in marketing and advertising with companies including L.L.Bean, Globe Manufacturing, the Maine Office of Tourism and Bentley University.