Expanded Mellon TradeLinks Service Now Available
July 19 2004 - 1:13PM
PR Newswire (US)
Expanded Mellon TradeLinks Service Now Available - Three-tiered
service offering targets invoice-to-cash cycle improvements -
PITTSBURGH, July 19 /PRNewswire-FirstCall/ -- Mellon Global Cash
Management (GCM) has improved its business-to-business
comprehensive receivables solution with enhancements to Mellon
TradeLinks, its Web-based payment and processing service, by
offering several solutions designed to streamline the
invoice-to-cash cycle by migrating traditional paper-based invoice
presentment, approval and payment procedures to the Internet. The
upgrades present customer invoices through the Internet using both
interactive HTML or printable Adobe Acrobat PDF formats; enable
better customer self- service by offering six months of online
history and other tools that help customers quickly locate
information; and enrich business intelligence through online
queries of payer activity. "Manually printing and delivering
traditional paper-based invoices is ineffective and cumbersome.
This latest Mellon TradeLinks enhancement supports our goal to help
our customers increase their overall productivity, efficiency and
accuracy, as well as better manage and control payment processing,"
said Robert W. Stasik, executive vice president and head of Mellon
GCM, a treasury services business of Mellon Financial Corporation.
"In addition to enduring unnecessary costs related to processing
paper transactions, organizations yet to grasp this technology are
not effectively supporting their key business customers who already
have embraced the benefits of Internet-based processing." The
expanded Mellon TradeLinks service is composed of three core
electronic solutions: - Electronic Invoice Presentment -- Allowing
companies to present customers with electronic invoices through an
interactive Web invoice minimizes printing costs and billing
efforts; enhances customer service by enabling payers to research
billing issues with their own browser; and improves billing
accuracy and timeliness by ensuring invoices reach the right
customers. - Electronic Invoice Presentment Plus Dispute Management
-- By enabling companies to receive advance notification of
customer payment disputes by e-mail before receiving payment, this
function helps reduce exception processing for items not paid as
billed and resolves disputes quicker. - Electronic Invoice
Presentment and Payment -- Permits the entire invoice-to-cash
process to be completed online, including automated payments via
the automated clearing house or credit card networks. Using
electronic payments helps reduce payment float, which can improve
days sales outstanding. Other benefits include improved cash
forecasting ability through electronic collections reports and
fewer data entry errors due to automated cash posting capabilities.
As part of these three core solutions, Mellon TradeLinks also
features a number of new components that maximize product value and
give customers a greater rapid return on their investment. These
include: - User registration that helps companies streamline the
process their customers use to establish system access for
themselves and others. - Invoice delivery and notification system
in which invoice data are delivered to the Web in either HTML
format for user manipulation of the data or Adobe Acrobat PDF
format for printing and filing invoices. In addition, a proactive
electronic notification alerts payers when invoices are posted to
help ensure a more timely receipt. - The ability to collect
electronic payments, which substantially simplifies processes and
improves days sales outstanding. - Online invoice archiving, which
decreases customer service costs due to self-service for historical
invoice requests. - Management and control reports that track the
status of electronic invoices and payments, facilitating more
accurate cash flow forecasting. Mellon Global Cash Management, a
payments industry leader synonymous with quality performance and
known for its innovation and expertise, designs comprehensive
solutions through its broad line of cash management services to
meet the specialized treasury needs of corporations, nonprofit
organizations and financial institutions. Recently, an
independently-administered customer satisfaction survey revealed
that Mellon GCM continues to distinguish itself from its
competition in the areas of operating quality, commitment to cash
management and customer service. In addition, Mellon GCM was one of
only two providers to achieve an A+ average for product performance
in the 2004 Phoenix-Hecht(R) Quality Index(TM) of 33 major cash
management providers. Mellon GCM is the only electronic payments
services provider in the U.S. to complete both a Level 3 Capability
Maturity Model(R) (CMM(R)) assessment for its software engineering
practices and achieve ISO 9001:2000 Registration. More information
on Mellon GCM is available at http://www.mellon.com/gcm . Mellon
Financial Corporation is a global financial services company.
Headquartered in Pittsburgh, Mellon is one of the world's leading
providers of financial services for institutions, corporations and
high net worth individuals, providing institutional asset
management, mutual funds, private wealth management, asset
servicing, human resources and investor solutions, and treasury
services. Mellon has approximately $3.6 trillion in assets under
management, administration or custody, including more than $675
billion under management. Its asset management companies include
The Dreyfus Corporation and U.K.-based Newton Investment Management
Limited. News and other information about Mellon is available at
http://www.mellon.com/ . DATASOURCE: Mellon Financial Corporation
CONTACT: Ron Sommer of Mellon Financial Corporation,
+1-412-236-0082, or Web site: http://www.mellon.com/
http://www.mellon.com/gcm
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