JPMorgan has enhanced its Web-based accounts receivable management application, Receivables EdgeSM, automatically matching open invoice records to bank captured payments and remittance detail, including checks, ACH and wire transfers.
JPMorgan becomes the first bank to offer a fully integrated online Web presentment application featuring invoice matching with same-day exception repair.
The enhanced Receivables Edge application has been called the best example of a fully leveraged integrated receivables solution by Celent Communications.
“With this enhancement, we are better able to assist clients in consolidating their receivables management and collection processes, allowing them to achieve operational savings with a modest implementation effort. As an industry leader, JPMorgan is committed to helping clients transition from paper to electronic channels and Receivables Edge is an enabling tool to that end,” says Brian Hinton, vice president, Receivables Business Development, JPMorgan Treasury Services.
JPMorgan developed Receivables Edge for organizations in manufacturing, distribution and service industries looking for a cost-effective alternative to licensed software to create an enterprise-wide view of all receivables transactions.