J P Morgan Chase has partnered with BCE Emergis to roll out an electronic invoice presentment and payment (EIPP) solution for its wholesale banking and corporate clients.
The New York-based bank says it will offer Emergis e-Invoicing as a solution for corporate, middle market, financial institution, and net marketplace wholesale banking clients to use with their trading partners.
The decision follows the successful pilot of the service to a small group of Fortune 500 wholesale banking clients. J P Morgan Chase expects to roll the service out to more than 1000 of its commercial banking clients by July 2001.
Wholesale banks can use e-Invoiving to review line item detail, download the data into a wide variety of accounts payables packages, ERP systems and other accounting software, update their general ledger, and initiate online payments.
J P Morgan Chase says it will use the technology to deliver the bank's account analyses and invoice statements to its treasury services clients globally. It claims to be the first cash management bank to offer its own customer analysis statements via electronic presentment and payment.