ABN AMRO is extending its web-based collection services to Venezuela, Chile, Uruguay and Paraguay, beginning in June.
ABN AMRO already provides Argentina, Mexico and Colombia with automated tools to collect and manage their incoming funds in multiple payment formats and currencies.
Timely, detailed information about incoming funds ensures rapid reconciliation of accounts, enabling companies to manage their accounts receivable efficiently and reduce days payable outstanding (DPO),” said Claudio Migliore, Head, Transaction Banking for Spanish Latin America at ABN AMRO.
ABN AMROs Collection Services provide automated reconciliation and matching modules, cash flow forecasting and consolidated reporting to integrate the information directly into clients ERPs. For example, authorised users can access consolidated positions by debtor at any time, from any location.
Other features of the service include electronic bill presentation and payment capabilities; pre and post collection services, including confirmation of receipt of invoices and dispute resolution; funds collection (including details of cash and cheques deposited at ABN AMRO or partner banks); cheque collection service; and B2B electronic payments; consolidation of multi-bank reports.