Microsoft, Bank One Link Great Plains 7.5 to Banking Services

Aim to simplify cash management with solution to let mid-market companies automate transmission of banking, accounting information

Chicago November 13, 2003 Microsoft Business Solutions and Bank One this week took the wraps of their Integrated Cash Management Solutions, a suite of software and banking services designed to help mid-market companies automate the process for sending and receiving files between Microsoft Business SolutionsGreat Plains and Bank One's cash management services.

Integrated Cash Management Solutions provides connectivity between Bank One customers using Microsoft Great Plains 7.5, automating the transmission of banking and accounting information using a standardized format. Using the solutions, mid-market business owners can now integrate their existing business processes for management of payables and receivables with their banking services, helping to eliminate time-consuming administrative tasks, the two companies said.

By implementing Integrated Cash Management Solutions, businesses can use and automate various cash management functions, including the transfer of electronic payments, check payments, electronic collections and receivables reporting. The solutions also make available new Bank One product offerings to Microsoft Great Plains users, such as Check Outsourcing, a banking service that enables check issuing and distribution.

Integrated Cash Management Solutions comprise the following services:

  • Secure Check Services

    • Check Outsourcing. Combines Microsoft Great Plains Payables Management and Bank One Check Outsourcing to provide check issuance and distribution

    • Positive Pay. Combines Microsoft Great Plains SafePay and Bank One Positive Pay for reconciliation and protection from fraud by identifying discrepancies between checks presented for payment and those issued by customers

  • Electronic Origination Services

    • Electronic Payables. Combines Microsoft Great Plains Payables Management, EFT for Payables and Bank One ACH for electronic vendor payments

    • Electronic Receivables. Combines Microsoft Great Plains Payables Management, EFT for Payables and Bank One ACH Services for electronic debits to business partners
  • Receivables Reporting Services

    • Lockbox Reporting. Combines Microsoft Great Plains Lockbox and Bank One Lockbox Reporting and Reciept$tream for automated reporting and updates of receivables data

"Integrated Cash Management Solutions significantly reduces the time required to manage critical business processes, which is an immediate improvement in payables and receivables management for the customer," said Kathleen Nugent, senior vice president and head of product development at Bank One.

Distribution of the new solutions will be through Microsoft Business Solutions-authorized reselling partners and Bank One's direct sales force. The software can be implemented as a complete suite or as individual services so companies can customize it to meet their specific needs, according to the solution providers.

The Bank One announcement coincided with the release of various upgrades from Microsoft, including Great Plains 7.5, Solomon 5.5, Navision 3.7 and Axapta 3.0.