13th Nov 2017

Introducing Cash Management

Gathering data isn’t productive, but analysing it is. A new solution aims to do the hard work, while treasurers reap the benefits.

Treasurers and treasury analysts often rely on end-of-day batched statements and multiple bank portals to gather information on cash positions across a multi-banked portfolio.

Roughly 80% of their day is spent gathering data. Which means only 20% of their time is available to analyse & determine accurate positions for investment, says James Higgins, Product Director at AccessPay:

“The result is positioning of funds late in the day, when liquidity has dried up in some markets and returns are depressed.”

Single access point

With this in mind, we’ve created a cash management analytics tool aimed at treasurers of global corporations.

The solution, known as Cash Management, is intended to give treasurers a single access point to all their banking relationships,  providing the ability to accurately deploy cash moves across accounts & optimise the value of company capital.

The information is displayed in real-time using intra-day statements and transactional information.

All the data is aggregated automatically, giving treasurers a single view which can be configured to view balances by currency, bank provider, country, organisational business unit or legal entity.

The product also allows the treasurer to automatically pool funds across providers onto a header or concentration account, “making it easier to invest in the markets much earlier in the day”.

Modern drivers

The product has a natural ally in PSD2, the EU regulation opening the door to the development of many solutions such as this. “But Cash Management does not rely on PSD2 and has a unique design to ensure customers can take control of their data in a single easy to use user interface,” suggests Higgins.

In bringing Cash Management to market as a multi-bank offering, the firm is taking advantage of a number of connectivity and technology options. This, says Higgins, means implementation can be delivered “in just a few weeks” for a multi-bank portfolio. “Very little is required on the corporate side in order to enable Cash Management, and all necessary implementations are handheld by dedicated members staff.”

A detailed delivery schedule of additional functionality for Cash Management has been tabled:

“Our next release includes forecasting functionality allowing corporates to see a projected closing balance and take action. Sophisticated alerting notifies users when, for example, balances and balance sheet movements breach large exposure or liquidity usage limits, is planned. “Beyond that, we move into automated reconciliation and reporting.”