|
Deutsche Bank offers new collection service
The Deutsche Bank has launched its express collection solution that it says will help clients manage their cash receivables more efficiently.
The bank says the new value-added service that leverages on eBills, its web-based financial supply chain management platform, is a first for the Vietnamese market.
In a predominantly cash-based market like Viet Nam, low value payments such as consumer goods, insurance premiums and utility bills usually involve multiple parties such as payers, collection agents, distributors and the clients themselves.
For the client, this means a lengthy process before they are able to access the funds. With the new express collection solution, the payer can settle outstanding invoices at any branch of Deutsche Bank’s partner bank network across the country. This information is immediately updated on eBills and Deutsche Bank’s clients are notified via auto-emails upon receipt of funds. This compares to the current market standard of end-of-day or next day account statement.
All required data defined by the client can be uploaded into the company’s ERP system for automatic reconciliation.
Deutsche Bank says in a press release that this solution enables clients to mitigate cash handling risk, improve liquidity management and streamline efficiencies across the value chain.
VietNamNet/VNS
|
