J.P. Morgan (New York) launched its enhanced Web-based accounts receivable management application, Receivables Edge in the Asia Pacific region. With this new product, J.P. Morgan says it 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.
Receivables Edge provides a receivables management tool that enables J.P. Morgan 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.
The Receivables Edge proprietary online browser combines data capture and processing technology with 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 dashboard home page, according to the bank.
"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," said Linda McLaughlin-Moore, managing director of Product Management and Delivery for J.P. Morgan Treasury Services Asia Pacific, in a statement. "The solution also helps in better management of working capital, which has become an area of focus for many organizations given the current market conditions."