BMO ePurchasing Solutions, a division of the Bank of Montreal, has launched a new Web-based platform for business-to-business procurement.
BMO FlexPort enables buyers and suppliers to electronically process purchase orders and settle payments in different technology formats.
The platform combines electronic purchase and payment instructions, such as order delivery, acknowledgement and shipping notification, multiple payment methods and advanced reporting. In addition, BMO FlexPort also electronically maps back to suppliers' ERP (enterprise resource planning) systems.
Randy Ford, director of BMO ePurchasing Solutions, says: "FlexPort acts as a gateway that translates file formats, allowing both buyers and sellers to use their preferred format."
The bank is rolling out the B2B procurement service to companies across Canada and the United States. Wainbee Limited., an industrial automation distributor, has signed up to use FlexPort to obtain credit card authorisation and settlement and enhanced data delivery to support its customers.