Chase Redesigns PaymentNet Around .Net Web Services
The move enables business customers to manage commercial card programs more efficiently by linking ERP systems directly with PaymentNet.
J.P. Morgan Chase & Co. has redesigned its commercial card platform, PaymentNet, around Web services utilizing Microsoft's .Net development environment, enabling business customers to manage commercial card programs more efficiently by linking enterprise-resource-planning systems directly with PaymentNet. The system runs on Microsoft's Windows 2003 server.
PaymentNet automates the administrative tasks associated with managing a card program, such as monitoring, reporting, and analysis of spending. The new Web-based system gives customers greater flexibility while adhering to corporate accounting standards. For example, separate divisions within the same company can manage their own policies, such as setting credit-card spending limits, while the card transactions themselves get reported into the company's central general ledger system.
The system eliminates duplication of effort by program administrators, allowing them, for example, to change credit-card limits for individual employees and at the same time view how many employees have equal or greater spending limits.
The Web-services enhancements will enable PaymentNet to work collaboratively with an ERP system, eliminating the need for custom programming, says Chris Hunter, product manager for PaymentNet. For example, an order for supplies can be executed through a purchasing system, then seamlessly transferred to PaymentNet for reconciliation, adding another degree of financial control. Customers also have the option of extracting files from PaymentNet and loading them into their general ledger systems.
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