Cyclone launches Payment Activity Monitoring
11 October 2004 | 345 views | 0
Source: Cyclone Commerce
Cyclone Commerce has launched its new solution, Payment Activity Monitoring that correlates and monitors payment transactions across multiple points of potential failure, providing automated alerts before a payment fails.
The B2B solution includes Cyclone’s secure file transfer application and is designed for financial institutions and corporate treasury departments to streamline and provide visibility in the payments process. This can enable higher levels of customer service and compliance with service level agreements. The solution is also designed to help corporations to more effectively manage liquidity by providing real-time visibility and alerting to potential problems.
"Payment Activity Monitoring enables financial institutions to accurately monitor the progress of payment instructions in real-time, effectively reducing the time between the payment’s due date and the initiation of the payment instruction," says Brenden O’Connor, general manager, financial service solutions for Cyclone Commerce. "The benefits include optimised cash management due to increased process visibility, and improved payment transaction efficiency through SLA enforcement."
Payment Activity Monitoring provides the capability to track and locate each payment, remittance, and other transactions through communication gateways, translators, and back-end systems in real-time. Secure File Transfer, with built-in community management features, lets organisations consolidate disparate gateways into a centralised system.