Home » Cash Flow Management & Forecasting » Payment & Collection Factories

Payment factories - key lessons

At the Eurofinance Conference in Rome there were several presentations on payment factories which showed key features of effective payment factories. 

Integration with the in-house bank: AkzoNobel's Marco Schuchmann in an excellent presentation showed how the in-house bank and payment factory need to be fully integrated into a fully straight through processing architecture to maximise the internal and external efficiencies, see Figure.

Akzo Nobel Straight Through Processing Treasury System Architecture
Source & Copyright©2011: AkzoNobel

Payment factories cannot cover all types of payment: Several speakers pointed out that you have to accept that payment factories cannot cover all types of payments, such as payroll payments, dividends and e-tax payments which are country specific.

New ways to extend the value of the payment factory in the future: Providing purchasing support services. Adopting e-invoicing to open up opportunity for invoice discounts from the suppliers.


This item appears in the following sections:
Cash Flow Management & Forecasting
Payment & Collection Factories

Comments

No comment yet, why not be the first?

Add a comment