The three things common to all corporate treasury departments today are that they: 1) are being asked do more with same or less FTEs, 2) need to introduce corporate treasury best practice across the whole group which is often called ‘Enterprise Treasury’ and 3) are becoming more strategic in their contribution and impact on the group. This sounds good and sure impresses the CFO and CEO. However, unless corporate treasurer really can connect to and integrate with every part of the group, it doesn’t happen. The integration value and connectivity functionality of your TMS is vital.
TMS suppliers are taking different approaches to this problem of integrating the corporate treasury department with the rest of the group and their suppliers.
FIS, Quantum EE’s supplier, believe that every treasury department is unique in that it relies on data from nearly every other area of the organization in order to manage, forecast cash, and mitigate risk. Because Quantum is often used by the largest, most complex corporates, it has to integrate with multiple other internal systems such as ERPs, trading portals, banks, and other specialized systems. Quantum’s integration functionality is provided with an API for customizations, and is a COM-based programmatic interface to a number of Quantum functions, which open the system up to a wide range of interface and automation opportunities.
Integration with banking partners is standard within the Quantum solution covering clients interested in joining SWIFT, or collecting statements on behalf of clients using their own SWIFT BIC through their own SWIFT bureaux.
For all interfaces / integration that FIS establish on behalf of their clients, they offer managed services to manage these on behalf of their clients. They provide dashboard functionality to clients within Quantum, which allows for them to monitor the status of all integration points and any success / failures.
TMS + Fides combination
Another approach is to combine the TMS with a third party service provider. Fides, the Swiss connectivity provider, has partnerships with TMS providers such as Reval, SAP and TreasuryXpress, e.g. Reval have just been recognised by TMI as the ‘Best Bank Connectivity’ provider.
CTMfile take: The key functionality of any TMS is the integration value: the ability to integrate with multiple other internal systems such as ERPs, trading portals, banks, and other specialized systems, and to your supply chains + to banks and FIs. Low integration value, low impact and low contribution to rest of group.
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