The firm of J.P.Morgan and Chase is well reputed in the field of cash management, business solutions, financing and investment solutions. The wing of J.P.Morgan Treasury serves to help Treasury professionals meet the demanding needs of cash management, liquidity and trade required in any business. The services encompass Global trade and logistics, Commercial cards, financial solutions for the public sector and healthcare providers, investment management and electronic paying services, Liquidity management, efficient online payment security and electronic access of information. The organization has been recently hailed as the best bank in North America for payments and collections, with its highly efficient payment services catering to a wide range of business set-ups.
Need:
Any business organization has an extensive network of expenditure and financial transactions in the different verticals of its set-up, with highly qualified management techniques required to ensure timely transactions and record maintenance. More often than not, overhead payment checks and security of payments made are all concerns of small, medium and large business enterprises. All concerns regarding payment and cash management can now be eliminated with J.P.Morgan Chase providing state of the art technology that eases the burden of tracking payments and availing technological assistance to manage cash and in particular, payables. Cash management at its highest level of quality is the motto of the organization.
Summary:
site: www.paymentnet.com
With the facilities like check disbursement, timely transactions with automated clearing house, commercial cards, cross-currency payments, debit cards and payment fraud detection services, the credibility of their cash management system is only reinforced. In particular, the commercial cards services are reviewed here, with an objective to throw light upon the sweep of the service. For various kinds of business expenditure, like supplies, operational expenditure, maintenance and up-gradation, travel expenses and other bills, the commercial cards have turned out into the most preferred mode of transaction.
The firm offers unique commercial card solutions offering quality payment solutions and expenditure management. Advanced technology that provides ample support to the business organizations in the realms of cash management and payment organization is a salient feature of JP Morgan Chase. Different commercial card types to suit the different set-ups of each business organization are offered, for example-the One Card which manages purchasing, travel and payments in one program for larger businesses, the Expansion services which provide expenditure analysis and also future recommendations for efficient savings and the commercial card classic which consolidates a host of services into one single card for those business organizations whose yearly expenditure does not cross 10 million$.
All these card programs are managed effectively and reports are drawn up comprehensively on all the card programs offered by J.P.Morgan chase with the help of the technology in-built in the PaymentNet. It is essentially an effort-reduction technology employed by the firm to provide quality management services of the different card programs providing manifold expenditure management, generally in the procure-to-pay systems. The procure-to-pay systems provide transparency in the entire process of a transaction and are multi-step processes requiring equally sophisticated administration at each level of transaction movement.
Advantages:
The PaymentNet technology helps the business organizations to control the expenditure at various outlets and simplify the process of administration at the different levels of the procure-to-pay process. The process is converted into a smooth flow, with a single system that is simple to implement. The time-devouring tasks of drawing up plans for spending, with extensive records of simple transactions made multiple times every day are all transformed into automated processes occurring in a single step with the incorporation of the PaymentNet services.
Also, before the cycle of a transaction is ‘kick-started’, the internal administration and cash flow are also controlled with the help of PaymentNet, with facilities to fulfill the needs of the administrators as well as the business organizations owning the commercial cards.
Once the transaction is triggered, PaymentNet once again jumps into action providing quality services such as transaction reconciliation, advanced expenditure reporting systems and speed up the process of flow of the transaction from one vertical to another.
Also, this technology serves to integrate the cards and its expenditure records into the general ledger and other systems of the business user to provide customized report analysis and instant access to the detailed payment transactions. Data integration with the ERP systems of the organization is a feature of PaymentNet.
With a single click of the mouse, a cascade of transaction monitoring and up-to-date expenditure records is triggered, providing expert analysis of the card programs and their efficiency in managing the cash/transactions of the user.
With the PaymentNet technology, the business organizations may avail many additional services too, like ordering the facility of a new commercial card, avail detailed reviews of transactions and identify any discrepancy in the payments, utilize the extensive reports, analysis and recommendations by the PaymentNet technology regarding payments and transactions for a clearer financial forecast. The user is facilitated with a better decision-making in the transactions with the help of the detailed reports that he can procure with the PaymentNet technology.
Would you say this is a drawback?
Since it deals with the financial aspects of an organization, extensive security protocols are incorporated to safeguard the interests of the users. Account number masking, authorization of controls, SSL data encryption, and many-phased login authentication are characteristic features of the PaymentNet technology. The access to various sections of the transactions is set up based on the profile of the user logged in, and similar controls are set up at each level of transaction to provide a secure process.
The PaymentNet also has with the additional feature of adaptation to the business structural setup of individual organizations with customizable service options that incorporate smooth, organized flow of transactions in a purchase. For more information and familiarization with the working of the commercials cards and availing the PaymentNet technology, the following number may be contacted.
Phone: +1 800-601-9878
Conclusion:
Manual operations and tedious payment-purchase records are a thing of the past with the PaymentNet technology providing a one-stop solution. All the users need is an account opened to avail the technology and financial management is triggered into action.