Eximbills Enterprise ™ is an established global standard installed by many international banks to meet their trade services processing requirements. It combines a Rapid Application Development toolkit with a flexible base business model, providing support for Open Account, Supply Chain Finance, Factoring and Payments operations, aside from covering the full range of traditional Import and Export Trade Services.
China Systems customers can now benefit from the opportunities offered by SWIFTNet TSU, with Eximbills Enterprise offering advantages in open account-based trading never experienced before. With SWIFTNet TSU, banks can provide added risk mitigation services by having sufficient visibility on the transactional events from Purchase Order to Payment and parties involved. Besides the visibility TSU creates, it also allows matching and pre-matching of the trade details and keeps track of outstandings at Goods LineItem level, a previously labor-intensive and costly activity. Data reliability adds value to all the parties involved, and creates opportunities for banks to provide finance services at the different trigger points, such as PO Issuance/Acceptance, Shipment and Invoice Acceptance. Using the SWIFTNet TSU data, banks can also offer document preparation and reconciliation services on account payables and receivables, since they already handle the payments traffic.
In his official statement, Joel Schrevens, China Systems' Solutions Director, said: "With our Eximbills Enterprise solution, we are proud to be the first software provider, as recognized by SWIFT, to have integrated the TSU capabilities into a Trade and Payments back office solution. We are convinced that integration with existing back office capabilities and Open Account Finance offerings will provide our customers with the competitive edge necessary to retain existing and win new business customers. Corporate customers focus on payables and receivables, regardless whether they are processed on an Open Account, LC, or Collection basis, so a banking back office solution must reflect this with an integrated design to support an integrated global customer approach and consistent service offering."
Eximbills Enterprise can be used as a stand alone back office solution for TSU message handling if the bank's requirement is to utilize their existing Trade and Open Account platforms. However, Mr.
Schrevens emphasized, a truly integrated solution, whereby TSU message handling capabilities are embedded with Open Account business processing rules, in combination with our optional Payments module, will drastically increase STP and processing efficiency by enabling auto reconciliation of incoming funds with outstanding Open Account transactions.
Customer Enterprise, China Systems' J2EE- and web-based customer front end, allows buyers and suppliers to interact with the bank on Payments, traditional Trade, and Open Account Finance transactions, whether they are TSU or non-TSU based.
Mr. Schrevens added that "China Systems are now in the unique position of providing TSU messaging, Supply Chain Financing and Factoring capabilities as part of an integrated back office and customer front end J2EE based processing platform which, when complemented by our industry leading Import and Export Trade Services capabilities, provides a total international and domestic trade financing software solution. I believe there are exciting times ahead of us!"