Citi has launched a working capital analytics service, which the bank says “combines highly effective diagnostic capabilities, with innovative visualisation technology, and real-time interactive features to deliver enhanced visibility and insights across an organization’s complete supply chain.”
Designed to support the needs of large and multinational corporations (MNCs), Citi Working Capital Analytics helps drive strategic decision-making for a company’s treasury, procurement and shared service center organisations.
The new tool provides in-depth analysis across a company’s entire supply chain, and enables clients to dynamically interact with their payables data to explore customised recommendations for driving working capital efficiencies, process automation and reduced supply chain risk.
The service builds on a proprietary analytics service first launched in 2010 in North America, and complementary analysis tools available today in Europe, the Middle East and Africa (EMEA). It supports hundreds of analyses for clients seeking ways to drive working capital optimisation, commercial card rebate opportunities, and lower payment-processing costs.
“We recognise that ongoing technological innovation is essential to help our clients better adapt their operating models to shifting market and business demands,” said Naveed Sultan, global head of treasury and trade solutions.
“The launch of this new industry-leading, interactive capability is aligned with our aim to be the world’s leading digital bank that harnesses digitisation, technology and analytics to provide differentiated value to our clients.”
There are various ways for financial institutions to benefit from advanced technologies and business models provided by FinTech's. Whether a business' approach is radical or incremental, data management can help a company to increase their return on investment, argues André Casterman, INTIX.
Due to the low interest rate environment and Basel III regulation many corporate treasurers, who may have in the past been very reliant on the banking sector to provide them with cash management solutions, have been forced to explore alternative options as banks have been refusing short dated cash deposits.
Far and away, the largest financial market on the planet is the foreign exchange currencies market, where on average individuals and organisations trade more than $5 trillion daily. In the FX world, the ability to master the market isn't considered a luxury for treasury officers–it's a necessity.
Apps are a critical part of treasury's shift into mobile banking as 67% of treasury and corporate finance professionals said mobile banking services are of particular interest to them in a recent survey.