PR - JPMorgan Adds Invoice Matching to Receivables Edge Solution

JPMorgan, a full-service provider of cash management, trade finance, and treasury solutions services, today announced that it has enhanced its Web-based accounts receivable management application, Receivables Edge, automatically matching open invoice records to bank captured payments and remittance detail, including checks, ACH and wire transfers. JPMorgan becomes the first bank to offer a fully integrated online Web presentment solution featuring invoice matching with same-day exception repair.

The enhanced Receivables Edge solution has been called the best example of a fully leveraged integrated receivables solution by Celent Communications.

New features of this solution suite include:

• Auto-match transactions resulting in "hands-free" posting to client’s A/R system
• Capture and archive images online for up to 10 years
• Access 12 months worth of data and images quickly via the Web
• View of returned and re-deposited checks
• Timely notification alerts of the arrival of important payments or check returns

"With this enhancement, we are better able to assist clients in consolidating their receivables management and collection processes, allowing them to achieve operational savings with a modest implementation effort," stated Brian Hinton, vice president, Receivables Business Development, JPMorgan Treasury Services. "As an industry leader, JPMorgan is committed to helping clients transition from paper to electronic channels and Receivables Edge is an enabling tool to that end."

JPMorgan developed Receivables Edge for organizations in manufacturing, distribution and service industries looking for a cost-effective alternative to licensed software to create an enterprise-wide view of all receivables transactions. Clients can expect to realize greater efficiencies in the management of their receivables function using Receivables Edge and its featured enhancements.

According to Celent Communications’ March 2007 report, AP and AR Outsourcing: Not for the Faint of Heart, JPMorgan’s Receivables Edge is the best example of a fully leveraged integrated receivables solution. Celent found that while many banks have considered extending the lockbox, JPMorgan has taken action, with a blend of technology, workflow automation, client self-service and receivables outsourcing.