CGI Enhances Global Trade Platform Proponix360 with Supply Chain Finance and Cash Management Capabilities
January 08, 2009 (PRLEAP.COM) Business NewsCGI Group Inc. (TSX: GIB.A; NYSE: GIB), a leading provider of information technology and business process services, is announcing enhancements to its Proponix360 global trade platform, enabling banks to provide open account and working capital optimization solutions to their customers.
Improved account receivable and payable management services will result in efficiencies savings and reduced expenses for the banks' corporate customers. New capabilities will significantly improve working capital for sellers by increasing accounts receivable matching and addressing short term financing needs. Banks can also customize the solution to include purchase order and invoice matching and automatic payments to help stabilize their buyers' supply chains. In addition, Proponix360 technology provides clients with the ability to in-source other financial institutions, positioning the bank to turn the wave of trade processing consolidation into a revenue generating opportunity.
By combining the full range of supply chain finance and working capital management functions with traditional trade finance components, CGI has created an integrated trade solution which supports the full range of global trade activities. By using a single platform, CGI clients gain technology and processing efficiencies that are particularly important in the current economic climate.
"CGI understands the trade industry is going through a fundamental change that requires banks to think about the business from the customers' perspective, while providing comprehensive services for buyers and sellers," said Steven Starace, Vice-President, Trade & Supply Chain Solutions for CGI. "Our continued investment in Proponix360 enables banks to adjust to these market transitions, with one integrated global trade platform for traditional trade, supply chain solutions and cash management.
For over 30 years, CGI has provided IT and business process services to financial institutions around the world including 24 of the top 25 banks in the Americas and 17 of the top 25 banks in Europe. CGI banking-focused solutions include core banking, end-to-end wealth management, trade finance, business intelligence/data warehousing and customer relationship management.
Founded in 1976, CGI Group Inc. is one of the largest independent information technology and business process services firms in the world. CGI and its affiliated companies employ approximately 25,500 professionals. CGI provides end-to-end IT and business process services to clients worldwide from offices in Canada, the United States, Europe, Asia Pacific as well as from centers of excellence in North America, Europe and India. CGI's fiscal 2008 revenue was $3.7 billion and at September 30, 2008, CGI's order backlog was $11.6 billion. CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB) and are included in the S&P/TSX Composite Index as well as the S&P/TSX Capped Information Technology and MidCap Indices. Website: www.cgi.com.
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