Many segments in agriculture are overdue for a solution to reduce time, resources and errors that stem from using inconsistent data formats to remit payment details. Electronic messaging, using the XML (Extensible Markup Language) specification as the standard format to remit data, ensures accurate and timely reconciliation of payment remittances between the sellers’ receivables systems and the buyers’ payables system. The Crop Nutrient segment is sponsoring this cross-council project to gain those efficiencies.
Get up to Speed with XML Remittance
Once a time and labor intensive, error-ridden manual process, transmitting payment remittance details will become fast, accurate and electronic with XML Remittance. The five companies that have committed to this project are: BASF Corporation; CF Industries; GROWMARK, Inc.; International Raw Materials; and Mosaic, Inc.
If you are interested in this project, please contact Marilyn Hunter (Marilyn.Hunter@AgGateway.org) at AgGateway.
XML Remittance Payment (XRP) Project: This project is sponsored by the Crop Nutrient Council to electronically send the payment remittance information from the buyers to the sellers. This project has completed phase 1 (design) and participants are in the development stage of phase 2. Those companies participating in this project: BASF, CF, GROWMARK, Inc., International Raw Material, and Mosaic Company.