Bank of America introduces CashPro® Trade, the latest in innovative technology to manage your trade and supply chain transactions. Through a single, online solution, you can consolidate and manage import and export trade activity. This helps you optimize your working capital and assists you with ensuring a stable supply chain. Comprehensive activity reporting helps your company make well-informed decisions.
CashPro® Trade can enable you to:
- Initiate your commercial and standby letter of credit, documentary collection, open account, and supply chain finance transactions
- View images attached to your presentations for quick payment decisions
- View export transactions and manage your collections online
- Track payments at the purchase order level as well as at the transaction level
- Access new events and alerts for transaction updates online
- Access reporting at the summary and detail level
- Importers can automatically upload their purchase order details into letters of credit or open account transactions. Users can create, upload, and access online web images of related paper documents or electronic data elements.
- Exporters can access reporting to view export letters of credit or open account transaction details and presentation discrepancies.
- Buyers are able to provide sellers with the ability to be paid sooner.