Three Reasons Treasury Management Systems Integration is Important
Treasury experts across the globe are struggling with disparate systems. Although they are stuck in their daily operations, they usually do not take time to consider ways of improving software connectivity. But, when systems and treasury are disconnected, the treasury will suffer significantly. Here is why developpement de logiciels cloud and systems integration is important in treasury:
Avoid Errors Common in Manual Work
A lot of treasury professionals use spreadsheets as their primary technology. But, with the evolution of treasury operations, spreadsheets won’t be able to keep up with the global structures and complex systems. Treasury professionals are left gathering data from their global bank portals and subsidiaries in their spreadsheets even if they are not sure about the accuracy of this data.
A lot of financial experts are used to working with applications where there are not smooth data exchanges between software modules. A treasury system lacks integration if it requires keying of the same data in various modules or provides reports and analysis where there are missing data from some modules. This kind of inefficiency can happen because of workarounds, heavy customization, or old programming approaches. When treasury does not have system integration, its system will not perform well, negatively affecting its overall operations.
Peripheral systems in treasury lack integration. A good treasury management system must communicate with its surrounding IT infrastructures like ERP systems, bank portals, matching and trading platforms and others to ensure treasury personnel does not copy data from one system to another.
Aside from being painful, manual work is time-consuming and keeps finance experts from adding value through financial analysis and reporting tasks. This makes it important to revisit the treasury technology setup in an organization. Those working with tools such as spreadsheets which don’t support data exchange or struggle with system integration should assess their options.
Fortunately, cloud treasury platforms are available to cover a wide spectrum of capabilities that include cash, risk management, and liquidity, as well as hedge accounting. When the number of interfaces is reduced significantly, many connectivity problems are resolved up front. Providers of cloud software focus on client experience. They continue to invest in system integration and work with the community to provide end-to-end workflows. They improve connectivity and usability to minimize human intervention, as well as help treasuries work in a more efficient and secure way, helping the entire organization save money.