XPL Smart Invoicing
XPL Smart Invoicing is an incredibly intuitive application that serves the full workflow of creating shipping orders to sending an invoice, and allows for a highly configurable, multi-layered approval process.
There are many inefficiencies around invoicing in logistics. The client has a high complexity of freight invoices and the verifications of these invoices are vulnerable to human and process errors. For DHL and its customers, this leads to high costs in solving invoice errors and disputes and eventually a poor customer experience. As a solution to this, DHL has introduced XPL. XPL is a system that uses smart contracts on a blockchain to ensure invoices that are right at the first time, confidential and trustworthy. However, the XPL system was lacking a proper application that would handle the workflow of creating orders, approving price proposals, and sending invoices.
Together with DHL, Finaps has developed the XPL Smart Invoicing application. Orders and price proposals can be created by DHL (the carrier) in the application, after which these will be sent to the client (the shipper). Depending on the details of the order and the price proposal, a specific approval process is initiated. In this process one or more employees of the shipper must provide a digital signature to this order before it can be shipped. Once the price proposal has been fully approved, it will be shipped, and an invoice will be sent to the shipper. The next step of this project would be to provide the communication to a blockchain mechanism where the orders are stored as smart contracts. Eventually, the XPL Smart Invoicing application will act as a mediator between several different carriers and shippers to ensure a confidential and trustworthy invoicing process.
Finaps enabled us to create an application that suits our business needs. In a limited amount of time, their Engineers have been able to incorporate our initial requirements, as well as challenge us to adjust course where necessary. Working together has been a great journey and we’re looking forward to continue our relationship for future developments, long term.
Eugenius Otte, Co-founder XPL