About FedEx

FedEx Archives: 1999 Press Releases

( BW)(TN-FEDERAL-EXPRESS)(FDX) FedEx INTRODUCES Invoice Online SERVICE; Customers Will Save Time and Money With Internet Bill Presentment and Payment

    Business Editors

    MEMPHIS, Tenn.--(BUSINESS WIRE)--Dec. 14, 1999--Beginning Wednesday, Federal Express Corp. ("FedEx") will offer FedEx Invoice Online, an Internet-based bill presentation and payment application option that enables FedEx customers to review and schedule payment of FedEx invoices. The service will eliminate paperwork for customers while providing flexibility and a greater degree of control over the bill payment process.
    Companies that choose the service can register at www.fedex.com. Other users within the company can then be added as needed to appropriately manage the invoice review, approval and payment process. FedEx Invoice Online enables customers to:

--	Review FedEx invoices with airbill detail;
--	Review shipment charges;
--	Schedule payments via Electronic Funds Transfer;
--	Request invoice adjustment
--	Create reports which can be downloaded to the customer's PC or mainframe; and
--	Conduct other administrative functions such as updating bank information.

    "FedEx Invoice Online is another example of how FedEx is using the Internet to help customers streamline their business processes," said Tracy G. Schmidt, senior vice president of Finance and Chief Financial Officer (CFO) of FedEx. "Collapsing the time required to process payments or bill other businesses for shipments should help users reap significant savings."
    After logging on to FedEx Invoice Online, the administrator of the account can view a listing of all open invoices with corresponding balances. Invoice detail, which consists of a list of all airbills associated with this invoice, can be reviewed by clicking on the invoice number. The airbill (shipment) detail can then be viewed and sorted by key variables. If the customer approves, payment is made via Electronic Funds Transfer, giving the customer complete control over what is paid and when it is paid. A payment can be scheduled for up to 15 days from the actual date the payment request is submitted to the customer by FedEx. The billing cycle may be set up for daily, weekly, semi-monthly or monthly.
    Invoice Online was developed using the electronic bill presentment and payment capabilities of YourAccounts.Com, the electronic commerce division of Output Technology Solutions, which is a leading processor of bills and statements. YourAccounts.Com is focused exclusively on electronic bills, statements and related recurring customer communications providing application services for large companies.
    Federal Express, a subsidiary of FDX Corp., connects areas that generate 90% of the world's gross domestic product in 24-48 hours with door-to-door, customs-cleared service and a money-back guarantee. The company's unmatched air route authorities and infrastructure make it the world's largest express transportation company, providing fast, reliable and time-definite transportation of more than 3.1 million items to 210 countries each working day. FedEx employs more than 148,000 employees and has more than 44,400 drop-off locations, 643 aircraft and 43,500 vehicles in its integrated global network. The company maintains electronic connections with more than 1.9 million customers via FedEx Powership(R), FedEx Ship(R) and FedEx interNetShip(R). Federal Express reported revenues of $14.0 billion for its fiscal year ended May 31, 1999.

    NOTE TO EDITORS: FedEx Corp. press releases are available on the World Wide Web at www.fedex.com

     --30--DH/na*

     CONTACT:  Federal Express, Memphis
               Sally Davenport, 901/395-3466

     KEYWORD:  TENNESSEE
     INDUSTRY KEYWORD:  TRANSPORTATION AIRLINES E-COMMERCE RETAIL
INTERNET