ING and Tieto: The impact of virtualisation on Cash Management

OT2 2017-10-19T14:00:00.000Z

Open Theatre 2

Over the past decade, the treasury function has increased significantly. Next to optimising working capital and seeking operational efficiencies, many treasuries now play a strategic role in the organization. As a result, treasury needs greater visibility and control of cash than ever before; it needs to be able to know where cash is, how it is being put to use and whether it could be used more effectively. It’s no surprise that treasurers are searching for ‘a way to do it better’ and take the next step.

Embracing new technologies, analytics and enhanced insights, Virtual Cash Management (VCM) facilitates centralised cash management, visibility and control, without the significant cost or complexity that is traditionally associated achieving these goals. VCM provides multiple levels of cash centralization at any desired level. It’s possible to centralise by country, region, entity, or even on a global level in any desired currency. In addition VCM offers in-house banking, POBO/COBO structures, facilitates straight through reconciliation and reduces manual post-processing.

At Tieto and ING Wholesale banking we are aware of the need for continuation of advanced cash management integration. This session will elaborate how ING’s award winning solution, with Tieto as an enabler, addresses the most vital critical needs of treasures.