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.”
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However, a London summit on the industry’s introduction of the technology cautions that testing and acceptance are still at an early stage and firms should proceed with caution.