Bonaire Software Solutions has released new Payport Payment Matching Software module Payment Matching, an optional, add-on module that is fully integrated with Payport. The solution is aimed at the asset management industry for managing customer receivables and payments.
Bonaire said that Payment Matching uses its proprietary rules engine to automate lockbox feeds or treasury uploads of client payments to be matched to accounts with open invoices.
According to the Bonaire, the new solution reduces manual payment matching, improves cash application and cash receipt projections and improves asset turns.
John Bosley, COO of Bonaire Software Solutions, said: “Payport enables our clients, including 11 of the top 20 asset managers, to streamline their customer fee payment processes resulting in significant cost savings and return on investment.
“The new Payment Matching functionality is integrated into Bonaire’s Payport allowing for scalability, flexibility, and growth. Our functionality is unlike any other offering in the asset management space today because it includes a rules-based auto payment matching by bank source capability. The user interface and application configuration is greatly simplified for the specific needs of the financial markets we target.”