Electronic payment solutions from IBM and eONE Global's subsidiaries, SurePay and govONE Solutions, should help e-marketplace participants, businesses, financial services providers and government agencies take advantage of the cost-savings benefits and convenience of online electronic transactions over traditional paper-based processing.
More than key cost reductions and back-office process optimization, electronic payment capabilities from IBM, SurePay and govONE Solutions will be designed to provide opportunities to improve risk management, increase financial liquidity, improve the speed and accuracy of transaction execution and gain access to new and improved levels of data associated with payments and the status of transactions.
According to the companies, many businesses do not make online payments to complete their accounts payable and accounts receivable transactions and must manually reconcile payments and related data. SurePay's system will be designed to handle all payment types going beyond ePayments to include check processing. This new feature, offered through a service alliance with First Data Corp.'s IPS division, should allow for consolidated reporting and remittance information on all payments to buyers and suppliers.
The companies also say that businesses have been reluctant to adopt the use of the Internet for corporate tax filing due to the lack of integrated payment systems. An e-payment infrastructure of services, software and hardware from IBM, SurePay and govONE Solutions may help companies make secure online payments, complete with all relevant data that are backed by well known financial institutions, facilitating Internet-based transactions.