Synovus joins MercuryGate to shorten the shipping paper chase
Shippers and carriers can settle their freight bills faster, without fuss
Columbus, Ga., May 23, 2001 - Two affiliates of Synovus Financial Corp. today announce a joint contract with MercuryGate International, Inc., that will shorten the time it takes to settle transportation payments by up to 90 percent.
DotsConnect, a wholly owned subsidiary of TSYS®, will provide its secure and reliable hosting service for MercuryGate’s revolutionary Transportation Management Suite. Columbus Bank and Trust Company®, a wholly owned Synovus affiliate bank, will provide automated clearing, balance reporting, electronic fund transfers and certain other fundamental cash management functions. MercuryGate is the first corporate customer to access these services online from CB&T®.
Shippers often don’t know the final cost of their freight shipments until months after delivery. Mercury-Gate’s Transportation Management Suite calculates those costs at the point of shipment, allowing users to determine how and when their freight bills are paid. This shortens a paper-clogged process that could take up to 90 days to 10 days or less. And the savings generated from paying carriers promptly means lower freight costs for shippers.
"With DotsConnect and CB&T, we can quickly and securely deliver accurate freight bills, saving shippers and carriers time and money," said Warren Patterson, CEO of MercuryGate, based in Apex, N.C.
"Through the collaboration of our seasoned banking experience at CB&T and our secure and reliable hosting services at DotsConnect, our Synovus companies can offer clients like MercuryGate one-stop service that few other companies can provide," said Olin Wise, chief operating officer for DotsConnect.
Synovus Financial Corp. (NYSE: "SNV") is a multi-financial services company with more than $15.2 billion in assets. With $3.4 billion in assets, Columbus Bank and Trust Company (www.columbusbankandtrust.com), is the second-largest bank based in Georgia. Based in Columbus, Ga., Synovus is composed of 39 banks in Georgia, Alabama, South Carolina and Florida; an 80.8-percent stake in TSYS (NYSE: "TSS") (www.tsys.com), one of the world’s leading payment services providers; DotsConnect, which delivers and hosts online credit card management solutions; Synovus Wealth Management, a marketing unit for securities, trust, insurance and private banking services; Synovus Mortgage Corp.; and Synovus Leasing Services. Synovus is No. 8 on FORTUNE magazine’s list of the "100 Best Companies to Work for" in 2001. See Synovus on the Web at www.synovus.com.
DotsConnect (www.dotsconnect.com), a wholly owned subsidiary of TSYS, delivers and hosts solutions that span the end-to-end interactive account care spectrum — from account acquisition to bill payment. Delivered in a turnkey ASP model, DotsConnect’s products and services are designed to integrate seamlessly with unique e-business environments, bringing all the benefits of the Internet to its clients with minimal effort and investment. DotsConnect Hosting Information Systems is a business segment of DotsConnect that focuses on meeting e-businesses demand for complex/dedicated Web hosting solutions, providing real-time data access, above-standard security and scalable capacity.
Contacts:
Eric S. Bruner
Media Relations
ph. (706) 644-8457