Organize your Wires and Powerstrips

IT: Helping hand for Corporate Treasury‏

In the last ten years, corporate treasury has been continuously changing and due to the factors like current recession in the financial markets, are seeking help from IT. Earlier, the sector had worked on task-based activities and was often limited by manual processes. But now technologies like online banking, multi-bank reporting, treasury workstations and Enterprise Resource Planning (ERP) solutions help the corporate treasures to compel more value from liquidity than ever before.

Treasury services are the type of investment bank which provides transaction, investment and information services for chief financial officers. It provides trade finance, logistics solutions and other services to its clients, but often remains treasurer's greatest challenge.

Various solutions from IT giants

Various IT giants like IBM, Oracle have provided various solutions for the banks, financial institutions and various capital market entities.

IBM offers a wide variety of banking solutions to streamline your business and its financial needs. The company has collaborated with other big names like Fidelity, Avaya and Temenos. With IBM solutions, you can deliver innovative products to market at a faster rate. The solutions from IBM and Fidelity deliver core business components to meet challenges of retail banking and can help to automate them. The solutions help companies to streamline transaction processing and can improve risk management activities.

If Front Office is your concern, then IBM along with Cisco has solutions for you. They can help you retain profitable clients. The range from Oracle Financial Services Consulting includes set-up for Business Process Transformation, Market Risk Practice, Vendor Evaluation & Product Selection and Treasury Consolidation.

Recently EDS, an HP company, has signed a $30 million agreement with the U.S. Department of Treasury's Office to improve the user experience for the agency's workforce. The company will deploy HP desktops, workstations, notebooks, wireless products, portable printers and scanners to optimize the workplace services.

Bank Treasury Services Priorities

Various analysts suggest that the banks should follow some priorities for treasury services so that they can lead in the future. The banks should have greater focus on deposits and liquidity services, deeper customer relationships, enhanced and distinct products and offerings to its customers with cost cutting and integration. They should also identify new revenue streams and better capitalization on existing ones. In the current year, many banks are working on electronic clearing and payments, and international capabilities, consolidating platforms, streamlining processes and outsourcing.

New technologies for increasing Treasury Services' revenues

Traditionally, treasurer services include cheque-clearing services, wire transfers, ACH payments and DDA services. However, now the treasury products have begun to expand and consist of electronic payments, commercial cards and foreign exchange. Besides this, treasury customers can have online banking with a user-friendly interface, flexibility with analysis tools and an online channel for customer interaction. Various international services are also helping the revenues for treasury services. With the increased globalization and growing international businesses, the banks are asked to support the international banking needs of their customers.

Conclusion

According to various analysts, to unveil the full potential of the corporate treasury services, the organization should follow the priorities and accordingly change their strategies. With a single focus, the corporate treasury can commoditize market with the use of new technologies like multi-bank reporting, treasury workstations and ERP solutions.