Introduction
The rapid growth in the volume of Vcoms (commercial payments) being handled by banks is being driven by the development of dematerialised transactions, the growing computerisation of company IT systems, corporate determination to reduce client payment handling costs and the deepening of regulatory frameworks.
In this context, banks addressing a corporate clientele must be able to offer efficient packages for the management of their "commercial payments".
CIBF offers a coherent and functional package composed of independent and complementary models:
- The VCOM management module.
- The VCOM financing module.
Main advantages:
These modules allow banks to offer value-adding services to their clients.
Banks’ use of CIBF’s VCOM Modules allows clients:
- To reduce the cost of supplier payment handling via automation and dematerialisation.
- To offer new supplier deadline management services.
APPLICATION ARCHITECTURE 
How it works
A VCOM is a money transfer for settling a bill. It includes a transfer order and all the relevant payment details (bill references, particulars, addresses, etc.) It is issued in advance of payment decisions.
The client may communicate a Vcom to the bank via:
- An EDIFACT
- Or another format (txt or XML files, etc.)
Standard payment orders are:
- PAYORD (1991)
- PAYEXT (1996)
- PAYMUL
Other non-standard payment orders may require specific processing (V 400 or V1000 formats for example).
VCOM management module
This module offers the following functions:
- Handling
- Monitoring, storage and validation of VCOMs
- Issuing VCOMs that have not received an offer of financing
- Generation of event reporting associated with the handling of the VCOMs
- Management of payment notices
Vcom Financing module
This module allows management of:
- Remitter contracts
- Conditions
- Authorisation control
- Client and supplier data
- Issue of assignment VCOMs
- Generation of reporting on associated events
In cases where early payment is offered and accepted (total or partial), an early payment is issued to the supplier. This payment is made in the form of a Vcom (commercial payment).
Note that under French law the supplier may also request his bank to settle a bill by assigning the corresponding receivable to his bank in the form of a Dailly receivable assignation.
Optional modules
VCOM modules may be accompanied by the following offers:
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