Building Integrated Digital Treasury & Payment Solutions 

By Jackie Rebrovic in Enterprise Integration Posted Jan 23, 2018

The business landscape for treasury services is changing rapidly as many of the same underlying technologies driving digital transformation across industries are starting to be deployed in the treasury business ecosystem. A Digital Treasury Ecosystem, where the CFO makes real-time financial decisions is becoming the expectation, rather than a “nice to have”. In such an ecosystem, organizations will expect all digital products and services to be integrated.

treasury services blog image-01.pngWhile business objectives will often remain the same, the means by which treasury services achieve these objectives will change via the adoption new digital technologies. These technologies, once implemented, will create an integrated ecosystem that leverages advanced capabilities and analytics to enhance decision making and drive actions that are delivered with minimal human touch points.

UNDERSTANDING THE VALUE OF INTEGRATION
To delight customers, there needs to be a comprehensive range of services offered such as lockbox, credit card and ACH payments, to online and mobile payments — and more is yet to come.  The biggest challenge for many organizations is reconciling treasury services with their accounting and ERP systems in real-time, and without time consuming manual processes.

An integrated treasury platform that can handle any payment type from any payment channel and is easily configurable allows for an efficient interface with, and enhancement to, back-office accounting systems. Unfortunately...

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A fully automated, integrated treasury platform can efficiently and effectively serve customers when they have a question whether it’s about a check, a mobile payment or anything in between. Plus, the staff will no longer need to look at two, three, or even four disparate systems for information to serve the  customer – it’s all available at their fingertips in one location.


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DON'T SETTLE FOR OUT-OF-DATE, SILOED PRODUCTS
Banks’ internal operations and customer tools have become more and more fragmented. Unrelated systems and products gradually become a burden on how banks operate and serve customers. And it's a problem that costs...

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By building a "true" integrated treasury solution, banks and credit unions can enable their corporate customers to handle any payment type from any payment channel. A true integrated treasury solution supports the initiation, acceptance, processing and posting of all transactions from a single, unified platform. It gives you oversight, reconciliation, reporting, and an agnostic connection with your back-end accounting or ERP solution, all on one platform. 

BENEFITS OF A TRULY INTEGRATED PLATFORM
With an integrated treasury platform you can transform customer relationships, gain a competitive advantage, and reduce overheads. An integrated platform let's you offer customers:

  • Streamlined receivables processes via a single platform
  • Reduced AR costs through automation of processes and posting to back office systems
  • Straight-through processing, via the ability to accept, process, and reconcile payments in a single process, from a single platform
  • Deliver enterprise-side AR oversight to better mine data or trends, gaining improved business insights and real-time visibility into their entire receivables stream via a single, unified interface
  • The advantage, convenience and cost savings of cloud based solutions – no more onsite hardware and software to physically manage, freeing up resources and time for activities that are the core of your business

Want to learn more about building integrated digital treasury and payment solutions and how Cloud Elements can help? Get your copy of our latest eBook below.

 

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