RealTime IT News

eSettlements for E-Commerce

Business software company PeopleSoft Inc. delivered an eSettlements solution for electronic invoice presentation and payment (EIPP) for the enterprise that provides a common platform for B2B buyers and sellers.

The Pleasanton, Calif.-based company said that the new integrated electronic settlement solution saves time and can improve a company's cash management functioning, allowing buyers and sellers to exchange and match transactions such as purchase orders, receipts and invoices.

PeopleSoft said its new eSettlements app, a part of its Financial Management Solutions package, lets companies receive invoices electronically, send alerts and notifications, and resolve disputes online.

Buyers are able to extend their procurement and payment rules, such as matching and payment selection criteria. Sellers can improve customer relationships and reduce sales outstanding through online tracking and resolution of payment issues.

"Today's economic conditions are forcing CFOs to focus on improving cash management and reducing costs," said Renee Lorton, senior vice president and general manager of PeopleSoft Financial Management Solutions. "eSettlements provides a significant return in these key areas and also improves overall operational efficiency and customer/supplier relationships."

Meanwhile, PeopleSoft signed a deal with Sunnyvale, Calif.-based Vigilance Inc. to provide a supply chain event management solution that will give customers "extended visibility and expanded control" over the supply chain.

The integration of PeopleSoft's Supply Chain Management (SCM) applications with Vigilance's Supply Chain Event Management Suite (SCEM) will enable companies to alert employees and suppliers to unexpected events and take corrective action throughout the supply chain.

Financial terms of the deal with privately held Vigilance (funded by Lightspeed Venture Partners and Accenture) were not disclosed. The new solution combines cross-enterprise event detection, closed-loop analytics, role-based portals, and collaborative business rules to enable companies to identify and prioritize emerging issues and alert escalation paths for corrective action.