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.

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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.

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Specifically:

• Manual Payment Processing: Payments and transfers had to be manually captured and tracked across multiple systems, which was both inefficient and prone to errors.
• Limited Cash Visibility: There was no clear visibility into the organisation's global cash position, making it difficult to forecast cash flow, identify excess cash, and determine funding needs.
• Treasury Management Inefficiencies: The treasury team struggled with managing investment and withdrawal activities, which hindered timely decision-making.
• Fragmented Operations: The absence of integrated workflows across departments created operational silos and reduced overall efficiency.

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The Solution

By leveraging low-code automation tools, our solution offered a comprehensive platform 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.

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The Result

The solution delivered a comprehensive, automated platform for the client's cash management, payments, and treasury operations. By centralising these tasks, the solution provided enhanced visibility, control, and efficiency across the organisation's cash management processes, significantly reducing manual workloads and enabling better business decisions through insightful reporting and forecasting. The implementation established a foundation for expanded functionality, with the capability to integrate additional financial operations and scale across the organisation.

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