J.P. Morgan Payments introduces innovative Supply Chain Finance solution in partnership with Oracle
J.P. Morgan Payments and Oracle Partner to Streamline Working Capital Management for FedEx
In a move to enhance financial performance and drive business growth, J.P. Morgan Payments and Oracle have partnered to launch an integrated Supply Chain Finance (SCF) solution directly within Oracle Fusion Cloud ERP. This collaboration is exemplified by its implementation with FedEx.
The native integration of J.P. Morgan Payments SCF eliminates the need for lengthy custom builds, allowing companies to manage working capital seamlessly within their existing ERP workflow. FedEx, for instance, approves supplier invoices within Oracle Cloud ERP, and suppliers then decide whether to accept early payment or standard terms.
The financing terms reflect FedEx’s strong credit profile, benefiting suppliers with early payment options at competitive rates. The process is touchless and API-driven, enhancing automation, agility, and financial performance optimization.
Rondy Ng, Executive Vice President of Applications Development at Oracle, commented, "This collaboration is transforming how joint customers unlock new banking and working capital solutions through turnkey activation and embedded AI services within Oracle Cloud ERP."
FedEx’s Corporate Treasurer, Trampas Gunter, highlighted how the collaboration has strengthened the company's financial position and operational resilience with minimal implementation effort.
The partnership also includes Integrated Banking for fast bank onboarding, real-time banking data access, and streamlined payments. Furthermore, it incorporates the Integrated Virtual Card to optimize business-to-business invoice payments and delivers straight-through processing (STP) that eliminates manual card terminal entry for suppliers.
Umar Farooq, Global Co-Head at J.P. Morgan Payments, stated that the collaboration with FedEx aims to enhance working capital and boost liquidity management. FedEx is also leveraging Kinexys Digital Payments for the first time to enhance liquidity management across notional pools in Europe and Asia Pacific.
The collaboration between J.P. Morgan Payments, FedEx, and Oracle results in a new feature that incorporates J.P. Morgan Payments SCF functionality directly within Oracle Cloud ERP. This feature reduces a typical six-month development project to a simple activation and setup process.
This solution exemplifies the trend toward seamless ERP-finance integrations to improve working capital management in large enterprises. The partnership between J.P. Morgan Payments and Oracle aims to empower businesses to achieve near touchless payment transactions and agile and resilient financial operations for a dynamic economy.
References: 1. erp.today 2. jpmorgan.com 3. gtreview.com
- The collaboration between J.P. Morgan Payments, Oracle, and FedEx highlights the growing emphasis on blending technology, lifestyle, and business, as they aim to streamline finance management and boost liquidity through the implementation of a seamless ERP-finance integration.
- This partnership exemplifies the power of blockchain technology and digital payments in the realm of business, as FedEx leverages the integrated Supply Chain Finance solution to optimize its working capital management and finance operations, while providing suppliers with touchless, API-driven early payment options at competitive rates.
