Maria Korolov » Entries tagged with "Treasury & Risk"
Cloud Computing Rolls In
New services deliver a range of technology without up-front capital investment. The downside could be giving up control. More than a new buzz phrase to add to the list of client-server, ASP, hosted provider and software as a service (SaaS), cloud computing is a new stage in technology evolution. Clouds provide technology such as software, storage or extra computing cycles more cheaply, more flexibly and with no … Read more »
Citi Launches Banking Portal Extreme Makeover
Citi has begun rolling out its CitiDirect BE institutional online banking platform. CitiDirect BE–short for “Banking Evolution”–is a wholesale rebuild of its existing CitiDirect platform, which was launched in 1999. The upgrade includes more analytics, more customization, automated account opening, user-generated content, a video channel and mobile access. Read full article at Treasury & Risk. … Read more »
Bank of America Rolls Out New Cash Portal
Bank of America’s new cash management portal, CashPro Online, will provide corporate treasury customers with better administrative tools and security, as well as access to more services, including foreign exchange and supply chain financing, and customizable dashboards. “It’s a benchmark industry product,” says Matt Greenough, director of cash management at Detroit-based pizza chain Little Caesar Enterprises. Little Caesar has used the bank’s predecessor products, like CashPro Web, for years and Greenough, as a member of the CashPro Online advisory board, has gotten a preview of the new portal. Read full article at Treasury & Risk. … Read more »
SunGard Cloud Offering Set to Launch
SunGard is set to launch on Sept. 22 a cloud-based, treasury-on-demand product for companies with up to $2 billion in revenue. The new AvantGard Treasury XE aims to deliver support for cash management, foreign exchange, in-house banking, money markets and other transactions to middle-market companies, a new market segment for the treasury software provider. Read full article at Treasury & Risk. … Read more »
Manual AR Slows Cash Forecasting
Treasury departments where manual processes are still prevalent are struggling with getting timely information on accounts receivable, according to a recent report from Boston consultancy Aite Group. That slow stream of data on payments impedes a company’s ability to accurately forecast cash flows, which has become critical in uncertain economic times. For example, paper checks that are not accompanied by remittance stubs must be handled individually to match them up with their invoices, says analyst Judson Murchie, one of the report’s authors. “Until that’s applied, companies can’t count this income as liquidity,” says Murchie. “Someone may have underpaid or overpaid, and they need to figure this out.” Read full article at Treasury & Risk. … Read more »
Virtual Meeting Rush
More companies are using virtual worlds for training and gatherings while new technology aims to make them a mainstream reality. Accountant, CEO and executive director of the Maryland Association of CPAs, Tom Hood might not look like the kind of guy who spends a lot of time in an imaginary world. But he does—at work. And he encourages other accountants to do the same. That’s because MACPA runs continuing education sessions for … Read more »