ASB has is working with technology company IP Payments to develop a service for its business customers called Integrated Receivables that it plans to launch in April 2014.
The service will help business customers simplify the accounts receivable process, reduce costs and improve efficiency, says Russell Jones, general manager, technology and innovation.
In today’s rapidly evolving payment landscape businesses have to manage payments from a variety of channels including via the post, online or mobile banking.
Jones says once developed, businesses will have access to the automated invoice-to-payment reconciliation system that covers everything from creating a bill, to receiving a payment and reconciling, to collections and dispute management.
“In today’s rapidly evolving payment landscape businesses have to manage payments from a variety of channels including via the post, online or mobile banking,” says Jones.
He says centralising the management of invoices and receivables will make payments much easier to manage and process. Businesses will benefit through increased visibility and control, reduced paper costs, reduced staff costs and improved cash flow by reducing outstanding payments.
ASB says Integrated Receivables is part of its expanded online business banking platform which includes is Mobile Business App and strategic alliance with Xero.
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