BNY, a global leader in financial services, and Kanexa have announced a strategic partnership to deliver an innovative open account automation solution. This new offering combines BNY’s extensive trade finance expertise with Kanexa’s advanced automation technology, providing corporations with a comprehensive digital platform to streamline their financial workflows.
Simplifying Processes for Enhanced Efficiency
The partnership focuses on automating invoice approvals, reducing operational errors, and minimizing the risks and costs associated with traditional methods. With seamless integration, businesses will experience faster and more efficient processes, helping them adapt to evolving market demands.
Kanexa officials highlighted that the collaboration with BNY’s global trade network empowers businesses to optimize their open account trade processes through advanced digitization. By leveraging cutting-edge technologies, this solution enhances clients’ experiences, improving both efficiency and cost savings.
The Open Account Automation Solution
The Open Account Automation Solution offers corporations an efficient and secure way to manage multiple business accounts. By incorporating artificial intelligence (AI) and machine learning (ML), routine financial tasks are automated, reducing the administrative workload and allowing financial teams to focus on strategic initiatives that drive business growth.
The system emphasizes security and compliance, ensuring all transactions adhere to regulatory standards while safeguarding sensitive financial data. With real-time monitoring and analytics, corporations can gain actionable insights into their financial operations, enabling data-driven decision-making. The solution is also highly customizable, allowing businesses to tailor it to their specific needs and seamlessly integrate it with existing financial systems.
Boosting Efficiency and Customer Experience
This automation solution not only increases operational efficiency but also elevates the customer experience. Corporations can benefit from faster, more accurate services, reduced operational costs, and the flexibility to adapt to changing market conditions. By automating financial processes, companies can enhance productivity and maintain a competitive edge in today’s fast-paced business environment.
BNY Global Head of Trade Finance Product & Portfolio Group Joon Kim said, “In a world of increasingly complex and global supply chains, providing businesses with a single point of entry is critical to the stability and efficiency of global trade.
“By integrating Kanexa’s capabilities with our global trade network and products, we are empowering businesses to drive efficiencies throughout their open account trade processes. This is another great example of how we’re drawing on the latest digitization technologies to enhance the experience for our clients.”
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