Bankers have been helping buyers and sellers conduct global trade for centuries, but today’s trade finance providers are being asked for a different kind of help. As trade flows have grown and new markets have opened, buyers and sellers have expressed a need for faster, more efficient ways to fund and manage their trade activities. Providers are now on notice to help their customers simplify and streamline trade-related business processes that until recently were paper-based, labor-intensive, and costly.
A key component of successful international trade in today’s economy is instant access to critical trade flow information. Trade Channel, J.P. Morgan’s Web-based global platform, helps clients gain visibility into the entire range of their trade activities — from purchase order to payment. The net effect of Trade Channel is improved efficiency, reduced expenses, less risk and a more streamlined trade-related payables and receivables process. “For clients that are expanding internationally,” says Gerry Scalgione, Managing Director and Product Executive at J.P. Morgan Global Trade, “the Trade Channel platform provides a portal through which they can fund and manage their trade activities end-to-end.”
Meeting Global Trade Requirements
As corporations sharpen their focus on the supply chain and its impact on working capital, portals like Trade Channel are deployed to help manage cash flow and levels of counterparty risk, providing a holistic view of trade activities from a single point of access. The Trade Channel platform supports traditional trade finance instruments such as Import and Export Letters of Credit, Standby Letters of Credit, and Direct and Documentary Collections, as well as Open Account transactions with an automated Purchase Order capability. Users have the ability to customize trade-related workflows, view images of shipping documents, create reports, and securely submit inquiries and exchange information — anywhere, anytime. Besides English, Trade Channel’s unique multilingual capabilities include Spanish, Portuguese and Simplified Chinese, with the addition of more languages planned for the future. Recent Trade Channel enhancements have included a customized dashboard feature that allows users to create interactive charts from underlying data for trend analysis, and to access proprietary J.P. Morgan training and reference materials.
“As they continue to evolve, Trade Channel features and functionality are the result of research, discussion and partnership with J.P. Morgan’s trade clients and are provided in response to their most pressing concerns,” Scalgione continues. “We believe many of our new features, particularly our language capabilities and the analytic and informational value adds of our client dashboard, are unique industry offerings. We are helping our clients respond more efficiently and effectively to the challenges of international trade.”
For more information
Want to learn more about how Trade Channel can work for your company? Contact your J.P. Morgan representative.