Challenges
The business challenge impacting the profiled company’s treasury management capabilities that led them to evaluate and ultimately select Bottomline Cash Management and Payments
- Limited visibility into cash and liquidity positions
- Manually compiling large volumes of bank statements
- Increased payment risk due to manual payment workflows and weak approval protocols
- Inability to run and deliver timely financial reports to key stakeholders
- Decentralised bank account management
Results
Performance improvements since starting to use their Cash Management and Payments solution:
- 100% cash visibility and positioning
- 100% payment processing and security
- >75% liquidity management and utilisation
- >75% reporting and information sharing
- 4-6 months to achieve 100% bank connectivity with Bottomline TreasuryXpress
- Helps efficiency and productivity of team
Agree that Bottomline improves cash liquidity management in the following areas:
- Reduces missed payment risk
- Improves payment security
- Helps improve the “cost of payment”
- Optimises payment workflows
Agree that Bottomline improves operations, technology, and administration in the following areas:
- Integrates with ERP to automate seamless and secure financial data flow
- Establishes multi-bank connectivity for automated and secure bank data collection
- Centralises bank account management
- Helps manage and reduce bank fees
- Improves controls and audit trails
