13 Feb 2015
In a recent poll we conducted with global corporates, over half the respondents confessed to still using spreadsheets to manage their general ledger or accounts receivable processes. When we asked them how long, on average, it takes to allocate and reconcile money received in their back office, 39% said it takes 3 days or more, with 16% taking up ...
01 Jul 2014
I attended Shared Services & Outsourcing Week in Dublin recently and sat in on a session called “Increasing Automation to Optimise Existing Technology”. Part of the session focused on improving the cash collection part of the shared service provision for a global healthcare company. The firm presented a case study around the receipt of payment...
13 May 2014
I sat in on an interesting case study discussion at the London SWIFT business forum last week about the use of extended remittance information (ERI) to improve automation of accounts receivable and payable. HSBC, BNP and Orange spoke about a successful proof of concept they carried out which demonstrated the value of using ISO XML messages (specifi...
26 Mar 2014
While innovations such as Faster Payments in the UK have accelerated banks’ transaction processing, many client money managers are still lagging. Manual processes are still prolific and this can result in inaccuracies when matching incoming cash receipts to outstanding invoices with virtual accounts. Regulatory pressure is on the up when it comes ...