JPMorgan Treasury Services today unveiled plans for a new financial outsourcing service designed to facilitate best practice management of the “financial supply chain.”
JPMorgan Treasury Services’ offering aims to provide CFOs and their teams with a range of information, integration, connectivity and execution capabilities aggregating services and applications from JPMorgan, third parties and client systems. Access to the service will be through a single web-based dashboard, acting as a gateway to treasury and cash management processes, in-house banking, forecasting analysis, risk analysis solutions, quote- to- cash and procure- to- pay functions as well as trade services.
“CFOs and their teams will benefit from a far more comprehensive suite of services covering the entire financial supply chain, which will enable them to achieve efficiencies in areas such as working capital, convert fixed into variable costs, reduce expenses and streamline operations,” says the bank. “JPMorgan Treasury Services’ service offering is based on comprehensive research carried out with JPMorgan’s customers, a Client Advisory Board specifically assembled for this project and in conjunction with external consultants. The new service addresses increasing pressures on financial supply chain managers to contribute more visibly to shareholder value. The finance function, the financial brainpower of a corporation, requires significant resources to effectively analyse risk, manage balance sheets and set policy.
Typically, much of the resource in finance is tied up with operations, systems and execution, rather than critical strategy development and implementation. Outsourcing non-core competencies releases valuable time and resources for more value-added activities. JPMorgan Treasury Services’ new offering will enable CFOs and their teams to both achieve economies of scale and focus on those functions that are critical for optimal financial performance.”
Anne Collard, Head of Europe Treasury Consulting, JPMorgan Treasury Services, added: “Our position as a global leader in financial services provision, coupled with our expertise and track record in technology and integration has enabled JPMorgan Treasury Services to develop an extremely sound and tested proposition based on extensive research into our clients’ needs. Ultimately, the service will extend full capabilities to financial supply chain managers, enabling them to channel all of their energy and resources into the strategic development of the corporation. Our clients stand to significantly benefit from what truly is a next-generation financial service provision solution.”