Financial Daily from THE HINDU group of publications
Tuesday, Dec 02, 2003
Financial Daily from THE HINDU group of publications Tuesday, Dec 02, 2003 |
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Money & Banking
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Information Technology Deutsche Bank launches e-bills system Our Bureau
Mumbai , Dec. 1 DEUTSCHE Bank has launched an end-to-end payment and collection solution for corporates using `db-ebills,' the bank's B2B electronic presentment and payment system. Addressing a press conference here on Monday, Mr Kaushik Shaparia, India-Head of Global Cash Management, Deutsche Bank, said, the implementation of this global cash management system had begun and the bank had already bagged a contract from a multinational with a large manufacturing business in India. Other companies had also expressed interest in this product, he said. Mr Shaparia said customers were guaranteed incoming cash flows while their dealers would have alternative recourse during temporary shortfalls. `db-ebills' leverages the Internet to deliver complete solutions for invoice and financial processing as well as for reconciliation and reporting on these procedures between business partners. According to bank officials, Deutsche Bank has tied up with 15 domestic banks for payments and collections and currently it recorded 40 million transactions on an annualised basis.
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