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Selecting and Using Treasury Systems for Effective Control - Publication
Today’s treasury environment is more challenging than ever. With a new or renewed focus on governance, regulation and risk management, the treasury has to use technology in an appropriate way to achieve the greatest value. In previous handbooks, we have looked at technology, focused on the process of defining requirements for a new Treasury Management System (TMS) and looked at evaluati... |
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The need to manage information - Article
One of the difficulties for treasurers in the electronic age is managing the quantity and quality of information necessary to do the job. The case of the cash flow forecast illustrates the problem perfectly. In those companies where cash flow forecasting is critical, the detail provided is vital. But there is always a trade-off between getting timely information and accurate information. Accur... |
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The importance of record-keeping - Article
As treasurers increase their use of technology, they must also ensure that adequate records of all their activities are kept. From a corporate governance perspective, it is important that internal and external audit teams can identify a clear trail of activity. CEOs and CFOs will also want to ensure that such a trail exists so that, when they affirm the level of internal controls for Sarbanes-Ox... |
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Foreign exchange trading developments - Article
One of the key developments over the last few years has been the increased use of technology in treasury. Treasurers now use electronic means of communication as a matter of routine. Many companies have been making and receiving payment information through proprietary electronic banking terminals provided by their banks for a number of years. Treasurers access market data through dedicated info... |
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Firewall - Article
If a central treasury uses the Internet to communicate with group subsidiaries, then it needs to ensure that unauthorised users cannot gain access to the treasury’s computer network. If the company communicates via a private network, only authorised users will be provided with access to it (usually through the provision of a dedicated line). If a company communicates over the Internet, it means ... |
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Managing treasury security - Article
Over the last few years, the efficient treasury has become ever more dependent on technology. Banks, system suppliers, software companies and corporate IT departments have all been developing technology in such a way that processes can be standardised and automated. It is the introduction of standardised processes that means a central treasurer can exercise remote control over subsidiary operati... |
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Online identity theft - Article
Online identity theft is a fast growing international crime. Online thieves target users by stealing sensitive data via the Internet or using techniques which tempt the victims to unwittingly disclose information. This can range from bank account and credit card details to usernames and passwords. In the case of businesses, it can include employee, supplier and client information. Details can ... |
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Internet authentication - Article
The growing number of cases of online identity theft emphasises the elementary requirement for businesses to be able to perform online interaction and transactions in a secure environment, leaving no doubt over the identity of all participants. The process of verifying the identity of another party over the internet is called authentication.... |
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Real Time Nostro - Article
Nostro accounts are accounts that a bank holds with another bank, usually in a foreign country and in a foreign currency. Real Time Nostro is a software application that allows banks to share nostro account data in real time. In the past, banks have been reconciling their nostro accounts, using end-of-day reconciliation statements. Real Time Nostro gives banks the ability to reconcile their nos... |
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e-invoicing - Article
e-invoicing is a technology solution for the paperless handling and processing of business to business invoices for goods and services. It has been around for several years, but so far the take-up has been relatively slow. Despite the numerous advantages it has over paper invoicing, the majority of corporate invoices are still paper-based and obstacles to the adoption of electronic invoicing and... |
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Email policy and compliance - Article
Most companies now have systems in place to control employees' access to information on both the internet and internal electronic files through established authentication mechanisms. However, the use of email remains mostly unrestricted. Users are often able to send any message they want, regardless of the content, to whomever they desire. ... |
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Payment Innovations - Article
Technical advances have enabled technolgy companies to offer customers an ever more dazzling array of products and services in recent years. The spectacular explosion of the internet, in particular, has resulted in many companies revolutionising the way in which they conduct transactions, handle information and communicate with their customers and banking partners. At the same time, the uptake o... |
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Treasury Management Systems - an overview - Article
We look at Treasury Management Systems and how they can be used to meet many of the challenges facing the corporate treasurer. ... |
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When to replace your system - Article
Technology has become increasingly important within the corporate treasury in recent years. Treasury Management Systems (TMSs) have become widespread in corporate treasuries of all sizes. The automation of treasury processes (and the subsequent audit trail generated by this automation) that these systems provide has enabled treasuries to perform more complex tasks than before while complying wit... |
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Choosing a TMS - Article
The selection of a TMS appropriate for your treasury is an important task. Choosing a system which is incompatible with the needs and environment of your treasury can have disastrous results. We set out the structure for the three major phases that all TMS selection projects should include and explain how some of the common pitfalls can be avoided.... |
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Alternatives to Treasury Management Systems - Article
The current focus on governance and risk management has increased the reliance of many treasuries on technology. Achieving a match between the requirements of the treasury and the technology in place is key to the success of the treasury department. After all, the purpose of treasury technology is to make treasury operations more efficient, freeing up the treasurer to focus on more complex tasks... |
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Zipping and unzipping files - lossless data compression - Article
As companies tighten restrictions on the attachment sizes of emails, everyone will need to know how to zip and unzip a file. This article explains how this process works and why it is useful. We look at the various programs which can be used to zip and unzip files and outline the differences between them.... |
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Treasury management systems – reporting - Article
Choosing the right treasury management system (TMS) to meet the treasury’s reporting requirements can be a difficult task. Many treasurers continue to depend on spreadsheets for this aspect of the job, but the pitfalls of this approach are well documented.
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TMS versus ERP - Article
When deciding between a treasury management system (TMS) or the treasury module of an enterprise resource planning (ERP) system, treasurers often have to weigh up the high functionality of a TMS and the improved visibility that comes with an ERP system. Both have their benefits and disadvantages, but do the positive aspects of one outweigh those of the other?... |
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Assessing your TMS requirements - Article
Implementing and maintaining a treasury management system (TMS) is a significant investment. Assessing the treasury’s requirements before commencing the selection process will help treasurers to avoid costly and time-consuming mistakes. We suggest 10 steps that treasurers should take when evaluating their TMS needs.... |
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Evaluating and selecting a treasury management system - Article
In previous articles, we have looked at a variety of issues impacting on treasury management systems. This month we consider the factors that should be taken into account when selecting a new TMS and provide a practical guide to the process that should be followed.
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Treasury management systems: implementation - Article
In previous articles, we have discussed a variety of issues impacting on treasury management systems and the factors that should be taken into account when selecting a new TMS. This month, in the final article of this series, we look at the process required to implement a new TMS successfully.
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E-money - Article
The electronic money market has developed more slowly than expected and is far from reaching its full potential. To address this situation, the EC recently announced proposals to facilitate market access and encourage technological innovation. We look into e-money, its different forms and how the new regulation will change the current market.... |
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Mobile payment technology - Article
Financial institutions and mobile phone operators are looking into ways to harness the convenience and global reach of mobile phone technology to provide financial services. We look at the different types of payments that can be made using mobile handsets.... |
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Reducing costs through improved STP - Article
Improving straight through processing is a critical element of any procure-to-pay project
and is a key concern for corporates looking to enhance internal efficiencies in turbulent
market conditions.
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