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ABN Amro is extending its web-based collection services to more countries in Latin America from June. Currently available in Argentina, Mexico and Colombia, the service is to be rolled out in Venezuela, Chile, Uruguay and Paraguay, providing clients in those countries with automated tools to collect and manage their incoming funds in multiple payment formats and currencies.
Claudio Migliore, head, transaction banking for Spanish Latin America at ABN Amro says: “Timely, detailed information about incoming funds ensures rapid reconciliation of accounts, enabling companies to manage their accounts receivable efficiently and reduce days payable outstanding (DPO).”

ABN Amro’s collection services facilitate this by providing automated reconciliation and matching modules, cashflow forecasting and consolidated reporting to integrate the information directly into clients” ERPs. For example, authorised users can access consolidated positions by debtor at any time, from any location.

Other features of the service are:

  • Electronic bill presentation and payment capabilities
  • Pre and post-collection services, including confirmation of receipt of invoices and dispute resolution
  • Funds collection (including details of cash and cheques deposited at ABN Amro or partner banks)
  • Cheque collection service
  • B2B electronic payments
  • Consolidation of multi-bank reports

    ABN Amro’s collection services take account of in-country and regional payment channels and mechanisms to provide a highly comprehensive, multi-currency service. The service is available in English, Spanish and Portuguese.