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.
Through the strategic alliance, IBM, SurePay and govONE Solutions will jointly deliver electronic payment products and services. IBM will commit sales and marketing professionals to market SurePay's business payment services in the business, financial institution and B2B e-marketplace segments and will market govONE Solutions' services by opportunity in the financial services sector and the government portion of the public sector. SurePay and govONE Solutions will market the integration services provided by IBM Global Services (IGS) Business Innovation Services (BIS) to their customers and will utilize IBM technology to deliver these services.
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.