Sunbury, United Kingdom — July 22, 2008 — GXS™, a leading provider of business-to-business (B2B) e-commerce solutions, today announced that it has formed a new partnership with TDI Consulting to simplify integration between banks and their corporate clients. TDI provides banking integration implementation services to corporations to minimise the complexity of integrating with financial institutions. GXS has extensive experience helping banks enhance their cash management offerings to meet the needs of corporate clients. Together, the two companies will help banks and their corporate clients accelerate cash management initiatives through faster delivery of client implementations.
With more than 70 percent of the Fortune 500 banks and financial institutions as clients, GXS helps banks build flexibility and scalability into their cash management model by enabling them to adopt and support multiple B2B e-commerce standards and secure protocols. As a result, a bank can improve its customer service levels by integrating directly with a client’s enterprise resource planning (ERP) system, and by supporting whatever file format, standard or protocol is preferred by its customers. TDI provides full implementation services to corporate clients including extraction of payment instructions from accounts payable applications; set-up of connectivity and security between banks and customers; and integration of account statements to treasury workstations.
“Corporate banking has long been a matter of push and pull between the capabilities of the financial institution and the needs of their corporate clients. Through this partnership, we can eliminate the gap between those two realities and ease the cash management process for both parties,” said Michael Graeff, global director of financial services at GXS. “Through the GXS and TDI partnership, corporate clients can take advantage of faster implementations on new cash management deployments while banks can build greater flexibility into their offerings, making them more attractive to prospective clients. Together, we cansignificantly simplifythe implementation and ongoing management of corporate-to-bank financial transactions.”
Some of the key benefits of this partnership to corporate clients include reduced complexity associated with establishing new banking relationships; straight through processing of payables and receivables; consolidation of ERP financial systems and centralisation of functions into shared service centres. Additionally, the partnership will enable both banks and corporate clients to accelerate adoption of new standards and technologies such as those for the Single European Payments Area (SEPA), Universal Financial Industry message schemes (e.g., ISO 20022) and SAP’s Bank Relationship Management module.
“Most of our corporate clients today are signing with banks that can meet their business needs for cash management, but are challenged to establish technical integration between their ERP systems and the bank,” said Nigel Hysom, director of TDI Consulting. “Through the partnership between TDI and GXS, we can make it simple for banks to meet their clients’ needs today and those of tomorrow in this world of rapidly changing standards and technologies. The bank that is aligned with GXS and TDI will be able to support their clients better than ever before, while also realising accelerated time to revenue through faster implementations.”
Some of the key benefits of this partnership to financial institutions include the ability to accelerate cash management revenues through faster delivery of client implementations and elimination of backlogs; faster new product introductions for client technical interfaces; and greater competitive differentiation in new business proposals.
With direct operations in 20 countries throughout the Americas, Europe and Asia-Pacific, GXS can provide client delivery support to connect corporations with their banking partners around the world, enabling them to optimise financial supply chain initiatives. Using GXS, financial institutions can exchange purchase orders, commercial invoices, payment instructions, account statements, procurement card transactions, letters of credit and post-export financing requests electronically. GXS supports a wide variety of B2B technologies including ISO 20022, BAI, SWIFT, ANSI X12, EDIFACT and SAP IDOC document standards.
TDI provides Banking Integration and Financial Supply Chain Management consulting services to the leading global cash management banks and Fortune 500 companies. TDI leads the market in the Banking Integration space, working with 16 of the top 20 cash management banks, including Citigroup, HSBC, ABN AMRO, JP Morgan Chase, Bank of America, Deutsche Bank, RBS and BNP Paribas. For all these banks, TDI provides services to help standardise and improve the efficiency of corporate client on-boarding. Typically this work has been delivered from two principal service lines, Standards (helping banks to define and deliver to market standard messaging formats and connectivity) and Implementation Services (helping banks to on-board corporate clients by providing ERP specific consulting resource and tools).
Headquartered in London with offices in New York, TDI has a global coverage of consultants and currently looking to open an office in Asia Pacific in 2008. TDI can be found on; www.tdiconsulting.co.uk.
GXS is a leading global provider of B2B e-commerce solutions that simplify and enhance business process integration, synchronisation and collabouration among trading partners. Organisations worldwide, including 75 percent of the Fortune 500, leverage the GXS Trading Grid® to extend supply networks, optimise product launches, automate warehouse receiving, manage electronic payments and gain supply chain visibility. With an unmatched global presence, proven trading partner management and B2B outsourcing services, GXS’ on-demand solutions maximise the benefits of integration for businesses.
Based in Gaithersburg, Md., GXS’ extensive global network serves customers throughout the Americas, Europe, the Middle East and Africa and Asia Pacific regions. GXS can be found on the Web at www.gxs.co.uk.
For further information please contact:
Denise Oakley, Director, Marketing Programmes International GXS
Tel – +44 (0) 1932 776408 / +44 (0) 7768 537 481 Email: firstname.lastname@example.org