STP concept in the function of increasing efficiency and effectiveness in the Rapp Marine Group

Abstract

Straight-Through Processing appeared as a response to problems surfacing in the conditions of the insufficient connectedness of pieces of information from trading and financial flows. The application of the STP concept is most important in international trading because all the shortcomings of an insufficient integrity are especially emphasized in that particular case. In traditional conditions, international trade is characterized by numerous manual activities, a large number of intermediaries and documentation, lack of documentation and big losses. Standardization of electronic documents is very important to ensure their flow between partners within the financial supply chain. E-invoicing is a concept that cannot be implemented independently of other processes in the company, and precondition for proper and full implementation of e-invoicing is definitely high quality of the procurement process.