December 30, 2024

Automated cash management solution

An automated cash management solution built for a financial services group, that centralises treasury operations, payments, and cash flow forecasting, providing enhanced visibility, control, and efficiency while reducing manual workloads and enabling better business decisions.

Business Applications
Financial Services

An automated cash management solution built for a financial services group, that  centralises treasury operations, payments, and cash flow forecasting,  providing enhanced visibility, control, and efficiency while reducing manual  workloads and enabling better business decisions.

Summary:

Our client, a financial services group needed a solution to streamline and automate cash management functions. The solution had to centralise treasury payments and transfers, bank account reconciliation and cash flow forecasting thereby providing the business visibility over cash positions and optimal use of cash reserves.

The Challenge:

The client was facing significant challenges due to the absence of a centralised, automated solution for handling payments, transfers, and treasury management tasks. The lack of a single platform for managing these operations led to time-consuming manual processes and an increased risk of errors. Specifically:

-Payments and transfers had to be manually captured and tracked across multiple systems, which was both inefficient and prone to errors.

-There was no clear visibility into the organisations’ global cash position, making it difficult to forecast cash flow, identify excess cash, and determine funding needs.

-The treasury team struggled with managing investment and withdrawal activities, which hindered timely decision-making.

The Solution:

By leveraging low-code automation tools, our solution offered a comprehensive solution that integrated with various departments, providing a global cash position and automating key treasury tasks. The solution included the following features:

-Centralised Cash Management: The solution consolidated the global cash position across accounts and business units, providing real-time visibility into cash availability, surplus, and funding needs for upcoming days.

-Treasury Management: Functionality was created to allow the treasury team to capture fixed deposit and money market investment and withdrawal transactions.

-Automated Payments and Transfers: Payment instructions are received from upstream administration systems and users are able to upload payments and transfers on the payments platform efficiently.

-Multi-Layered Approval Workflow: Payments and transfers were subject to up to three levels of approval, ensuring that proper oversight was in place depending on the payment type, department, and transaction amount.

-Seamless Reporting: The solution provided detailed reporting capabilities, allowing users to generate business insights and track investment flows, payments, and transfers in real time.

The Result:

The solution delivered a comprehensive, automated solution for the clients’ cash management, payments, and treasury operations. By centralising these tasks, the solution provided enhanced visibility, control, and efficiency across the organisations’ cash management processes, significantly reducing manual workloads and enabling better business decisions through insightful reporting and forecasting.

Kobus Oosthuyzen
Senior Manager: Presales
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