ASB Biz customers set to benefit from new tech partnership

Monday, 16 December 2013, 2:52 pm
Press Release: ASB Bank

Media Release

16 December 2013

ASB Business customers set to benefit from new technology partnership

ASB has today announced the launch of a major project with technology company IP Payments to develop a service offering called Integrated Receivables. This new service will help businesses simplify the accounts receivable process, reduce costs and improve efficiency.

ASB’s Executive General Manager Technology & Innovation Russell Jones explains that once developed, businesses will have access to the automated invoice-to-payment reconciliation system that covers everything from creating a bill, to receiving a payment and reconciling, to collections and dispute management.

“In today’s rapidly evolving payment landscape businesses now have to manage payments from a variety of channels including via the post, online or mobile banking. Centralising the management of invoices and receivables will make payments much easier to manage and process. The benefit for businesses will be increased visibility and control, reduced paper costs, reduced staff costs and improved cash flow by reducing outstanding payments.”

Payment management is a critical element for any business and by using Integrated Receivables businesses will be able to send smart invoices, and their customers will be able to make one-step payments.

“The customer also benefits as they enjoy the convenience of being able to view and pay a bill when, where, and how they want to,” says Mr Jones.

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When choosing a technology partner to develop the Integrated Receivables service offering Mr Jones says IP Payments stood out due to its understanding of the technological innovation required to keep up with the needs of businesses and their customers.

“We’ve partnered with IP Payments because they have a great track record of delivering innovative and secure cloud based PCI (Payment Card Industry), Accounts Receivables Automation and Payment Gateway Solutions to accelerate cash flow and improve efficiencies,” concludes Mr Jones.

ASB plans to launch the Integrated Receivables service offering in April 2014. It will be the latest in a range of innovative business banking solutions including: ASB PayHere, ASB’s online Business banking platform - FastNet Business, ASB’s Mobile Business app, and its strategic alliance with Xero.

For more information about ASB Commercial Banking: https://www.asb.co.nz/business/accounts-and-services

ENDS

ASB Bank

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