Yesterday JPMorgan announced the launch of AP Trac, the first new service based on its purchase of Xign back in May.
APTrac is intended to replace paper checks, settles transactions via the purchase card network, delivers remittance data, and allows both buyers and sellers to track payments online. APTrac should be attractive to corporate AP as no additional hardware or software is necessary and it interfaces with leading ERP and AP systems.
Benefits for Corporate AP
- Optimizes working capital by increasing payment float while speeding up payment to suppliers.
- Reduces operational costs by leveraging electronic payments with straight-through processing.
- Provides increased control since only payments that are buyer-approved and buyer-initiated via our secure gateway can be authorized.
- Extends the reach of a purchasing card program by bringing new classes of spend to a card, such as capital goods, advertising and more.
- Makes paying a supplier as easy as your process for a check run.
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During her time at Glenbrook, Erin focused on client engagements in business payments, cross-border transactions, bill payment, and the intersection of corporate finance, banking, and ERP/accounting. She has nearly twenty years of experience leading increasingly complex payment initiatives for corporate clients and advising financial institutions and payment technologists on the development of their payment capabilities.
Erin is also the founder of Forte Financial, a consulting firm focused on corporate finance efficiency, technology, and process improvement. She is a past president of the Financial Women’s Association of San Francisco and also a two-term past president of the San Francisco Treasury Management Association. Erin is no longer with Glenbrook, but contributed greatly during her time at the firm.