Press Releases
Mellon Global Cash Management to Host Free Cyberconference on New Automated Solution for Cash Application Exception Management
Pittsburgh, December 5, 2005 — Mellon Global Cash Management will host its final cyberconference of 2005, "A New Automated Solution for Cash Application Exception Management," on Wednesday, December 7 from 2-3 p.m. EST.
There is ever-increasing pressure to improve working capital and enhance productivity, often with limited resources. Given the evolving complexities of the payment processing industry, exception item processing can be very significant as it can cause delays, decrease proficiency and increase the cost of lockbox processing. To achieve greater efficiency and accelerate cash application, there is a move in the industry to automate remittance exception procedures. Although many companies have some process for identifying and resolving exceptions, this often requires considerable time on the part of the employees and can result in potential delays in cash application. Many of these issues can be resolved if the proper solution is implemented.
During this free cyberconference, Mellon's remittance processing and finance and accounting business process outsourcing product experts will outline Mellon's new, Web-based Cash Application Exception Management service. Used in conjunction with Mellon's lockbox solution, this efficient, automated cash application exception management solution is designed to enable automated tracking, analysis and electronic workflow to support exception resolution. It also has real-time abilities to monitor accuracy, generate reports and prioritize critical items. Participants will also learn how this unique solution may enable them to enhance controls, accelerate approvals and improve cash flow by eliminating many of the labor-intensive, manual functions associated with conventional remittance exception processing.
Mellon Global Cash Management, a payments industry leader synonymous with quality performance and known for its innovation and expertise, designs comprehensive solutions through its broad line of cash management services to meet the specialized treasury needs of corporations, nonprofit organizations and financial institutions. Recently, an independently-administered customer satisfaction survey revealed that Mellon GCM continues to distinguish itself from its competition in the areas of operating quality, commitment to cash management and customer service. In addition, Mellon GCM was one of only two providers to achieve an A+ average for product performance in the 2004 Phoenix-Hecht® Quality IndexÔ of 33 major cash management providers. Throughout 2005, Mellon GCM is celebrating its 50th anniversary in remittance processing. In addition, Mellon GCM is the only electronic payments services provider in the U.S. to successfully complete both a Level 3 Capability Maturity Model® (CMM®) assessment for its software engineering practices and attain ISO 9001:2000 Registration. More information on Mellon GCM is available at www.mellon.com/gcm.
Mellon Financial Corporation is a global financial services company. Headquartered in Pittsburgh, Mellon is one of the world's leading providers of financial services for institutions, corporations and high net worth individuals, providing institutional asset management, mutual funds, private wealth management, asset servicing, payment solutions and investor services, and treasury services. Mellon has approximately $4.5 trillion in assets under management, administration or custody, including