Online solutions for receivables continue to grow

Launching its web-based accounts receivable solution in Asia-Pacific, J.P. Morgan joins a field of banks offering various electronic receivables products to the region's corporate treasurers and financial institutions.

Other banks, including Citi, BNP Paribas, Deutsche Bank, HSBC and Standard Chartered, already offer online receivables solutions in the region. All of the solutions provide some form of automatic or manual invoice matching, the ability to process various types of payments, and same-day management services.

"The consolidated view of receivables creates numerous efficiencies, including better exception management and enhanced information to understand receivable flows and identify delays across currencies and geographies," says Linda McLaughlin-Moore, Asia-Pacific managing director of product management and delivery at J.P. Morgan Treasury Services. "The solution also helps in better management of working capital, which has become an area of focus for many organisations given the current market conditions."

J.P. Morgan's Asia-Pacific launch of its web-based accounts receivable management application, Receivables Edge, comes shortly after the bank "enhanced" the product. In January, J.P. Morgan added enhancements including automatic matching of open invoice records for bank captured payments and remittance details.

Receivables Edge was originally launched in 2006 to serve US manufacturing, distribution and service industry customers.

The number of electronic receivables solutions available to corporate treasurers and financial institutions in Asia-Pacific has risen steadily over the past few years. Citi has offered its CitiConnect and ePib electronic receivables platforms in different markets around the region for at least a year. Clients include Indonesia's customs office and Malaysia's provident fund.

Deutsche Bank's online portal -- db-direct -- offers receivables solutions including FastCollect for cheque services and Payer ID for payment identification. The latest product addition to db-direct in Asia-Pacific was mobile authorisation, a payables solution launched in December.

HSBC offers a receivables management system that centralises management of corporate and financial institution clients' receivables. The solution also targets small- and medium-sized businesses in Asia-Pacific.

Even French banking heavyweight BNP Paribas offers its Connexis Cash solution to customers in Asia-Pacific. From its regional hubs in Hong Kong, Shanghai and Singapore, the bank focuses on servicing multinational corporates operating in the region.

J.P. Morgan's Receivables Edge adds another choice to the electronic receivables solution offering in Asia-Pacific. Indeed, the banks in the region are readily stepping up to meet the growing demand for electronic cash management tools among corporate treasurers.