J.P. Morgan Helps Mid-Size Companies Quickly Lower Accounts Payable Costs And Boost Working Capital
J.P. Morgan’s Order-to-Pay Rapid Deployment Solution Brings A Simplified Approach to Accounts Payable Automation
NEW YORK - J. P. Morgan Treasury Services today announced the launch of Order-to-Pay Rapid Deployment, a new platform designed with advanced integration and configuration tools to eliminate the complexity associated with implementing Accounts Payable (AP) Management solutions. With Order-to-Pay Rapid Deployment, clients can begin to see a return on investment in as few as thirty days.
The adoption of electronic invoicing and payments to date has been largely limited to companies with the financial and technology resources to implement large-scale automation initiatives. In today’s challenging economic environment, more small and medium sized businesses are looking to take advantage of the benefits associated with accounts payable automation. The greatest challenge facing these firms is to rapidly demonstrate a return on their technology investments.
J.P. Morgan’s Order-to-Pay Rapid Deployment is targeted toward mid-size companies with limited technology resources that want an AP automation solution that is as easy and quick to implement as it is to use. With its new configuration tools and pay-as-you-go model, Order-to-Pay Rapid Deployment accelerates the benefits delivered through AP automation, such as the reduction of AP processing costs and cycle times, the reduction of paper invoices, and the ability to maximize early payment discount opportunities.
“J.P. Morgan’s new Order-to-Pay Rapid Deployment solution enabled Memorial Sloan-Kettering Cancer Center to install and configure a fully functional test environment in five days, and then deploy production in an hour,” Barbara Cassera, Manager of Financial Systems, Memorial Sloan-Kettering. “The complete settlement functionality and comprehensive, standardized Order-to-Pay workflow gave our users and vendors the ability to begin working in the environment immediately.”
Order-to-Pay Rapid Deployment provides mid-size businesses with a range of AP automation options. Organizations can choose to begin with Total SettlementSM for robust payment automation that includes commercial card, ACH, wire transfer and check. Beyond payments, discounting capabilities are offered to optimize working capital or to complete invoice automation via paper and electronic invoice processing. Buyers have the option to select from a list of pre-tested packaged solutions that allow for business-specific, rule driven configuration.
The unique, built-in solution integration, validation and “one-click” deployment empowers business managers themselves to quickly configure, implement and deploy. This new approach eliminates the need for extensive IT resources and dramatically improves the ability for business managers to simply and quickly adjust their AP automation application to suit changes in their business needs.
“J.P. Morgan continues to invest in invoicing and payment capabilities that enable our clients to operate more efficiently,” said Eduardo Vergara, global commercial card executive, J.P. Morgan Treasury Services. “With Order-to-Pay Rapid Deployment, J.P. Morgan is helping mid-size companies take advantage of accounts payable automation they can afford.”
To learn more about the platform, please visit: www.jpmorgan.com/ordertopay
About J.P. Morgan Treasury Services
The Treasury Services business of J.P. Morgan is a top-ranked, full-service provider of innovative payment, collection, liquidity management, trade finance, commercial card and information solutions to corporations, financial services institutions, middle market companies, small businesses, governments and municipalities worldwide. With more than 50,000 clients and a presence in 39 countries, J.P. Morgan Treasury Services is one of the world’s largest providers of treasury management services and a division of JPMorgan Chase Bank, N.A., member FDIC. More information can be found at www.jpmorgan.com/ts.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com
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