Branch Banking and Trust (NYSE:BBT) has announced that B2B e-commerce solutions provider GXS' Managed Services will power its integrated financial supply chain management solution. The new service from BB&T seamlessly integrates international banking, commercial finance and payment services, providing buyers and suppliers worldwide with real-time visibility into invoice and payment processes.
The GXS Trading Grid will allow for integration between customers' ERP systems and the bank's product applications, offering visibility to all supply chain transactions and documents exchanged between buyers and suppliers, including purchase orders, purchase order amendments, bills of lading, shipment status messages, commercial invoices and invoice approvals. For small suppliers, Trading Grid offers a Web-based portal for sending and receiving electronic documents, software adapters that integrate with accounting packages such as Quickbooks, and a service bureau that converts paper documents to electronic formats.
"With some banks, corporate customers must interface with three different lines of business to align their financial supply chains," Bennett Bradley, executive vice president and Payment Solutions Division manager at BB&T, said in a statement. "With BB&T, they will have one resource to utilize for all functions-international, financing and payments. In addition, our partnership with GXS enables us to respond quickly to clients' needs to improve visibility in their supply chains, by eliminating obsolete manual processes."