Bank of Montreal boosts B2B offerings

BMO ePurchasing Solutions, the Internet commerce division of Bank of Montreal, recently announced the launch of BMO FlexPort, a Web-based platform for business-to-business procurement.

According to the bank, BMO FlexPort enables buyers and suppliers to electronically process purchase orders and settle payments in the formats of their choice, and do so within their corporate ERP systems.

“Today, suppliers are often forced to interface with buyers using the technology format the buyer wants. Not only can the conversion to different formats be costly and time consuming for suppliers, but it limits their ability to properly service their customers,” said Randy Ford, director of BMO ePurchasing Solutions. “FlexPort acts as a gateway that translates file formats, allowing both buyers and sellers to use their preferred format. Our technology helps suppliers concentrate on filling the orders rather than on how they are going to customize their data for the buyers.”

According to the bank, BMO FlexPort combines electronic purchase and payment instructions, such as order delivery, acknowledgement and shipping notification, multiple payment methods and advanced reporting.

It complements BMO ePurchasing’s suite of Web-based components, which includes BMO detailsOnline, a Web-based system for data warehousing, reporting, and ERP integration, and Procure2Pay, a decentralized e-catalogue purchasing product.