According to Wikipedia:
Straight Through Processing (STP) enables the entire trade process for capital markets and payment transactions to be conducted electronically without the need for re-keying or manual intervention, subject to legal and regulatory restrictions.
Simply put, the goal of STP is to enable electronic information that has been entered to be transferred from one party to another in the settlement process without manually re-entering the same pieces of information repeatedly over the entire sequence of events.
Shortening transaction-related processing time, STP provides for reductions in settlement risk by increasing the probability that a contract or an agreement is settled on time, while optimizing the speed at which transactions are processed.
eBILIS® Global EIPP delivers on this concept without traditional integration or the constraints imposed by standards, file formats, file transmission types or dependencies on networks.