http://www.kyriba.com - Automating treasury functions by using a treasury management system (TMS) can bring significant benefits to treasury departments and businesses in general.
Five Reasons for Automating Treasury
New York, NY (PRWEB) August 17, 2012
As businesses are becoming increasingly global in their activities, treasury departments find themselves weighed down with a growing number of banking relationships to manage and a number of basic functions that need to be undertaken on a daily basis.
Automating treasury functions by using a treasury management system (TMS) can bring significant benefits to treasury departments and businesses in general. Below, we briefly look at some of the main benefits that can be drawn from automating treasury functions.
1. Automation saves time
This is perhaps one of the most obvious benefits of automation. Removing the need to carry out basis functions from corporate treasurers frees up their time to concentrate on fulfilling more strategic roles in the business.
Following the global economic crisis, there is a much greater need for treasurers to maintain a strong focus on regulations, risk and cash forecasting. Therefore, it is essential to free up a treasurer?s time to carry out these tasks.
2. Automation enables more effective cash flow forecasting
Using a treasury management system helps treasurers to gain a better level of cash visibility. Businesses using automated systems are on top of their cash position at any time, for any geographical location. All transactions are centralized and treasurers can see where money is coming in and out, 24 hours a day. This, in turn, means they are better equipped to forecast what will happen next.
3. Automation reduces risk
Having a better understanding of a business?s cash position, as well as greater control over transactions, also helps in managing risk. With business globalization comes greater exposure to foreign exchange risk. Working with a TMS, which centralizes all banking transactions, can help to neutralize these risks. For example, a TMS can automatically monitor FX movements and make transaction and investment decisions based on these movements to reduce exposure.
The improved cash visibility and liquidity that automation brings can also help to manage counterparty and other supply chain risks. With factors like customer demand volatility contributing to supply chain risks, ensuring treasurers have a clear picture of cash positions at all times will considerably reduce the impact of these factors on businesses.
4. Automation boosts liquidity
Through the use of an automated treasury system, corporate treasurers can gain greater levels of liquidity within their businesses. With an ever-increasing number of banking relationships to manage, deploying the services of a TMS can help treasurers to achieve a better grasp of their cash position at any time. Transaction decisions can be made more easily, thanks to the use of a centralized banking system that awards better visibility and control for corporate treasurers.
5. Automation means your business benefits from The Cloud
Adopting cloud-based Software-as-a-Service tools offers numerous advantages. The initial advantage is reduced costs. Outsourcing basic functions means that treasury departments need less equipment and technology in-house. Implementing and deploying cloud services is easy and inexpensive, compared with bringing these functions in-house.
Using SaaS tools also means that users get free upgrades whenever they are available, which is a significant benefit at a time when new technologies are emerging all the time.
Share the link to this article: http://www.kyriba.com/knowledge/articles-and-publications/five-reasons-automating-treasury
About Kyriba Corporation
Kyriba is the global leader in next generation treasury solutions in the Cloud. We enable CFOs and finance teams to optimize their corporate treasury functions by delivering fully-integrated cash, treasury, payment, risk management and supply chain finance solutions through a user-friendly, scalable and secure SaaS platform. Kyriba improves visibility and productivity, enabling our clients to minimize risks and have better control over their treasury and finance decisions. With a client loyalty rate of over 98%, we support more than 700 organizations globally including market leaders such as Amway, Electronic Arts (EA), Interpublic Group, PulteGroup, Inc. and Qualcomm. For more information, contact treasury(at)kyriba(dot)com or visit http://www.kyriba.com.
Contact
Attachments
creative writing classes houston essay writing service australia custom essay writer
No comments:
Post a Comment