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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