One of the market leaders in cement production across Europe, Australia, Asia and Latin America, this company manufactures, distributes, and markets cement, ready-mixed concrete, and other products and services for the construction industry.
The organization was looking to streamline its account receivables (AR) process and to substantially reduce non-identified payments, decreasing days sales outstanding (DSOs) and positively impacting its working capital. In addition, the company wanted to reduce checks and cash deposits by migrating these collections into electronic wire transfers so as to reduce costs and improve client experience.
J.P. Morgan includes the payer name, tax identification number and the remitter account in each transaction in order to help the beneficiary to identify the payment and determine the payer.
Neither the local nor global banks in Mexico have a similar host-to-host receivable solution that would cover the company’s semi-online operations.
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