BNP Paribas has reached yet another milestone in its efforts to offer its clients better traceability and transparency on their international payments with the launch of g4C inbound tracking.
With this new service, corporates can gain visibility on incoming cross-border payments much before the money is credited on their accounts.
By registering for the g4C inbound tracking service, clients will receive advance notifications on their incoming payments indicating the status at each processing stage, the remittance information along with routing and fee deductions, in MT199 format. As beneficiary bank, BNP Paribas will receive the MT199 messages from the gpi Tracker and will relay them in real-time, allowing clients to integrate them directly into their ERP or TMS.
This new service will be of immense value to sensitive payments, e.g. large trade agreements, mergers, acquisitions or capital increases. Additionally, the real-time information in standardised format, from all the banks of a client, will positively impact the day-to-day management of their cash.
In terms of receivables forecasting and liquidity management, it will allow clients to adjust intraday credit lines with greater efficiency. The g4C inbound tracking service will also provide clients with the opportunity to speed up the supply chain cycle, build up trust with counterparties and facilitate an accurate reconciliation process thanks to the transparency on fees deductions from the original amount. Should anything go wrong down the payment chain, clients can be informed immediately, thereby helping them take the necessary actions to resolve the issue.
The g4C inbound tracking service has many more advantages that can help corporates add real value to their cash management processes, opening up new business opportunities. Contact your BNP Paribas relationship manager for more information.