Delivered in just eight months, the tailored solution leverages JP Morgan’s PaySource technology to manage the global processing of all Motorola global payment activity originating outside of the US.
The consolidation of this activity through PaySource, an automated disbursement solution, delivers cost savings and provides increased efficiency and transparency for Motorola.
Tim Westcott, European treasurer for Motorola, says: “Faced with a short timeframe, JP Morgan’s professional and efficient global team worked closely with us to successfully implement this bespoke solution. We look forward to our continued relationship with JP Morgan and to the benefits a centralised payments solution will bring.”
The tailored payment processing solution from JP Morgan includes standardised messaging, consolidated treasury reporting and automated payables funding. By using a single banking provider, Motorola will be able to centralise its international payment activity through its Global Shared Service Centre, located in Tianjin, China.
Steve Groppi, business executive for JP Morgan Treasury Services in Europe, the Middle East, Africa and Asia, adds: “We are delighted to have Motorola as a customer. This project is testament to our ability to leverage our core cash management products to create end-to-end, flexible and customised solutions to meet the specific needs of our customers.”