JP Morgan today announced the launch of its enhanced Web-based accounts receivable management application, Receivables Edge in the Asia Pacific.
With this new product, J.P. Morgan becomes the first bank in Asia Pacific to offer a fully integrated Web presentment solution featuring invoice matching with same-day exception management, tracking and repair.
J.P. Morgan's Receivables EdgeSM provides an integrated receivables management tool that enables the firm to automatically and manually match open invoice records to bank captured payments, including electronic and paper payments. The solution was first developed for the manufacturing, distribution and service industries in the U.S. to provide a cost-effective solution for receivables management.
"With Receivables Edge, J.P. Morgan is able to assist clients in consolidating and better understanding their receivables management and collection processes through sophisticated trend analysis, enabling significant operational savings," said Linda McLaughlin-Moore, managing director of Product Management and Delivery for J.P. Morgan Treasury Services Asia Pacific. "The consolidated view of receivables creates numerous efficiencies, including better exception management and enhanced information to understand receivable flows and identify delays across currencies and geographies. The solution also helps in better management of working capital, which has become an area of focus for many organisations given the current market conditions."
The Receivables EdgeSM proprietary online browser combines advanced data capture and processing technology with the power of the Internet to deliver a consolidated and timely view of electronic and paper remittance information directly to client desktops. All payment activity is merged into a single repository that can be navigated from a convenient dashboard home page.
According to independent research firm Celent Communications, J.P. Morgan's Receivables EdgeSM is the best example of a fully leveraged integrated receivables solution with an ideal blend of technology, workflow automation, client sellf-service and receivables outsourcing.