"GTD will now provide our corporate clients with the type of cash flow visibility and forecasting solution traditionally available only with the purchase and installation of client server-managed treasury systems," said Tom Delany, senior vice president and concentration product manager, Bank of America. "The rollout of Global Treasury Director further enhances a comprehensive set of concentration and liquidity management solutions that we already offer." GTD leverages existing Bank of America systems to seamlessly integrate payment and receipts information and builds on the information using analysis and forecasting tools. Users can access a unified picture of cash flow through the Internet, 24 hours a day and from anywhere in the world.

GTD will allow Bank of America's clients to continue functioning in a familiar spreadsheet environment, but with the benefit of a single centralized database. It consolidates critical cash and liquidity information from many financial institutions into one database, eliminating the time-intensive tasks associated with aggregating data into usable form.

"According to research by treasury consulting firm Treasury Strategies, Inc., companies that are able to more effectively forecast their liquidity can increase their return on liquidity by up to 23 basis points," said Delany. "Our clients can now use GTD to realize this kind of advantage."

Major functions of the service include automated scheduling, balance and detail reporting, personalized cash position worksheets, cash forecasting, funds transfers, interest allocation, general ledger interface and treasury reconciliation. The funds transfer function provides the convenience of initiating concentration and funding transactions using ACH, wire or SWIFT.