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Industry roundup: 6 April

Barclays adds suite of FX products to electronic trading offering 

Barclays has announced the launch of a suite of new products for BARX FX that are designed to further enhance its electronic capabilities and strengthen its FX offerings for clients. 

Corporate and institutional clients can now leverage BARX Book for FX, the bank’s principal liquidity solution that forms an important part of BARX Gator. The enhanced solution now gives clients access to unique principal liquidity streams, as well as an increased number of external liquidity providers.

In addition, clients can now access Gator Adapt, Barclays’ implementation shortfall algorithm available within the BARX Gator suite of algorithms. This new algorithm allows clients to manage the trade-off between arrival price slippage and execution price risk and clients have the flexibility to choose an execution style, which is intended to minimise market impact for a given level of risk. Furthermore, the bank has also launched BARX Direct, the platform’s improved low latency solution which uses innovative pricing models, predictive analytics, and an optimised co-location strategy.

"These new BARX FX developments are the latest in a stream of enhancements to our BARX platform and we look forward to harnessing the momentum in our business as we continue to invest across all of our e-trading solutions," commented Naseer Al-Khudairi, global head of Markets Electronic Trading and Digital Strategy at Barclays.

 

Intuit and Practice Ignition partner on tax efficiencies 

Intuit ProConnect, from Intuit Inc., has announced a partnership with Practice Ignition (PI) which aims to increase productivity for tax managers. Practice Ignition, an automated proposal and payment management software that eliminates administrative tasks, will work in tandem with Intuit professional tax products, in a move aimed at allowing for a better end-to-end workflow for tax professionals.

By using Intuit and PI together, the pair say that tax professionals will be able to streamline client onboarding with professional proposals and engagement letters, using a flexible proposal editor or proposal options to customise for firm and clients’ needs. Ready to send, pre-made or customised proposal templates allow corporates to collect a digital signature within minutes. It also allows for payment details to be collected upfront, directly within the engagement letter, upon acceptance.

"Using Practice Ignition and ProConnect Tax Online allows us to have a strong workflow when it comes to managing our tax season," said customer Josh Lance, managing partner at Lance CPA Group. "We're able to engage with our clients in PI and work on their tax returns in ProConnect. The ability to do this all in the cloud allows our remote workforce to provide a better customer experience to our clients." 

 

BlackLine AR solution targets strategic and operational corporate decision-making 

Accounting automation software firm BlackLine has unveiled its AR Intelligence solution, the latest offering in its portfolio of accounts receivable (AR) automation tools designed to complement and enhance its broader financial operations management platform.  The firm says the solution enables customers to manage financial risks and opportunities by providing access to real-time, actionable data to help them understand their customers' financial behaviour and use the information to impact strategic and operational decision-making.

Managing debtors and the overall assessment of customer payment behaviour has never been as critical as it is in today's economic climate, the firm says. Businesses need to make decisions based on accurate, real-time intelligence.  BlackLine AR Intelligence takes the strategic value of BlackLine's AI-powered Cash Application solution to the next level by harnessing real-time data and combining it with analytics to improve critical decision-making across the enterprise. 

More than US$187bn of payments were applied through BlackLine Cash Application in 2020.  By adding BlackLine AR Intelligence, customers gain business insights to manage risk, cash flow and collections, as well as real-time analysis and reports. Pre-configured, interactive dashboards display key information such as customer behaviour insights, payment terms versus cash collected, payment forecasting, sales ledger analysis, bank utilisation, and days sales outstanding (DSO).

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