BB&T to Offer Integrated Supply Chain Management Service |
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BB&T Corp.
200 W. 2nd St.
Winston-Salem, NC, 27101
USA
Press release date: December 11, 2007
WINSTON-SALEM, N.C., Dec. 11 -- BB&T Corporation (NYSE:BBT) today said it has partnered with business-to-business e-commerce provider GXS to introduce a new integrated supply chain management service.
The supply chain platform, powered by GXS Managed Services, combines BB&T's international banking, commercial finance and payment services functions, and will connect buyers and suppliers around the world.
Clients will be able to finance their supply chain operations in step with the physical production and transportation of goods, reducing both cost and risk. They'll have complete on-demand views of their financial supply chain from purchase order delivery through invoice settlement.
BB&T also will have complete access to its clients' supply chain transactions - whether through a letter of credit or executed directly through open-account terms - so it can identify opportunities to offer risk management, supplier financing and payment processing services.
"With the help of GXS, BB&T is going above and beyond simple financing or payment services to help customers improve working capital, liquidity management and risk management," said Bennett Bradley, manager of BB&T's Payment Solutions Division. "With BB&T, clients will have a common technology platform for all functions - international, payments and financing."
GXS Trading Grid®, a key component of GXS Managed Services, will give BB&T access to supply chain documents exchanged between buyers and sellers - such as purchase orders, purchase order amendments, bills of lading, shipment status messages, commercial invoices and invoice approvals.
GXS Trading Grid is used by more than 35,000 customers to exchange goods and services, gain visibility into global logistics operations and to synchronize product data.
With $130.8 billion in assets and more than 1,500 financial centers in 11 states and Washington, D.C., Winston-Salem, N.C.-based BB&T Corporation (NYSE:BBT) is the nation's 14th largest financial holding company. More information about the company is available at BBT.com .
CONTACT: Paul Houston Baity, Vice President of Payment Solutions, +1-336-605-1624, or Jeff Nichols, Vice President of Corporate +Communications, 1-336-733-1472, both of BB&T Corporation
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