Bottomline Technologies has announced the global launch of its C-Series, a new set of solutions that are designed to provide corporate treasury and other finance executives with cost effective and feature-rich capabilities for liquidity and cash management.
Bottomline says that the solution enables the exchange of real-time information between corporations and banking partners internationally, integrating with SWIFT Alliance Lite, for direct, secure and low-cost access to the SWIFT network, as well as with industry-leading enterprise resource planning systems. Billed as easier to install and lower in cost than traditional treasury management systems (TMS), the solution set is designed to be suitable for organisations that are seeking a more cost effective approach to domestic and international bank transactions and greater independence from over-committed IT resources.
The first two C-Series solutions, C-Series Wires and C-Series Cash Reporting are now available. With C-Series Cash Reporting, organisations can:
- Leverage industry standards such as Microsoft Excel and SWIFT Alliance Lite to provide global access to intra-day and end-of-day balance and transaction information in a familiar and easy to use manner.
- View near real-time and forecasted cash positions by quickly combining receivables and payables data with balance and transaction reporting.
- Easily identify short-term overdraft risk in under-funded accounts and cash sitting idly on non-interest earning accounts and move funds accordingly to prevent these scenarios.
- Reduce the risk of errors and fraud, by enforcing secure and controlled access to cash forecasting activities, mitigating the operational risk of insecure spreadsheet usage.
Through the use of C-Series Wires, organisations can:
- Eliminate the need to maintain multiple bank workstations and formats for domestic and international real-time settlement transactions.
- Enable secure payment approval requirements at multiple levels based on individual user business requirements, with flexible limits and entitlements.
- Create a single repository of payment and confirmation information to facilitate faster queries and tighter integration with back-office systems.
In addition to the new product launch, Bottomline has announced a partnership with Deutsche Bank to serve as the technology provider for the bank’s new web-based outsourced check generation initiative. Designed for Deutsche Bank’s financial institution clients, this hosted offering leverages Bottomline’s WebSeries platform to provide a solution for requesting, approving and printing checks and remittance information locally, across multiple currencies and in a format to clear locally in the beneficiary’s country, hence minimising fees and clearing times. This is the latest engagement between Deutsche Bank and Bottomline focused on increasing payment efficiency, and will allow Deutsche Bank clients to accelerate payment cycle times.
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