For things you do regularly, minimize the number of transactions and only do them once: Salmon’s app
by Kylene Casanova
It is vital in everyday processes to minimize the number of transactions and keep things as simple as possible. Salmon's, the Dublin based treasury management system supplier, approach to intercompany position keeping is a good example.
An inter-company position is actually two inter-company positions. Company A's position with Company B and the reverse, i.e., Company B's position with A. These are mirror images of each other or at least they should be. Salmon Treasurer holds just one position and depending on who you are when you are reviewing the position, it is presented to you from your perspective. So the corporate treasury department has no inter-company position keeping to carryout.
Salmon Treasurer takes a parallax view of data. It is the same piece of data stored just once and then viewed from different perspectives, e.g. in Salmon Treasurer a ZBA transfer just one transaction and one funds transfer are recorded, AND gives multiple views of the effects, the:
- increase in funds in one bank account
- decrease in funds in the other bank account
- increase in one inter-company position with another
- decrease in the second inter-company position with the first.
There is no recording and reconciling of four transactions and the potential mismatching just disappears because the data is stored just once.
It's called elegant simplicity and comes from the system and database structure.
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