Enterprise at a Glance

July 31, 2007

Enterprise Enhances Third-party Collections via Electronic Payments Capability

Enterprise Cash Management has enhanced its suite of electronic payment acceptance solutions offered through ClearTran, The Bank of New York Mellon Corporation-owned provider of flexible, comprehensive electronic and online bill payment solutions. The enhancement allows third-party collection agencies to deposit funds into your — or your business customers' — bank account(s) the same day they are collected for accelerated cash flow.

The capability provides third-party collection agencies with direct access (in most cases) to the ClearTran database used for your (or your business customers') internal collection efforts for accelerated collection of funds. Each assigned collection agency can only view and access its own group's transactions and reports. In addition to streamlining business process efficiencies by automating manual activities (i.e., real-time payment posting), the capability offers improved capacity to analyze and manage collections performance via a comprehensive and flexible reporting interface, and the ability to increase your daily and month-end push for receivables collections through one-time, post-dated and scheduled payments.

ClearTran's payment solutions offer both you and your customers multiple payment alternatives including the Internet, automated voice systems, call centers, kiosks and recurring debit programs, all of which can easily be integrated into your or your business customers' current receivables workflow without costly or time-consuming development work. Their integrated platform consolidates your payments acceptance process to offer a single payments database, license and administration; a unified process for deposits, accounts receivable posting and settlement and reconciliation; consolidated reporting that reflects the entire enterprise; and no duplicate payments or "lost" transactions.

For more details on ClearTran's Electronic Payment Acceptance solutions for you and your business customers, contact your account manager or send us an e-mail at ecm@mellon.com.