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News
Research Report Calls Automated Payment Tracking and Reconciliation "Transformational"
1 Aug 2009
Gartner, Inc.'s Hype Cycle for Financial Services Payment Systems, 2009, released in July 2009, calls Automated Payment Tracking and Reconciliation Services "transformational" with adoption in five to ten years at a time when liquidity access and management are critical objectives for all players in the financial value chain.
President and CEO Ken Mathis cited the report in an address to employees, "In matching invoice information to payments and integrating with common accounting software, inXpay enables clients to update their general ledgers in real time. The ability to track corporate cash with a single click enhances cash flow management and budget forecasting, reducing borrowing costs. Instant access to your cash is especially important when times are tough," Mathis said.
The report also identifies several barriers to entry, including, but not limited to, incompatibility between bank systems and accounting software. "The inXpay system provides the connection from the bank to the customer's general ledger," Mathis said.
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