JP Morgan Payments has launched a supply chain finance (SCF) solution integrated directly into Oracle’s enterprise resource planning (ERP) software, slashing the time it takes for clients to establish working capital programmes.
The solution was finalised earlier this year and initially launched with transport company FedEx, a JP Morgan spokesperson tells GTR.
The solution is embedded within Oracle Fusion Cloud ERP, allowing companies to manage working capital directly within the same system as they use for payables, receivables and supplier management.
This replaces what would typically be a months-long custom development project with a much simpler activation and setup process, JP Morgan and Oracle say in a July 31 statement.
The solution has provided FedEx with greater working capital flexibility and its vendors with early payment options, the statement says.
“When FedEx approves an invoice, the vendor can choose to wait for payment on extended terms or receive early payment through JP Morgan Payments at financing rates based on FedEx’s superior credit rating,” they add.
“Collaborating with J.P. Morgan Payments and Oracle to build a solution has been transformative for our working capital management,” says Trampas Gunter, CVP corporate development and treasurer at FedEx. “Leveraging JP Morgan Payments’ SCF and liquidity solutions in a way that is tailored to our business has strengthened our financial position and enhanced our operational resilience, ultimately benefiting our customers and shareholders.”
The functionality forms part of JP Morgan’s “integrated trade finance for Oracle Fusion ERP”, first announced at Oracle Cloudworld 2024. It includes several other tools, including a touchless expense offering that automatically generates expense reports for employees using a JP Morgan corporate card – allowing for quicker travel reimbursements.
Rondy Ng, executive vice-president of applications development at Oracle, says: “The collaboration between Oracle and JP Morgan Payments is transforming how our joint customers unlock new banking and working capital solutions through turnkey activation and embedded AI services within Oracle Cloud ERP.”
“With our joint multi-year continuous innovations in Oracle B2B with JP Morgan Payments, we empower businesses to achieve near touchless payment transactions,” Ng adds.
