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Aleph Inc., Introduces First Integrated eSettlement Solution
LA, Calif., Jan. 26, 2001 /PRNewswire/ - The first independent, information-centric, real-time e-settlement system, achello was introduced today by Aleph Inc., an international software development company.
The new system will enable payment and settlement of financial transactions across the Internet with powerful transaction tracking and reporting features, benefiting exchanges and their members with full integration with major ERP financial systems.
Developed initially for the United States, in conjunction with a major California bank, the platform will be available in Asia and Europe in the near future, creating a single global e-settlement solution. Aleph CEO, Sarwar Mushtaq explained that the achellos flexible design will be capable of integration with B2B Exchanges when it's released to the general public in the third quarter of 2001.
The need for a single Internet payment and settlement system is quickly becoming a necessity due to the growing number of Internet B2B marketplaces beginning to deliver on the promise of greater trading efficiencies by furnishing electronic tie-ins to users' enterprise computing systems.
The new, open end-to-end architecture system can be easily integrated with existing exchanges, e-procurement systems and ERP applications. Aleph Inc., which specializes in B2B integration solutions, will offer achello to B2B exchanges initially.
Large numbers of banks and software development companies have recently formed alliances in a race to develop the first proprietary payment and settlement solution, which would allow them to increase their market share and become more competitive.
Aleph's comprehensive solution improves integrated transaction tracking and reporting features. Resulting reduction of costs and facilitation of end-to-end transaction processing, fee collection revenue generation may prompt exchanges to pass savings on to their members, thus enabling new marketplace creation and growth.
Integrated transaction tracking and reporting features in achello provide a one-stop reporting center for updates of business processes A/C receivables or payables. The settlement solution will be linked to business procurement systems to extract new purchase orders and other documents. Online Aging Analysis will enable immediate tracking of overdue payments or receivables.
"Our philosophy is to stay neutral in the marketplace and develop products which can be easily integrated with any existing e-commerce solutions or business models. Financial institutions can integrate our suite of products as a 'financing engine' for both horizontal and vertical markets," commented Mushtaq, adding a prediction that, "Eventually the banking industry will become a leading force in the e-commerce race. During the past few months, we have presented achello and our suite of products to various financial organizations in the United States and Asia. The feedback has been overwhelmingly positive."
For information about the product please visit www.achello.com Contact Sean Trundy at 714-444-1040 or e-mail us at info@alephinc.com
About Aleph Inc: Aleph Inc. is a global provider of proprietary Internet technology. With offices in Los Angeles, Orange County, Boston, Toronto, Karachi, and Dubai, Aleph combines a unique mixture of excellence in software engineering, business management and graphics design, to produce creative, real-world solutions to clients around the world. For more details visit www.alephinc.com
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