Posts Tagged ‘invoice’
MasterCard Worldwide today announced that it has integrated the MasterCard Payment Gateway with iPayables’ electronic invoice delivery capabilities to provide expanded payment solutions to corporations and financial institutions.
The combined offering provides a complete procure-to-pay solution that supports settlement using a MasterCard payment card account or electronic funds transfer (EFT).
Atlas Air Worldwide Holdings, Inc. (Nasdaq: AAWW), a leading provider of global air cargo assets and services, is the first company to utilize the integrated capabilities of the MasterCard Payment Gateway and iPayables.
“We manage and operate the world’s largest fleet of 747 freighter aircraft, providing a unique value proposition to our customers through highly reliable, cost-efficient assets and operating services,” said Joseph Lopez, Sr. Manager, Indirect Procurement for Atlas Air. “Similarly, the MasterCard Payment Gateway is a highly reliable, cost-efficient service that will streamline the process for paying our suppliers, saving time and money for us and our vendors.”
First introduced in October 2007, the MasterCard Payment Gateway is a flexible enterprise-wide payment processing platform for routing commercial payments between buyers, suppliers and their financial institutions. iPayables is the first non-bank reseller whose functionality is coupled with the MasterCard Payment Gateway, creating an end-to-end solution that offers companies a more streamlined, faster and secure way to make payments.
“The combination of iPayables’ electronic invoicing capabilities with the MasterCard Payment Gateway provides Atlas Air with one efficient and secure B2B payments solution,” said Shari Krikorian, vice president, Advanced Payments, MasterCard Worldwide. “By managing multiple payment types, the MasterCard Payment Gateway is simplifying the historically inefficient, check-dominated process of payment, and solving corporations’ growing demand for straight-through processing.”
Using the MasterCard Payment Gateway, a buyer can initiate payment card and EFT payments directly from its financial system to the banks of its suppliers. Remittance data is provided to both the buyer and supplier to speed up reconciliation processes. No account information is shared between the buyer and supplier, and the supplier does not need to use a point of sale device to originate payment.
“The MasterCard Payment Gateway expands our electronic invoicing capabilities and enables us to provide our customers with a complete payables solution that delivers increased efficiencies for all of their commercial payments needs,” said Ken Virgin, CEO, iPayables.
The modular nature of the MasterCard Payment Gateway also provides financial institutions with an enterprise-wide electronic solution that they can re-brand and make available to their corporate customers, or integrate into their current product offerings to enhance their functionality and efficiency. This can enable them to increase payment volumes without building infrastructure, potentially grow profits with additional fees, deepen customer relationships and differentiate from the competition.
Suppliers that process payments with the MasterCard Payment Gateway enjoy automated payments with straight-through processing, decreased paper check processing costs, automated reconciliation via enhanced remittance information for common payment types and preference among buyers that pay electronically.
Buyers that rely on the MasterCard Payment Gateway can drive efficiencies by streamlining their payment options, integrating with existing accounts payable processes and can potentially save money by enabling one connection. Through this method/gateway, buyers can have one streamlined total payables solution that can help them increase productivity, enhance security and increase profits.
Source: Sibos Online
Bottomline Technologies (NASDAQ: EPAY), a leading provider of collaborative payment, invoice and document automation solutions, today at Microsoft’s 2008 Worldwide Partner Conference announced expanded functionality for automating business-critical transactional processes within Microsoft Dynamics AX 2009.This new release allows the growing number of organizations standardized on Microsoft Dynamics AX to achieve the business benefits of more streamlined, electronic processes involving transactional documents such as invoices, payments and purchase orders.
Integrating seamlessly with Microsoft Dynamics AX 2009, Bottomline’s document process automation solution allows organizations to quickly extend the capabilities of their Microsoft application without custom programming. Through this functionality, organizations can build upon the strengths of Microsoft Dynamics AX 2009 to further increase user productivity, reduce costs associated with managing complex global financial and supply chain processes, and respond to the changing demands of the regulatory environment.
“The ability to manage the generation and delivery of transactional documents electronically has become a strategic factor in helping organizations compete more effectively in a global marketplace,” said Gareth Priest, Vice President of Global Product Management, Bottomline Technologies. “Since first introducing support for the Microsoft Dynamics AX platform in 2006, our solution has provided this growing community with the transactional document automation capabilities they need to maximize their investment in Microsoft Dynamics AX as a core financial and business system.”
In deploying the new capabilities announced today, Microsoft Dynamics AX 2009 users can:
- Improve the security of electronic transactional documents and payments through configurable preferences based on role and delivery destination;
- Share configuration options across multiple company accounts, and enable unattended batch processing based on recipient-specific delivery preferences during non-peak times to reduce operational complexity and IT overhead;
- Increase user productivity with a fully integrated and intuitive interface that mirrors the MicrrMicrosoft Dynamics AX 2009 user experience;
- Support global implementations through user interface localization in common international languages;
- Enhance communication and reporting through the ability to group related, but independent documents, into a single PDF file for preview and delivery; and
- Utilize Microsoft Dynamics AX 2009 Enterprise Portal to access and view Bottomline-generated reports on-demand without a Windows AX client.
“We believe that with the combination of our domain expertise and new capabilities specifically designed for Microsoft Dynamics AX 2009, customers will gain the security, reliability and control they require to make efficient transactional document processes part of their long-term, global business strategy,” said Priest.
Source: Sibos Online
Bo Harald, chairman, EC Expert Group on e-Invoicing, spoke to Finextra at EBAday in Helsinki about the progress being made by industry bodies to lay the groundwork for wider adoption of e-invoicing in the European single market. In this video he outlines some of the benefits for corporates, SMEs and banks in increasing financial supply chain efficiency, and describes the steps being taken to achieve standard processes and a common legal foundation for e-invoices in Europe.
Source: Sibos Online
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