Flexible Formatting

Bank of Montreal launches new procurement platform that puts payments in preferred formats

TORONTO  April 23, 2002  BMO ePurchasing Solutions, a division of Bank of Montreal, has announced the launch of BMO FlexPort, a Web-based platform for business-to-business procurement. 

BMO FlexPort features more procurement flexibility, enabling buyers and suppliers to electronically process purchase orders and settle payments in the formats of their choice while fitting with corporate Enterprise Resource Planning (ERP) systems.

Today, suppliers are often forced to interface with buyers using the technology format the buyer wants.  Not only can the conversion to different formats be costly and time consuming for suppliers, but it limits their ability to properly service their customers, said Randy Ford, Director of BMO ePurchasing Solutions. FlexPort acts as a gateway that translates file formats, allowing both buyers and sellers to use their preferred format. Our technology helps suppliers concentrate on filling the orders rather than on how they are going to customize their data for the buyers.

For the first time, BMO FlexPort combines electronic purchase and payment instructions, such as order delivery, acknowledgement and shipping notification, multiple payment methods and advanced reporting.  In addition, BMO FlexPort also electronically maps back to their ERP systems.