JERSEY CITY, N.J., Jan. 26, 2012 (GLOBE NEWSWIRE) -- Fundtech, a market leader in global transaction banking solutions, today announced a partnership with Dataline, a leading Australian payment solution and services company, to offer electronic invoice presentment and payment (EIPP) and related financial supply chain services to corporate customers in Asia-Pacific.
Corporates who implement these services can benefit from replacing slow and costly paper-based processes with a quicker, more efficient and greener technology. For example, within the Accounts Receivable (AR) department, corporates can speed up the billing process by sending their invoices electronically rather than on paper and then manage them online. Instant delivery together with query management tools can lead to faster settlement and reduced 'Days Sales Outstanding' (DSO). On the Accounts Payables (AP) side, corporates can accept supplier invoices in any format straight into their e-invoicing hub, which reduces manual input, eliminates errors and helps to drive down costs.
There is also the option for AP departments to make an instant switch from paper to electronic by utilizing a 'Paper-to-Data' service. Whether a company processes invoices by mail, fax, email, EDI or other electronic channels, the data is captured, validated to agreed business rules and finally uploaded to an ERP or accounting system.
Dataline's products complement Fundtech's compliant Accountis EIPP service as they both enable corporates to automate complex financial processes, increase transaction visibility, reduce costs and eliminate paper. By working together Dataline and Fundtech will offer a complete range of financial supply chain solutions, which includes outbound (AR) and inbound (AP) e-invoicing, AP workflow automation, data scanning, e-payments support and online expenses management.
"Fundtech and Dataline already have many customers in common and look forward to growing our joint customer base further. We share the same vision and values. Both companies want to take the pain out of finance and reducing unnecessary manual work by taking AR and AP processes online. Together, our services provide busy finance staff with the ability to view, manage and process all of their finance documents in one secure location. This real-time access to data gives them greater visibility of the financial supply chain so that they can better optimize their working capital," said Ken Swanson, Managing Director of Dataline.
Gil Gadot, Managing Director of Fundtech's Financial Supply Chain Services strategic business unit, said: "Dataline is an established software company with whom we share a passion for providing innovative and cost-saving financial services that eliminate paper from the process. Fundtech already has a strong presence in the Asia-Pacific region and our partnership with Dataline will help us to further expand our e-invoicing network, which already has around 200,000 corporate connections worldwide."
About Fundtech
Fundtech is a leading provider of financial technology to banks and corporations of all sizes around the world. Founded in 1993, Fundtech was acquired by GTCR, a Chicago-based private equity firm. Major product lines are: payments and liquidity management; cash management, financial messaging, electronic invoice presentment, supply chain financing, remote deposit capture, merchant services, credit card gateway products and mobile banking products. The company sells these systems through either a traditional software license or through a Software-as-a-Service (SaaS) contract. Fundtech operates one of the world's largest services bureaus called Fundtech Connect, which addresses the unique needs of the financial services industry. Thousands of financial institutions and companies around the world rely on Fundtech's innovation to improve operational efficiency, increase revenues, and to provide greater competitiveness through business-to-business services. For more information please visit www.fundtech.com
About Dataline
For over 20 years the Dataline Group has been at the forefront of providing financial management solutions to clients in the Asia Pacific region using a combination of proprietary software development and strategic national and international partnerships. From major banks and government departments to small and medium enterprises, organisations through the region continue to rely on Dataline to enable efficiency and speed business processing. We specialise in assisting organisations to gain control over payment and processing resources and transform processes and procedures into profitable and automated outcomes. Dataline's commitment to customers and emphasis on innovation has made us a leader within our field of expertise, in the introduction of cutting edge technologies to deliver smarter business solutions. Access more information at www.dataline.com.au.