If you have met with us, or watched either Ravi or I speak about our product suite or if you have spend even a few minutes on our website; you would know that our primary focus is to make sure our customers adopt a solution that meets their unique needs in the lowest possible timeframe.
We understand that most Treasury Management Systems out there provide most features and functionality that a typical organization needs. The challenge is and always has been in meeting those specific needs of a customer in the shortest timeframe possible.
In order to help faster adoption we provide fully functional trials of our product vs. an extended RFP process. We have also discussed extensively about the benefits of Prioritization. To reduce upfront training effort we provide web based videos of each feature within the product suite. From a technology standpoint, the solution was to create a product that is based on standards and one that was configurable.
Typical TMS's support a certain format of accounting treatment per transactions, the more configurable ones let you choose from multiple options they provide. This won't necessarily meet your specific needs. Secondly, if your organization has multiple subsidiaries chances are that you have to do extensive customization (read software development, consultants and time) to get automated connectivity to the multiple backend GL Systems. Finally, synchronization between backend GL Systems and the TMS could take considerable amount of time and resources to implement.
We believe that our solution addresses these issues in the best possible way. The rest of the post discusses these features.
Configurable Accounting Treatment per Backend GL System or Subsidiary
We let you configure the specific accounting treatment fields per subsidiary upfront using a web based interface. So, you can create 2 fields or 10 fields based on how you have setup your accounting system to capture data- essentially meeting the requirements for any backend system. The ability to configure accounting treatments per GL system or subsidiary eliminates customization that is typically required.
Capturing Accounting Treatment Upfront
We believe that the best place to capture accounting treatment is upfront- when you create a payment in EFT or when you create a forecast either using a web based interface or via a bulk upload of transactions or via an automated transmission (details on forecast can be found here). Accounting treatment entered by end users is used in the GL Export after these transactions are processed by the banks (received by our system via automated CD/PD files) - thereby ensuring STP to your GL System.
Rules based application of Accounting Treatment
This is another approach to capturing accounting treatment, via rules that you can create within our system. These rules will dictate what accounting treatment will apply to what transactions.
Standard XML Output to GL Systems
We use XML extensively throughout the product and we use if for our GL Export capability as well. Use of XML provides us the ability to create a standard output that can be easily transformed via adapters into any format- that any backend GL System may need. Note that we could write these adapters for you or you could write it yourself.
GL Synchronization
If you need GL synchronization services - eg: ability to replicate accounts created in your backend GL system automatically into the TMS, the integration is standardized and simple. You can push an XML files via secure web services exposed by our system. Additionally, if there is a need to accommodate true synchronization (changes made in either the TMS or GL, reflected in both systems), that is possible as well.
We believe that the ability to capture configurable accounting treatment, the use of standard formats and transformation capabilities reduce the time to integrate to one or more GL systems considerably. If you would like to hear more about these capabilities of have some questions or comments on our approach, please do let me know.