Bonaire Software Solutions, LLC today announced the release of its new PAYPORT Payment Matching software module.
PAYMENT MATCHING is an optional, add-on module that is fully integrated with PAYPORT. It uses Bonaire's proprietary rules engine to automate lockbox feeds or Treasury uploads of client payments to be matched to accounts with open invoices.
"Bonaire's PAYPORT, designed specifically for the Asset Management industry, provides a robust and flexible enterprise solution for managing customer receivables and payments. PAYPORT enables our clients, including 11 of the top 20 Asset Managers, to streamline their customer fee payment processes resulting in significant cost savings and return on investment," said John Bosley, C.O.O. of Bonaire Software Solutions, LLC.
"The new PAYMENT MATCHING functionality is integrated into Bonaire's PAYPORT allowing for scalability, flexibility, and growth. Our functionality is unlike any other offering in the asset management space today because it includes a rules-based auto payment matching by bank source capability. The user interface and application configuration is greatly simplified for the specific needs of the financial markets we target. The application is very intuitive, is web browser based, and is offered at a fraction of the cost of other mainstream Payments and Collections applications," said Bosley.
* Significantly lower cost than other large vendor products
* Proven and in use by some of the top asset managers in the U.S. and Europe
* Reduces manual payment matching
* Improves cash application and cash receipt projections
* Improves asset turns