JPMorgan Chase launches ExacTrac corporate epayments system
19th April 2006
Financial services firm JPMorgan Chase has launched ExacTrac, an electronic payment solution for mid-size and large corporations and government agencies.
According to the company, ExacTrac offers end-to-end automation, enabling the reduction or elimination of manual, check-based activities.
The company said that ExacTrac had been designed to enhance reporting and provide controlled spending for each payment, maximizing program discounts by targeting manual check processing and higher dollar spend transactions. It also builds on the security and fraud prevention of the commercial card industry and shortens reconciliation periods, while at the same time improving accuracy.
"ExacTrac is the perfect complement to an automated procurement and invoicing process. With ExacTrac we help customers leverage the existing investment they have already made in their system by providing a payment solution that easily integrates and quickly produces savings and efficiencies," said Richard Erario, head of the Commercial Card business for JPMorgan Chase Treasury Services.
"ExacTrac bolsters our suite of Commercial Card product solutions and enhances our market leading position by further streamlining our clients' purchase-to-pay process," he continued.