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Treasury has evolved substantially in recent years from effectively being a cash management function that operated in a largely siloed way from the rest of the organisation, to being a strategic and connected business enabler, whether across cash, liquidity, risk or financing. However, to achieve this transition, treasury needs the right tools to provide automation and control of treasury processes, visibility over cash and risk, and analytical tools to navigate the uncertain environment in which we operate.
Based on the input of our local finance teams, and our vision of a new, world-class treasury function, we developed a request for proposal for potential vendors, and conducted a rigorous evaluation process. Based on this process, particularly from the excellent feedback from the Group Treasurer of one of our biggest customers, we made the decision to select TreasuryXpress.
After that, the implementation process was very rapid, and we quickly achieved visibility over 80% of our bank accounts in less than 10 weeks. We were very pleased with the quality of the relationship with TreasuryXpress and the responsiveness, attitude and abilities of the team. As a result, we are already now expanding the use of the solution, initially to South America. >>>Read more
Treasurers are also requesting systems that are more flexible and better positioned to meet their changing needs [and] are asking for systems which enable them to pick and choose functionality based on their own requirements and that can be easily integrated into other systems used by the treasury. As such, TreasuryXpress has pioneered the ‘unbundled’ TMS solution. The TreasuryXpress solution has been built with next generation connectivity in mind, specifically application programming interfaces (APIs). Most recently, TreasuryXpress launched a payments API called Payments+. The new API delivers an easy, self-service means to automatically generate bank-ready, ISO 20022-compliant payment files from any ERP or TMS. “We rely on APIs to make our technology work and connect to other systems,” says Rahal. “It is all about providing flexibility and optionality to our clients.” >>>Read more
launched its API, Payment+. The solution will be offered in the TreasuryXpress store and supports the creation of payment files from existing ERP or treasury management systems ready to be sent to the bank. The API converts system data into payments under the ISO 20022 messaging format. >>>Read moreReports Wednesday (March 22) said TreasuryXpress has
There are two accelerators driving payments innovation today: transparency and speed. Consequently, these two factors are also top-of-mind for today’s corporate treasurers when it comes to sending and receiving payments, said Anis Rahal, CEO of treasury management company TreasuryXpress. Speed and transparency are the two factors behind TreasuryXpress’ latest update to its treasury management solution, C2Treasury. The updates, revealed last week, focus on helping the treasurer gain visibility into the status of company payments; Rahal told PYMNTS that this was a direct response to one of the most common points of friction treasurers face today. “Ninety percent, I would say, of the [support inquiries] we receive from our clients are, in fact, linked to one single issue,” he said. “When they launch a payment, it travels via the ERP system, and our system delivers it to the bank. During this process, we have a lot of issues coming from the ERP itself, or from the bank, and the client wants to know what is happening, why the payment was rejected from the bank.” This kind of need for troubleshooting demonstrates something critical about the state of corporate payments today: Digital solutions can’t necessarily avoid all issues or errors when it comes to sending and receiving payment. But what digital solutions can do, as Rahal explained, is offer the transparency treasurers need to be able to identify where the problem is coming from — whether it be an issue at the bank, inaccurate information from an ERP system or something else. TreasuryXpress has also targeted the speed at which corporate treasures conduct business, and part of that, Rahal said, is being able to actually deploy TMS tools at a faster rate. “To give a treasurer a system that can go live quickly is the most important thing,” he said, noting that many solutions take several months to deploy. >>>Read more
Treasury management software company TreasuryXpress is giving its corporate clients a payments boost via a new upgrade to C2Treasury. The company announced Thursday (Jan. 5) that updates to its treasury management software aim to improve payments and cash visibility. “With our latest innovations to the payment workflow in C2Treasury, treasurers can now be stewards of change in terms of the speed and performance of their payments,” explained TreasuryXpress Chief Technology Officer Ace Chalhoub in a statement. “With real-time and on-demand visibility and analytics into the entire payment process, the user is now in full control over payment performance from start to finish.” The company said that its upgrades enable treasurers to gain an overall view of payment processing trends, with metrics available for signing speed, payment statuses, expense categories and others. The newest version of C2Treasury also accelerates the rate at which treasurers can send out Payment Notification Emails. In an interview with PYMNTS last September, TreasuryXpress CEO Anis Rahal explained how the role of corporate treasurer and the treasury department is changing. >>>Read More
Cash flow forecasting technology was once only for the massive enterprise, with resources aplenty to invest in such tools and the internal expertise to understand the complexity of it all. But cash forecasting is democratizing to smaller companies thanks to incoming technology, said TreasuryXpress CEO Anis Rahal. He told PYMNTS how forecasting technology is evolving into an incorporated part of the B2B payments process and why that’s a capability SMEs might want to keep an eye on. The benefits to accurate cash predictability are universal across companies of all sizes. Rahal pointed to the ability for businesses to foresee whether they will need to access external financing should they be short on cash in the coming months, key to making payroll and supplier payments, for instance. Or, if a company is slated to be cash-rich in the forecasting model, a business can more quickly work with its financial services providers to plan out investments and obtain better rates, Rahal noted. >>>Read more