In addition, fraud, security and compliance concerns add considerable challenges keeping treasury costs and services in-line with ever increasing client expectations.
As a result, more banks are leveraging technology to provide new value-added services to their clients. An increasing number of these banks are looking to best of breed technology partnerships to help their clients transform legacy business processes and improve financial and operating performance. A key area that every banking customer struggles with is their Accounts Payable process and banks are a natural fit to meet this challenge.
IPS offers an accounts payable automation platform for banks of all sizes that can be private labeled as part of their treasury management services. The platform, called Productivity Wrx℠, is delivered as a cloud-based service and combines capabilities for the receipt and processing of all invoices, automated routing with invoice approval workflows, integration into any ERP and/or payment system, and a dashboard with comprehensive reporting.
Our platform includes a Vendor and Payment portal that incorporates advanced technologies such as:
Used by mid-sized and large businesses across the country, the IPS Productivity Wrx℠ platform is proven to reduce invoice processing costs, improve staff productivity and accelerate invoice approval cycle times.
For banks, the IPS platform is a flexible, cost-effective, immediate and low-risk way to meet an increasingly common treasury requirement, strengthen client relationships, create a new income streams, drive adoption of electronic payments, and facilitate early payment discounts and other trade finance programs.
The IPS Productivity Wrx℠ platform can even be tailored for key vertical markets, such as property management.