Cash processing is not only time consuming but fraught with security challenges (and associated high costs of dual custody, surveillance, etc.). The astounding success of remote deposit capture of checks has prompted interest in remote CASH deposit services. Bankers...
In Boston at its annual conference the Association for Financial Professionals (AFP) announced a partnership with IBM to develop a comprehensive treasury benchmarking program. The multi-year project is being underwritten by Deutsche Bank Global Transaction Banking,...
Business Finance magazine and JPMorgan Chase surveyed 500 corporate Treasurers to better understand the trends impacting their departments and what keeps them up at night. Large Companies ($2 billion + annual revenue) vs. Smaller Companies (under $100 million)79...
Today MasterCard announces its Payment Gateway enabling businesses to pay their suppliers with either Purchase Card or ACH transactions and deliver remittance data. Unlike rival B2B services launched this year by AmEx and JPMorgan Chase, MasterCard is targeting small...
How effective is your purchase card audit process? Hopefully stronger than this company's:The travel manager of a Silicon Valley high-tech firm was charged with wire fraud today in federal court for allegedly charging $90,000 in personal expenses to a corporate...
As anticipated (after Steve Ellis' not so subtle hints at the NACHA Payments conference last month), Wells Fargo has announced mobile banking service for business customers. This is a first in the industry as all other mobile efforts have been targeted at...
Check conversion via Back Office Conversion (BOC) has significant advantages, particularly over the Point of Purchase (POP) check conversion method, and is widely regarded as NACHAs reaction the merchant disappointment with POP transactions. Back Office Conversion...
The spring issue of Strategy+Business wonders what corporations are going to do with the mountain of cash they've accumulated and evaluates options for spending/investing the cash:Until recently, excess liquidity seemed like a smart strategy. It was insurance...
Effective today, March 16, 2007, there is a new way to convert checks to electronic ACH transactions: Back Office Conversion (BOC). This method joins Point of Purchase (POP) and Accounts Receivable Entry (ARC) and fills a gap in check conversion options,...
Promoting Process Improvement Company-wide Increasing responsibility for operations efficiency and performance management requires a more proactive approach than finance has traditionally held. Financial professionals have a uniquely analytical skill set and holistic...
