New York, NY/USA
Sourcing, Procurement, Fulfillment/Logistics, Payment, Decision Support
From its perspective, JPMorgan believes the main obstacle facing its clients in the marketplace is the job of alerting corporate finance executives to the benefits of linking the physical supply chain with the financial supply chain to expand discount management opportunities and profit from cash outflows.
To aid clients, JPMorgan has developed a wide range of solutions that address both the physical and financial supply chains.
JPMorgan offers traditional trade and payment solutions like Letters of Credit, Open Accounts and Commercial Cards, but has more recently stood out in the market for delivering more innovative solutions like supply chain financing, single-use purchasing card account technology, and buyer-initiated settlement options.
With its 2005 acquisition of global trade management company Vastera, JPMorgan became the first bank to round out its trade finance solutions with services and software addressing the physical side of the supply chain. In 2007, JPMorgan's acquisition of business settlement network Xign deepened its financial supply chain management capabilities by delivering electronic settlement capabilities and opportunities for dynamic discounting.
Most recently JPMorgan introduced a Freight Payment and Audit Solution, an electronic payment and transportation management service that helps importers and exporters achieve lower freight costs, greater control of global transport operations, and more actionable insight into supply chain sourcing and shipping decisions.
Looking to the future, JPMorgan plans to introduce new trade management solutions and roll out a procure-to-pay solution before the end of the year.
Sourcing, Procurement, Decision Support
Of all the issues plaguing many of today's leading procurement departments, JVKellyGroup, Inc. said the problem can be stated in a simple, single sentence: Most organizations lack actionable business intelligence. The four traditional components of actionable business intelligence are data quality, timeliness, usability and cost. Since 2002, JVKellyGroup has focused Web 2.0-based innovations in all four areas to deliver sustained change in numerous industries.
The company has developed processes to enhance the quality of information, from creating custom taxonomies to linking data from multiple, disparate sources to show the true meaning behind performance metrics.
JVKellyGroup's team of business intelligence experts also designed a flexible dashboard solution in which clients can readily change what metrics they're monitoring, while maintaining their original metrics in the background. The dashboards provide a clear visual representation of real-time information and highlight key metrics. Color coding allows users to instantly identify and assess trouble spots and areas of concern. The dashboard is fully "customizable" to each client's specifications and allows multiple views within a user friendly interface.
Finally, JVKellyGroup said that because budget dollars are hard to come by, the company utilizes a hosted solution with tools that are cost effective to implement and maintain.