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Unleashing the full potential of Shared Services

Unleashing the full potential of Shared Services

Shared service centers are used for the purposes of driving efficiency by managing common activities centrally to eliminate redundancy across the organization and leverage economies of scale. In the Finance world, the most common activities that are handled via shared services are accounts payable, collections, invoicing, account reconciliations, etc. – in a way even centralized corporate functions like tax, treasury, legal, etc. are shared services!

Even though most organizations have shared services within Finance these days, very few shared services appear to be truly optimizing their full potential! This lack of optimization can either be a result of sub optimal scope or sub optimal processes!

Sub optimal scope and sub optimal processes

Sub optimal scope refers to cases where some but not all activities that can be centralized are being managed by shared services or else even though activities are centralized, all business units are not covered – some units continue to perform the activities locally. Sub optimal processes refer to scenarios where the shared services processes are not being run in the most efficient manner, either in terms of execution or in terms of the fact that they do not eliminate various redundancies – process redundancies, systemic redundancies or data redundancy …. They are NOT Lean!

Most of the issues related to optimizing shared services stem from the fact that various business units and operational components do not operate on a standard platform – managing processes for entities operating on different ERP systems poses the biggest challenge – this issue is further magnified in case of companies that grow through acquisitions as integrating platforms is by far the biggest challenge for them!

In many cases data is exchanged through manual and/or semi-automated means – like exchange of data dumps, periodic file imports. In some cases, the shared service teams end up working in multiple systems to run their processes. In many cases, even where system integrations do exist, these are often discrete and “band aid” type connections that need to be managed individually and need extensive maintenance!

Shared Services Performance Objectives - McKinsey

Let us look at a few best practices we have implemented to alleviate some of these challenges and improve the effectiveness of financial shared services towards our LeanCash™ approach

Shared services are not always deeply integrated with inbound and outbound processes

Shared Services Integrations

The key is real time (or near real time) integration across disjoined systems and platforms to deliver seamless connectivity and exchange of information. Shared services have a bunch of stakeholders and it is essential that they have seamless integration with all of them, both on the inbound and outbound sides to operate effectively. To list a few of the relevant stakeholders:

  • BU’s and organizational components they service – to collect POs/invoices/vendor and customer details/contracts – to convey communicate payment schedules, I/Co accounting entries
  • Treasury – related to payment processes and cash forecasts
  • Banks – related to transactional processes
  • Vendors and customers – to resolve disputes, update payment instructions
  • Accounting teams and organizational GL systems – accounting entries related to shared processes

Central Data Management is key to a successful shared services implementation

Shared Services - Central Database Management

Considering the volume of data that flows in and out of a centralized shared service function, it is essential to maintain a central data repository that acts as the “single source of truth”. This facilitates efficient reconciliation of transactions across platforms and eliminates differences across various organizational ledgers.

Efficient File Mapping

As multiple platforms are integrated, it is essential to back that up with efficient file mapping/conversion routines on the inbound side as well as reverse mapping on the outbound side to enable seamless exchange of information across systems by standardizing data sets from multiple systems and platforms. This almost acts like an interpreter translating data and information across systems that speak different languages, so that they all have the same understanding!

Centralized Process Hub

Shared Services - Centralized Process Hub

In a complex setup described above with multiple interfaces, it is essential that the functional shared service folks are able to run and manage the processes in a simple manner oblivious to the intricate system architecture. This can be accomplished by providing a user friendly front end/interface that works like a turnkey setup to ensure transparency across complex system connections – think of it almost like a cockpit that allows pilots to operate a plane effectively without needing to know everything in detail about the build!

Shared Services - Arthur AndersonOrganizing a financial shared services operation using these key factors can almost enable them to leverage to a large extent the benefits of serving an organization that is on a common integrated ERP like SAP or Oracle!

Geek Speak

APIs – the secret sauce for integrations

  • Given the number of APIs we’ve exposed and consumed from various systems over the past decade or so has enabled us to maintain best practices and define standards in the API world. We use open source and secure platforms like https://swagger.io/ to test APIs with various IT teams.
  • We rub some DevOps monitoring tool <Road to DevOps series> to ensure the APIs are ‘healthy’
  • Logging all API requests (in and out) with timestamps enable us to stay on top of compliance and security

Legacy Integrations

We maintain systems that are ‘old’ but stable (when was the last time you heard a security breach on an AS400 system?!) – File mappings, EDI, SWIFT, XML and other formats are essential and we know a thing or two coz we’ve seen a thing or two or as the insurance commercial will put it here — https://vimeo.com/150181996

 

 

 

 

Medullus LeanCash™ is a tried-and-tested solution that draws upon lean concepts to streamline Corporate Treasury by eliminating waste in processes and functions which helps to manage liquidity and risks in the most optimal way. 

Our products and services are geared towards making improvements in Treasury & Finance processes to bring big gains with minimal impact. The low hanging fruit is sometimes difficult to find in a large organization with myriad of processes and systems. Take the 1st step in identifying these high value/low risk improvements – get your LeanCash score, benchmark against other organizations that have obtained their score and improved them. It does not cost anything to find out where you are as compared to industry-best-practices! 

Start here

 

 


Blog post by: Tejnain Singh. Reach Tej @ tsingh@medullus.com

Tej is a seasoned treasury and finance professional with over 17 years of extensive experience across organizations like GE, Deloitte, SABIC and Valeant Pharma. He has held senior positions in treasury operations and cash management and has led multiple strategic initiatives in the areas of payment automation, treasury system implementations, business process simplification and shared financial services among many others. Tej is a Chartered Accountant from India.

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Treasury and the mobile revolution

Treasury and mobile apps

Corporates are yet to embrace mobility

These days’ mobile apps seem to be everywhere – there are apps for just about anything! However, a closer look at the mobile revolution would show that the majority of apps are geared towards P2P and B2P segments – B2B apps are few and far between and it seems that this technology is yet to catch the attention of corporates in a big way. There are some mobile options available today for use by corporate executives for business purposes – but for the most part these are either generic apps that are rolled out across multiple clients (one size fits all model!) which limits their functionality or else these are desktop apps that have been retrofitted for mobile use which makes them cumbersome and not easy to use.

Many tech pundits argue that in the not so distant future, mobile technology is expected to make PCs obsolete and redundant – this may be true, but treasury (and finance) seem to be a long way away from getting there! For this to even come close to becoming a reality in this domain, the entire ecosystem needs to start moving in this direction – key treasury and cash management products like TMS systems, FX trading platforms, etc. need to be built with mobile access as a prime design feature!

5 areas for mobile adoption in treasury & finance without big disruptions

LeanCash Mobile - TemenosDespite, the challenges addressed in the preceding paragraph, we feel there is still considerable scope in leveraging custom built mobile apps for various treasury and finance functions to streamline and make their operations Lean. Let us look at some areas where mobile solutions can be used effectively.

Approvals

There are a bunch of approvals that treasury and finance executives are required to process on a day to day basis – FX trade approvals, payment approvals, bank account administration approvals, workflow approvals, etc. In many cases these approval requirements tend to become process bottlenecks especially when senior executives are traveling. Mobile apps can greatly simplify the process by securely integrating with key finance and treasury systems and platforms to enable approvals through mobile devices.

KPIs & Dashboard

Another strong use case for mobile apps is in the area of treasury and finance executives being able to access their dashboard and key KPI’s over their mobile devices – this can be especially useful for real time reports and decision making where such solutions can empower executives to stay informed and take decisions while on the move! This can be accomplished either by integrating an already existing reporting solution with the mobile app or else developing a mobile centric reporting and BI solution (See LeanCash™ reporting solutions)

Manage Workflow

Integrated apps can allow users to manage all aspects of their workflows from mobile devices – view workflow status, take action on workflows and tasks, assign new tasks and view all reports associated with workflows. This, again can be accomplished either by integrating with an already existing workflow management and BPM solution or else developing a mobile centric or mobile friendly workflow/BPM solution (See LeanCash™ workflow and BPM solutions)

Alerts and Notifications

LeanCash Mobile Alerts & NotificationsMobile apps can also be a powerful tool for receiving real time alerts and notifications. These alerts could pertain to multiple functional areas and/or process updates – new approval requests, updated report availability, key market updates, workflow updates, etc. The mobile apps can be integrated with the key treasury and finance platforms and processes to enable seamless real time alerts and notifications. These alerts can be fully customized to suit the executive and organizational requirements – definition of who receives what alerts, level of alerts, notification options, privacy settings, etc.

eWallets/Digital Wallets

As digital wallets/e-wallets are gaining traction amongst corporate users, this is another application that can be integrated very effectively within the custom built app. Integrating eWallets with custom built mobile apps is relatively much simpler since this technology has been developed with mobile access as a key factor.

 

We expect the use of mobile apps in the finance and treasury space to continue to evolve in the coming years, but it’s still not too early to start using this technology to add substantial value to key activities – this utility is only expected to grow as the ecosystem evolves and over time more and more functions can be integrated with mobile apps.

Medullus Geek Speak

A picture is worth ….  Let us send you the Sales Order!

LeanCash Mobile Notifications

Our LeanCash™ Notification engine relies on Microsoft’s Cloud enabled APIs to deliver important messages on your palm …. Swipe Left to approve / Reject with comments!

 

LeanCash Mobile - BI at a glance

BI at a glance provides the key metrics you need on the go !

 

 

 

 

Medullus LeanCash™ is a tried-and-tested solution that draws upon lean concepts to streamline Corporate Treasury by eliminating waste in processes and functions which helps to manage liquidity and risks in the most optimal way. 

Our products and services are geared towards making improvements in Treasury & Finance processes to bring big gains with minimal impact. The low hanging fruit is sometimes difficult to find in a large organization with myriad of processes and systems. Take the 1st step in identifying these high value/low risk improvements – get your LeanCash score, benchmark against other organizations that have obtained their score and improved them. It does not cost anything to find out where you are as compared to industry-best-practices! 

Start here

 

 


Blog post by: Tejnain Singh. Reach Tej @ tsingh@medullus.com

Tej is a seasoned treasury and finance professional with over 17 years of extensive experience across organizations like GE, Deloitte, SABIC and Valeant Pharma. He has held senior positions in treasury operations and cash management and has led multiple strategic initiatives in the areas of payment automation, treasury system implementations, business process simplification and shared financial services among many others. Tej is a Chartered Accountant from India.

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Optimized (and Lean) Payment Processes

Medullus LeanCash™ payment automation solutions

The electronic payments revolution is underway!

Electronic payments have been around for over a couple of decades and almost every organization globally from Fortune 500 corporations to small mom and pop shops use electronic payments for sending and receiving business payments. Despite the exponential growth of electronic payments, US continues to remain one of the largest users of checks – demonstrating that there still exists a large potential for further consolidation! Banks are introducing new payment products that is further fueling the electronics payment footprint – the biggest and by far the most successful of these initiatives has been SEPA payments across the Eurozone – back in the US, same day ACH is a relatively new product that is slowly gaining traction as a viable alternative to ACH and wire payments.

In terms of how organizations use and make electronic payments, there is a whole spectrum of how manual or automated these processes are depending on the size and systems footprint of organizations – starting with payments made manually over bank proprietary electronic banking platforms on the one end to fully automated SWIFT enabled solutions on the other end.

LeanCash -

Payments Automation - Volante

Existing payments automation systems are mostly inefficient or under-utilized

Some level of automation around payment processes is quite common these days across organizations of different sizes – most commonly for treasury and/or A/P and A/R processes. However, a closer look at these automation processes throws up many inefficiencies and waste in terms of design, structure and application.

  • Multiple, fragmented payment processes and payment related systems
  • Lack of standardization in file formats and connection protocols – ERP, TMS and in-house systems generating different payment formats and connecting to banks in a multitude of ways
  • Multiple connections to from different components within the organization to the same banks
  • Lack of central visibility to all payments and associated processes
  • Processes based primarily on bank proprietary formats and connections – making companies very dependent on their present banking providers
  • Redundant teams managing and monitoring disparate payment related processes
  • Legacy and native systems with unsupported enhancements – making the system rigid and non-scalable
  • Using outdated file formats that create limitations on data that can be transmitted and received Vs using SWIFT XML formats like ISO XML20022 that are more scalable and flexible

Why more organizations are moving towards payment hubs to bridge the gaps

To address the inefficiencies addressed above, organizations are moving towards adopting payment hub models – payment hubs were originally used by banks to centralize their payment messaging, but are now being increasingly used by corporations similar goals.

Payments Automation - McKinseyPayment hubs act as the focal point that centralizes the receipt and transmission of all payment and financial messages in and out of the organization regardless of payment type, format or geographic location.

  • On the enterprise side it integrates with various disparate payment and cash management systems that include ERP systems, A/P systems, A/R systems and treasury workstations to receive payment files and information for transmission to banks and transmit information and data received from banks such as electronic bank statements, payment confirmations, lockbox data etc.
  • On the outbound side it connects with various banking partners globally to transmit payment files and receive electronic bank statements, lockbox data, payment confirmations/acks, rejection notifications, etc.
  • By virtue of enabling enterprise wide centralization, payment hubs are able to optimize payment processes by eliminating waste and redundancy and streamlining and standardizing payments processing across all enterprise applications, payment types and banks.

Medullus LeanCash™ payment automation solutions

As part of our LeanCash™ offering set intended to streamline treasury and finance function, we offer a full service turnkey virtual payment hub development and setup to ensure maximum optimization of your enterprise wide payment processes. Some of the features of our solution includes:

  • Seamless Integration with multiple internal systems and platforms associated with payment and cash management processes and with external providers such as banks, credit card processing vendors and other payment solutions providers – all major connection types and protocols such as FTP, AS1, AS2, AS3, AS4, HTTPS, EBICS (Euro) supported
  • File Mapping & Exchange through our “drag-n-drop” interface – supported formats include standards like EDI, XML and SWIFTNet formats including ISO XML 20022 – custom bank proprietary formats also supported. Efficient file mapping structures allow companies to combine and normalize financial messaging from across disparate systems.
  • SWIFTNet Compliant connections and protocols fully supported
  • Collaborative Implementations including coordination with banks to develop and test file formats and connections as well as working with internal IT teams to ensure compliance with policies and guidelines
  • Alerts and Notifications to control and monitor processes – rejection notifications, payment processed notification, missing bank statements, etc.
  • Inbuilt Controls and Intelligence to spot and flag evident anomalies like duplicate payments or payment files, suspicious payments, etc.
  • Reporting Module and Data Archives to keep track of historic activity and run metrics to measure performance indicators – this can be used to measure internal payment processes as well as measure performance of banks related to payment processes.
  • LeanCash™ Payment Hub Command Center – user friendly and streamlined central front end to monitor and control all enterprise wide payment processes in one place – this allows efficient management of all the connections and enables organizations to build centralized expertise to manage these processes

Check out the Geek Speak section of our blog Unleashing the full potential of Shared Services to see how we use APIs for system integrations.

To conclude, our LeanCash™ payment hub acts as a single gateway for all payment and cash management processes across the organization to increase efficiency, eliminate redundancies, improve control over funds by providing a central view of cash flows and mitigating risks associated with these processes. Also, last but not the least, using the centralized scalable payment hub model makes these processes bank-agnostic to a large degree – reducing dependency on particular banks and their processes!

 

 

 

Medullus LeanCash™ is a tried-and-tested solution that draws upon lean concepts to streamline Corporate Treasury by eliminating waste in processes and functions which helps to manage liquidity and risks in the most optimal way. 

Our products and services are geared towards making improvements in Treasury & Finance processes to bring big gains with minimal impact. The low hanging fruit is sometimes difficult to find in a large organization with myriad of processes and systems. Take the 1st step in identifying these high value/low risk improvements – get your LeanCash score, benchmark against other organizations that have obtained their score and improved them. It does not cost anything to find out where you are as compared to industry-best-practices! 

Start here

 

 


Blog post by: Tejnain Singh. Reach Tej @ tsingh@medullus.com

Tej is a seasoned treasury and finance professional with over 17 years of extensive experience across organizations like GE, Deloitte, SABIC and Valeant Pharma. He has held senior positions in treasury operations and cash management and has led multiple strategic initiatives in the areas of payment automation, treasury system implementations, business process simplification and shared financial services among many others. Tej is a Chartered Accountant from India.

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Case Study: Is your current process of requesting a Bank Guarantee as simple as ordering a pizza online?

Bank Guarantee Pizza

In one of my previous blogs, I had spoken about how Treasury departments are being forced to position themselves as internal service departments that add value to the broader organization rather than existing as black boxes within Finance to perform a set of specialized functions in relative isolation!

Background of the organization

In this blog, I will talk about how we recently helped the treasury department of a corporate client to better collaborate with and service the regional finance teams.

Some quick facts to give perspective before we dive into the solution:

  • The company had a strong global presence and various local subsidiaries were importing goods for which Letters of Credit, SBLC and Bank Guarantees frequently needed to be issued
  • The process of managing these instruments was run locally by regional finance teams, but these were against delegation of a master limit that was centrally managed by treasury
  • They were a highly leveraged company because of which Treasury kept a tight control on all credit instruments to ensure compliance with debt covenants

The problems

  • The local finance teams were often complaining that treasury’s involvement in the process was acting as a bottleneck and making the process inefficient – adversely impacting procurement and production cycles!
  • Treasury did not have an effective way of keeping track of updated statuses of these instruments – number and $ value of outstanding instruments, amounts drawn under active L/C, etc. This also posed a challenge in validating charges associated with these instruments as these were paid centrally from the treasury budget
  • The controllership team did not have a “single source of truth” for disclosure of such instruments in the disclosures for contingent liabilities.
  • The SOX auditors also expressed concerns around proper transparency in the process – since there wasn’t a seamless trail to link each individual instrument to the underlying approvals and the associated documentation.

The Solution – “I Need It”

To provide a solution for the client, we used our integrated business process management platform “I Need It”. Let’s briefly speak about the various integrated functionalities of the platform and how they were used in this situation.

Workflow Management

Workflow Management - AIIMThe first (and the most critical!) step was to design a streamlined and efficient workflow to be used to manage the requisition, approval and execution processes. A quick look at some of the value added features that the I Need It workflow functionality offers.

  • Collaborative design – we worked closely with various functional stakeholders in the process to design the structure and flow for the workflow as well as the data elements to be incorporated. Internal policies, guidelines on roles and responsibilities, approval matrices are also incorporated within the
  • Smart forms – intuitive and interactive input screens that ensure a simple and delightful user experience while ensuring and enforcing completeness and quality of input data and documents. Some of the key components include conditional logic and data validation.
  • SSO enablement – access to the workflows (and platform) was integrated with the standard Single Sign On platform being used by the client.
  • Audit Trail – each workflow is backed by a detailed log of every action along the way – which can be traced all the way to the associated records and document sets
  • Inbuilt communication channelsproviding an efficient and trackable platform for stakeholders to seek information and/or provide updates amongst each other
  • Alerts and notifications – programmable alerts and notifications to alert relevant users on new workflows, action updates, overdue workflows, etc.

Reporting database

The I Need It platform comes with an integrated reporting solution that provides visibility into various components related to the underlying processes.

  • Our client was able to run various reports around L/C, SBLC and Bank Guarantees – list of all outstanding instruments at any point of time (grouped by region, currency, bank, etc.), periodic activity metrics – # of L/C, BG issued by quarter, etc. These reports can be customized to serve different groups – treasury, controllership, technical accounting, internal audit, etc.
  • The reporting database also provides reports highlighting performance metrics for the underlying processes – average lead time for treasury approvals, end to end cycle time metrics, etc.

As a side note, if needed, our solution can also run more advanced reports, like performing quarter end marked to market valuations for these instruments using market data feeds – we had proposed this to our client in this case but this wasn’t a requirement for them!

Integrated document management system

The solution also offers a fully integrated document library that stores various documents collected and generated within the underlying processes – and each document can be linked back to the original workflow(s). Documents are well catalogued using relevant tags making it easy to search and retrieve documents as and when needed.

Collaboration tools

The I Need It solution also comes with a bunch of collaboration tools – couple of items that we implemented for our client:

  • At the end of the month, local finance managers were required to provide a confirmation on outstanding L/C, B/G, SBLC as well as provide updates on utilized/unutilized portion of their open L/C. This was accomplished by creating a submission form – this form pulled data directly from the Reporting database to display the relevant records that local finance managers would use to confirm and update details – these submissions are automatically associated with the original records that are updated.
  • Treasury is also using the platform to collect feedback from the local finance team, so they can better serve the needs of their internal customers and track/improve their processes. This is done via a feedback form provided to applicants and functional approvers at the end of each workflow where users rate their satisfaction levels on a scale of 1 to 5 – in addition once a year a survey is sent to all finance leads seeking inputs and suggestions to improve the process. Outputs from these feedback tools are meaningfully analyzed and presented by the reporting module.

Collaboration & Bank Guarantee

Smart and intuitive Front End and Mobile access

The various functionalities of the platform – workflows, approvals, reports, documents – are accessible from an easy to use standardized front end. The idea is to have a central place from where all the processes and functionalities can be accessed – convenience, transparency and a delightful user experience. In addition, this front end also acts as a Treasury portal where everyone comes for all their Treasury needs – and also a bulletin board where Treasury can publish updates or resources like currency rate charts, interest rate charts for business users to access and download!

Last, but not the least by any means – all of these features and processes can be accessed via a custom built mobile app that is extremely user friendly and as secure as using any desktop device.

Medullus Geek Speak

  • Windows Active Directory was the Identity Service Provider (IdP) and SAML 2.0 was used as security token for the SSO portion
  • This solution is designed on Microsoft stack using MVC design pattern and SQL database – the entire solution was hosted on the Amazon cloud (AWS)
  • All interactions with the database was via WebAPI which we exposed for other applications for integration purposes
  • Currently we are working on some AI algorithms to reduce the wait times (see how we leveraged AI for our LeanCash™ forecasting solution)
  • Agile development with DevOps (CICD) rubbed on it is enabling us to deliver smaller changes quickly in production – this enabled the client to get a best ROI.

iNeedIT

iNeedIt – a LeanCash™ solution for workflow management

iNeedIT™ is highly scalable and customizable

Even though the solution addressed in this blog refers to a specific implementation we did for a client around their L/C, B/G, SBLC, the I Need It platform is extremely flexible and scalable to be able to handle a host of other internal and external processes and collaboration protocols – using all the above mentioned features.

To list out a few other use cases we have implemented for other clients:

  • Bank account administration processes and records maintenance – please see my blog Integrated Bank Admin solutions
  • Cross functional processes include funding requests from business units, FX trade requests, dividends and capital contributions requiring treasury and tax approvals, etc.
  • Internal treasury processes such as payment approvals, FX trade approvals that are often handled via signed paper forms
  • External collaboration processes with parties like banks that are standard and repeatable in nature ex. Payment queries, details on unidentified transactions 

     

     

    Medullus LeanCash™ is a tried-and-tested solution that draws upon lean concepts to streamline Corporate Treasury by eliminating waste in processes and functions which helps to manage liquidity and risks in the most optimal way. 

    Our products and services are geared towards making improvements in Treasury & Finance processes to bring big gains with minimal impact. The low hanging fruit is sometimes difficult to find in a large organization with myriad of processes and systems. Take the 1st step in identifying these high value/low risk improvements – get your LeanCash score, benchmark against other organizations that have obtained their score and improved them. It does not cost anything to find out where you are as compared to industry-best-practices! 

    Start here

     

     


    Blog post by: Tejnain Singh. Reach Tej @ tsingh@medullus.com

    Tej is a seasoned treasury and finance professional with over 17 years of extensive experience across organizations like GE, Deloitte, SABIC and Valeant Pharma. He has held senior positions in treasury operations and cash management and has led multiple strategic initiatives in the areas of payment automation, treasury system implementations, business process simplification and shared financial services among many others. Tej is a Chartered Accountant from India.

Posted on

How LeanCash™ workflow solutions can streamline your processes

LeanCash - Workflow Management

Continuing with our LeanCash™ series, in this blog we will explore the inefficiencies within various internal and external collaboration processes within treasury – and how we can help streamline these using our LeanCash™ Workflow Management offering.

Problems and inefficiencies with treasury & finance process management

Treasury departments along with other corporate finance functions such as tax and financial shared services act as internal service organizations responsible for managing various processes within their functional areas on behalf of the entire organization.

We notice numerous inefficiencies in how these processes are being managed in many organizations – to mention a few:

  • Workflow Management - Industry NewsInefficient collaboration protocols – most organizations use manual modes of communication and collaboration across groups to manage these processes – which is error prone, slow and hard to keep track of as compared to an automated trackable workflow solution. To give a simple example – a business in Australia needs a corporate guarantee that has been requested by a vendor – the local finance manager emails the Treasurer – after no response for a week he follows up and the Treasurer then forwards request to his Assistant Treasurer – the AT sets up a call with the local FM to get more details around the request – a few emails and phone calls later, finally the corporate guarantee is issued in 2-3 weeks!
  • Inefficient records and controls – another key inefficiency that is commonly noticed is the lack of audit trails for such processes as well as robust records around such processes. This often becomes an issue from a SOX compliance point of view. Continuing with our example from the previous bullet – this refers to the lack of a comprehensive list of all corporate guarantees as well as a seamless association to a particular request associated with each corporate guarantee!

What is the LeanCash™ workflow management solution

Our LeanCash™ Workflow/BPM solution addresses these inefficiencies in addition to providing various other value added features.

  • Efficient workflow design – the workflow is designed in collaboration with key stakeholder as well as in line with internal approval guidelines to ensure the most efficient and compliant flow.
  • Smart forms – intuitive and interactive input screens that ensure all relevant information is collected upfront from the appropriate sources to avoid wastage through back and forth communications. Additionally, conditional logic and data validation (including ability to integrate with internal databases) options help control quality and validity of information being input – to ensure things get done “first time right”!
  • Audit Trail – each workflow is backed by a detailed log of every action along the way – which can be traced all the way to the associated records and document sets.
  • Alerts and notifications – programmable alerts and notifications to alert relevant users on new
  • workflows, action updates, overdue workflows, etc.
  • Integrated data lake and reporting – the workflows are fully integrated with an inbuilt data lake that records all data pertaining to the workflows as well as the underlying records. Robust reporting module enables variety of reporting options from the internal data set – which enables efficient storage and retrieval of relevant records as well as performance metrics related to workflows.
  • Integrated document management system – includes fully integrated document library that stores various documents collected and generated within the underlying processes – and each document can be linked back to the original workflow(s). Documents are well catalogued using relevant tags enabling efficient storage and retrieval.
  • LeanCash Workflows - PWCSmart and intuitive Front End – The various functionalities of the solution – workflows, approvals, reports, documents – are accessible from an easy to use standardized front end. This provides an efficient platform for teams to efficiently manage all their processes from one place.
  • Mobile access – all features and processes can be accessed via a custom built mobile app that is extremely user friendly and as secure as using any desktop device – ensuring efficient access to all the functionalities across devices.

This solution can be used just as effectively for managing, tracking and controlling internal functional processes in addition to cross functional and external processes. As an example, Treasury can use this solution to manage internal approval processes such as payment approval forms, FX trade authorizations, etc.

 

 

 

 

Medullus LeanCash™ is a tried-and-tested solution that draws upon lean concepts to streamline Corporate Treasury by eliminating waste in processes and functions which helps to manage liquidity and risks in the most optimal way. 

Our products and services are geared towards making improvements in Treasury & Finance processes to bring big gains with minimal impact. The low hanging fruit is sometimes difficult to find in a large organization with myriad of processes and systems. Take the 1st step in identifying these high value/low risk improvements – get your LeanCash score, benchmark against other organizations that have obtained their score and improved them. It does not cost anything to find out where you are as compared to industry-best-practices! 

Start here

 

 


Blog post by: Tejnain Singh. Reach Tej @ tsingh@medullus.com

Tej is a seasoned treasury and finance professional with over 17 years of extensive experience across organizations like GE, Deloitte, SABIC and Valeant Pharma. He has held senior positions in treasury operations and cash management and has led multiple strategic initiatives in the areas of payment automation, treasury system implementations, business process simplification and shared financial services among many others. Tej is a Chartered Accountant from India.

Posted on

“Green Workflows” & the Responsible Treasury

“Green Workflows” & the Responsible Treasury

The paper problem is not getting smaller!

With so much focus in recent years on saving our planet, there is a conscious effort by individuals and corporates to cut down on use of paper to reduce deforestation which is one of the main environmental problems. Shoppers are switching to reusable bags, newspapers are going digital, service providers are using paperless documents – the list goes on and on. However, despite the electronic revolution, we are still a long way from eliminating paper from our day to day lives in a big way – in fact, demand for paper is expected to double before 2030!

Let’s take a look at a few facts to highlight the magnitude of the issue:

  • It takes an average of 5 liters of water to produce one piece of A4 paper.
  • 93% of paper comes from trees.
  • 14% of all global wood harvest is used to make paper
  • 50% of the waste of businesses is composed of paper.
  • Every tree produces enough oxygen for 3 people to breathe.

Why is paper still a big part of organizational processes

The use of paper is ingrained within organizational processes – be it for maintaining records, recording internal approvals, documenting legal agreements, invoicing – the list is limitless. Traditional audit and forensic investigation methods have always followed the “paper trail” – basically sifting through documents to link associated records that tell the full story of a transaction or event!

Most jurisdictions have laws around retention periods for all business documents that can range from 7 to 10 years. This gave birth to a whole new industry that caters to the demand for document storage solutions – their services range from filing and cataloging documents, transporting documents from clients, storing documents in warehouses, retrieval of documents and finally securely destroying documents. Therefore, in addition to the natural resources that are expended in manufacturing the paper, many other (wasted) resources are spent in organizing, transporting, storing and destroying paper documents.

Green Workflow - global forecast

In recent years, a lot of the document storage solutions have evolved into electronic storage, but the problem with these is that the underlying documents are still paper. The idea is basically to scan paper documents and store them electronically, such that they can be retrieved later when needed. Though this saves on physical storage and makes it somewhat easier to retrieve documents, it consumes tremendous disk storage and isn’t really an ideal solution.

How can treasury and finance processes go green

The real solution lies in redesigning entire processes such that all recording and documentation is done electronically so that the need for paper can be eliminated altogether (for the most part!). Let’s discuss some of the key attributes that these electronic processes need to possess to be able to replace paper altogether.

  • Signatures – one of the main reason paper documents have been hard to replace is due to the ability for them to be signed by individuals that proves beyond a reasonable doubt their agreement, acceptance, acknowledgement or approval and is enforceable in a court of law. Similarly, digital alternatives need to be as reliable and as difficult (if not more!) to fake. Digital signatures and secure logins are popular solutions being used for this today – the security and encryption for such applications need to be robust enough for the associated records and documents to be enforceable as legally binding.
  • Audit trail – various electronic records should be linked to related documents and records and the sequence of events must be retrievable, so that any transaction can be researched or audited at a future point in time. In other words there must exist a robust electronic trail structure that can replace the need for a paper trail.
  • Secure storage and accessibility – since all electronic records are store on disk storage, there must be a system for security and access controls to reflect the sensitivity of the documents and records. In case of physical documents, regular documents might be stored in drawers, but highly sensitive documents would be store in a safe which is accessible only by a select few – an electronic records and documents system must be able to replicate a similar security structure!
  • Referenced libraries – electronic libraries must have the ability to efficiently catalog and file documents and records, such that they can be retrieved at a later point easily and quickly.

Roadblocks to going green

Most modern day electronic processing solutions do offer some or all of these features and are generally more efficient than the paper based processes, so to a large extent there is also a mindset issue that needs to be overcome before we can eliminate use of paper. In addition, there is often the upfront cost of implementing automated solutions that can act as a deterrent for many organizations – paper based processes are cheaper to get started with even though in the long run they prove much more cumbersome and resource intensive than their electronic alternatives!

Roadblocks to going green

 

How the Medullus LeanCash™ Solution gets you to a Greener Treasury

Our LeanCash™ offering “I Need It” is an integrated workflow and business process management solution geared towards corporate treasury and finance teams – it can handle internal and external processes and collaboration protocols and manages all supported processes in a totally paperless way.

  • Access controls include secure login, optional dual factor authentication, ability to integrate with internal single sign on platform of the organization and periodic forced password resets.
  • Each workflow is backed by a detailed log of every action along the way – which can be traced all the way to the associated records and document sets
  • Inbuilt robust reporting platform that that provides visibility into various components related to the underlying processes.
  • Integrated document management system that stores various documents collected and generated within the underlying processes – each document can be linked back to the original transaction or event. Documents are well catalogued using relevant tags making it easy to search and retrieve documents as and when needed.

Ideal candidates for using I Need It would be cross functional and intra-functional processes in treasury and finance such as bank administration, funding approvals, requesting bank guarantees/letters of credit, FX trade requests and many more.

Medullus Geek Speak

Technical ArXamarinchitecture of our Lean Cash solutions are nimble … they are modular and API driven. This helps user requests to be render quickly – which saves energy (and not to mention frustration!). Although we use plug and play solutions which are generic, we use our years of programming knowledge to cut the excess code that is not required.

For example – we use Xamarin for our mobility solutions – it is a part of Microsoft’s visual studio suite and it delivers forms for iOS, Android and  Windows platforms. If your user bases are iPhone users only then our LeanCash™ Team will only deliver the iOS portion of the code – easy to maintain, quicker to render and overall a greener solution !

 

We at Medullus are doing our bit to save our planet!

 

 

 

 

 

Medullus LeanCash™ is a tried-and-tested solution that draws upon lean concepts to streamline Corporate Treasury by eliminating waste in processes and functions which helps to manage liquidity and risks in the most optimal way. 

Our products and services are geared towards making improvements in Treasury & Finance processes to bring big gains with minimal impact. The low hanging fruit is sometimes difficult to find in a large organization with myriad of processes and systems. Take the 1st step in identifying these high value/low risk improvements – get your LeanCash score, benchmark against other organizations that have obtained their score and improved them. It does not cost anything to find out where you are as compared to industry-best-practices! 

Start here

 

 


Blog post by: Tejnain Singh. Reach Tej @ tsingh@medullus.com

Tej is a seasoned treasury and finance professional with over 17 years of extensive experience across organizations like GE, Deloitte, SABIC and Valeant Pharma. He has held senior positions in treasury operations and cash management and has led multiple strategic initiatives in the areas of payment automation, treasury system implementations, business process simplification and shared financial services among many others. Tej is a Chartered Accountant from India.

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Enhanced Cash Forecasting using Artificial Intelligence

Enhanced Cash Forecasting using AI

The problems of cash forecasting

The ability to accurately forecast future cash inflows and outflows has always been one of the biggest challenges for treasurers and finance professionals the world over. The situation has been further exacerbated by the tightening of capital markets in the last decade which has made cash a scarcer resource!

In this blog, we will explore how one of the hottest emerging technology in recent years – Artificial Intelligence – is being leveraged to improve this process.

Problem components of cash forecasting

There are various key drivers of cash flows, but many of the large ticket items like CAPEX, business development, debt servicing, etc. are planned well in advance and generally easier to forecast several weeks out. The biggest challenge is with operational flows – by far the biggest drivers of cash – which are often volatile and hard to forecast with any reasonable accuracy beyond a couple of weeks! This volatility and uncertainty is because more often than not, these flows are influenced by external and/or macroeconomic factors that are outside of the organization’s control!

The biggest conflict is between shared service teams that are unable to commit to firm forecasts typically beyond 4-6 weeks out and treasury departments that generally like to have an average of 3-6 months’ view on cash so they can plan capital position efficiently!

AI driven solutions for cash forecasting problems

So what role can Artificial Intelligence (AI) play in solving this puzzle?

The key element is DATA – using various data points over multiple periods to try to forecast future events – following the popular maxim “The best predictor of future behavior is … past behavior“!

Most manual or semi-automated forecasting models use limited data points and are also influenced by the sentiments of the individuals creating and using the forecasts – and with employees leaving or changing roles, a lot of the intelligence in the process is reset!

With the computing power of today’s computers, AI models are able to slice, dice and analyze large volumes of relevant data efficiently and effectively to create more effective and data driven forecasting models – and the data adds over time making models increasingly intelligent.

Let us take a quick look at some of the main data points that would be relevant in this scenario:

  • Internal data – this would include items like sales data, purchase history, committed orders, cash cycles, payment history of customers, etc.
  • Market data – this could include macroeconomic indicators, industry specific factors, currency rates, etc.
  • Stakeholder data – this could include credit ratings of key stakeholders, stock prices of critical supply chain partners

The above list is merely indicative – our AI solutions assimilate many more data points within the models!

AI driven solutions for cash forecasting problems

The various specified data points are blended together to run complicated and complex computations to factor in seasonal swings, identify and adjust any aberrations – all with an aim to provide more accurate data driven forward looking views!

Before concluding, I would like to state that AI systems are not intelligent enough (not yet at least!) to replace human intelligence, but exist to serve and assist humans in making more informed decisions based on facts.

At the end of the day, AI systems are merely computational tools and do exactly what they are programmed to do! What data points to use – how to use them – what to output – is all driven by the functional procAI and its potential to transform businesses - SAPess owners. You get to decide how intelligent your AI system is and you get to define what intelligence means for you!

Moreover, even though numbers don’t lie, a successful professional with years of experience can often see things that sometimes gets hidden or doesn’t show up in the data – computers still haven’t developed a sixth sense! Many AI models actually have inbuilt functionalities to add specific manual adjustments or override some components of the calculated logic. Bottom line is that the onus is eventually on the subject matter experts to interpret the AI results and decide how it is used!

To sum up, the use of AI on treasury and finance is still evolving, but there is a tremendous potential for its use especially in cases where data and past behavior can be analyzed to provide views on future behavior.

 

Techno Functional Speak

LeanCash AI Engine for Cash Flow

The AI algorithm is a rule-based system developed with the particular firm and industry in mind. The statement of changes in cash flow & market conditions provides another accounting model that has been used by teams to optimize cash flow. The format of this statement can be modified for decision-making purposes. For example, the changes can be grouped by changes in assets, liabilities, stockholders’ equity, cash inflows, and discretionary and nondiscretionary cash outflows. Placing the assets in these categories allows the system to make recommendations based on the information that describes that category of outflows. As with the ratios, the actions and the parameters on which the parameters are based are a function of the firm’s policies and unique needs. Accordingly, LeanCash™ Algorithms would have to be adapted to the unique situation.

 

 

 

Medullus LeanCash™ is a tried-and-tested solution that draws upon lean concepts to streamline Corporate Treasury by eliminating waste in processes and functions which helps to manage liquidity and risks in the most optimal way. 

Our products and services are geared towards making improvements in Treasury & Finance processes to bring big gains with minimal impact. The low hanging fruit is sometimes difficult to find in a large organization with myriad of processes and systems. Take the 1st step in identifying these high value/low risk improvements – get your LeanCash score, benchmark against other organizations that have obtained their score and improved them. It does not cost anything to find out where you are as compared to industry-best-practices! 

Start here

 

 


Blog post by: Tejnain Singh. Reach Tej @ tsingh@medullus.com

Tej is a seasoned treasury and finance professional with over 17 years of extensive experience across organizations like GE, Deloitte, SABIC and Valeant Pharma. He has held senior positions in treasury operations and cash management and has led multiple strategic initiatives in the areas of payment automation, treasury system implementations, business process simplification and shared financial services among many others. Tej is a Chartered Accountant from India.

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Documentation for all our solutions

Documentation for all our solutions

What is lean & action-oriented documentation?

LeanCash™ documentation starts with identifying user needs and then explaining how to achieve specific goals.

We have drawn upon the concepts of agile development where action-oriented documentation is based on user stories. A user story is a definition of a process whereby a goal is accomplished.

Sample User Story: As a power user, I can specify files or folders to backup based on file size, date created and date modified.

Breaking up a feature or a functionality into multiple smaller user stories enables us to

  • Better, manage a project
  • Maximize team capacity (using team velocity to estimate similar user stories)
  • Give stakeholders real time visibility on the progress of any project

Lean Documentation - User Stories

Screen from Our Project Management tool

 

User stories roll up to a feature, which in turn rolls up to an Epic or a Module.

How can documentation be intuitive and interactive

This manner of specifying a requirement takes the guesswork out of testing. It also aligns with the DevOps concept of Shift Left where testing can start sooner (and now with Visual Studio 2017 at the same time as development).

This relatively newer methodology of executing projects has its pros and cons but for our LeanCash™ clients the pros have always outweighed the cons.

As an application architect, I believe the best software design document is self-documenting code and an intuitive user interface – this ensures the documentation is up to date with the all the changes … always. To this end, our collaborative approach towards projects ensures that documentation starts at the very idea level. We record the meetings and sometime attach them (or part of them) to the user stories as links from our Sharepoint where all meeting recordings are stored by default.

Writing, maintaining & reading of user manuals and documentation can be boring so we try to automate as much as possible and use videos for manuals.

Documentation is not an after-thought but is at the core of software development

Documenting the requirements up front in smaller chunks enables many project deliverables to move in parallel ….

  • Quality Assurance team can start writing the Test cases
  • Programmers can start working on the database and APIs
  • U/X can start meeting with the required members on mockups
  • Quality Control can work on the automated test scripts as features are available
  • Technical Leads can audit the coding standards (Visual Studio 2017 has made this even better now!)
  • Server Admins can work with the programmers to setup the environments and agents required for Continuous Integration and Continuous Deployment (heart of DevOps)
  • Project Manager(s) can work with stake holders to decide release management and outline approvers
  • Monitoring can be tested once the environments are ready

Immediate Feedback Loop

 

Coding Standards Enforced

What is intelligent documentation and how does AI factor into it?

As a part of our LeanCash™ solutions, documentation (like Artificial Intelligence) works at the back end producing value to the users. As users are more familiar with a feature (which we can tell by auto auditing), the inline help for them is gradually removed …

Inline Help

Inline Help – this callout will be removed automatically once the user has used this feature a few times

 

When we roll-out our LeanCash™ WorkFlow solution <Leveraging workflow solutions with external stakeholders> we have video walk-thru of the screens – these are typically less than a minute long video with voiceover that explains the end user how to use the features …. We take it a notch up by putting auditing on the video as well – this helps us understand if our U/X is intuitive enough!

 

Our LeanCash™ documentation life cycle is a closed loop implementation from ideas (via our collaboration tools) to monitoring – we use monitoring tools to check the health of the solutions. The monitoring tools such as Microsoft’s Application Insights or ELMAH produces actionable KPIs which we work together with your Operations team to spin up additional resources, inform required members as identified in the escalation matrix or other actions.

Monitoring Tool for LeanCash

Screenshot of our monitoring tool from one of our Clients

 

Are your applications and processes well documented (not only for compliance and certification but for actual usage)? … check out our LeanCash™ Score to benchmark your documentation standards with others in your industry.

 

 

 

 

Medullus LeanCash™ is a tried-and-tested solution that draws upon lean concepts to streamline Corporate Treasury by eliminating waste in processes and functions which helps to manage liquidity and risks in the most optimal way. 

Our products and services are geared towards making improvements in Treasury & Finance processes to bring big gains with minimal impact. The low hanging fruit is sometimes difficult to find in a large organization with myriad of processes and systems. Take the 1st step in identifying these high value/low risk improvements – get your LeanCash score, benchmark against other organizations that have obtained their score and improved them. It does not cost anything to find out where you are as compared to industry-best-practices! 

Start here

 

 


Blog post by: Sam Banerjee. Reach Sam @ sam@medullus.com

Sam ensures Medullus’s drumbeat of execution is in rhythm (heads Operations!) – an IT professional with a myriad of experience across various platforms and domains with significant knowledge in the design, implementation and testing of various systems for organizations as ADP, Bristol-Myers Squibb & Ross Stores. With a Masters in Computer Science from SUNY, Sam leads the Tech innovations within Medullus (Artificial Intelligence, BlockChain, Mobility, BI).

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Collaborative Implementation: LeanCash™ methodology for delivering projects

Collaborative Implementations of LeanCash

As our project list has grown over the last decade and a half … so have our teams, our clients, and our approach to problem solving!

Social media has surely solved one of the challenges we outlined in our Road to DevOps post, i.e. Collaboration.

Interactive collaborative implementations

When business needs an IT project (or task) delivered, cutting the middle folks (‘coordinators’) saves time (and hence money!) – for this the collaboration between the users (business side) and the developers can be captured using a tool.

On a LeanCash™ side we have used the two leading tools in the market now (Jan-2018) – Slack & Microsoft Teams … both have their pros and cons but the underlying features are almost similar and what matters most … helps us stay lean.

LeanCash™ Slack Channel

LeanCash Slack Channel

Using a collaborative method enables us to ensure all ideas and statuses are visible to the project team – this is key for projects where the team is large and changing with time.

In prior years we were using emails which was a pain as key people were left out from the communication chain, bcc-ed folks were left out on reply-alls and above all, people had a deluge of emails on a subject that they were not directly concerned with (imagine a C-level member getting 26 emails on a SQL Connection Time Out Error).

Chat applications like Skype for business or internal organization tools were better but instant availability (‘Hey Paul you there ?’) and lack of proper mobility solutions (specially for the non-commercial ones) were always a challenge.

One of the major benefits using a collaborative platform is at the close of every project we save the project communication on that tool (slack / MS Teams) and send that as a searchable project artifact.

We have turned ideas to discussions to a project work item by using APIs to connect the collaboration tool with our Project Management Tool (Visual Studio Team Services)

LeanCash™ Teams showing a user story created in VSTS

LeanCash Teams

How we reduced waste using interactive collaboration across all stakeholders

Before our collaborative approach, we had project coordinators that used to document the requirements from business analyst – we were able to reduce this waste by embracing collaboration and encouraging the business to communicate directly with development team – their ideas were documented and devops engineers create the requirement in the board (VSTS) as a sticky (user requirement). Project Managers then assign priorities for those requirements based on various factors such as available capacity, team velocity, business needs etc…

Embracing a collaboration tool has been a challenge as we have seen – It needs to be driven (and sometimes mandated too!). Organizations should work towards building a culture of collaboration and communication where nothing is assumed (as they say when you assume, you make an ass of u and me!). Get discussions logged somewhere that can searchable and it becomes an asset … a project artifact.

Collaborative Implementation

Collaborative implementation to project delivery has saved LeanCash™ clients considerable amount of time and money – we invite you to get your LeanCash™ score, benchmark against other organizations that have obtained their score and improved it. It does not cost anything to find out where you are as compared to industry-best-practices for managing Treasury and Finance processes!

 

 

 

 

Medullus LeanCash™ is a tried-and-tested solution that draws upon lean concepts to streamline Corporate Treasury by eliminating waste in processes and functions which helps to manage liquidity and risks in the most optimal way. 

Our products and services are geared towards making improvements in Treasury & Finance processes to bring big gains with minimal impact. The low hanging fruit is sometimes difficult to find in a large organization with myriad of processes and systems. Take the 1st step in identifying these high value/low risk improvements – get your LeanCash score, benchmark against other organizations that have obtained their score and improved them. It does not cost anything to find out where you are as compared to industry-best-practices! 

Start here

 

 


Blog post by: Tejnain Singh. Reach Tej @ tsingh@medullus.com

Tej is a seasoned treasury and finance professional with over 17 years of extensive experience across organizations like GE, Deloitte, SABIC and Valeant Pharma. He has held senior positions in treasury operations and cash management and has led multiple strategic initiatives in the areas of payment automation, treasury system implementations, business process simplification and shared financial services among many others. Tej is a Chartered Accountant from India.

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Blended Reporting Solutions

Blended Reporting Solutions

Deciphering your data in the digital age

Big data is continuing to play a bigger role in the digital age. In fact, it’s actually safe to say that you can’t do business these days without first taking a look at your data.

But sure, you already know that – right? The question here is – how do you actually look at your data? And the answer is simple: By using reporting tools.

Just as the carpenter uses a sharp saw to cut wood, so too should the modern professional use cutting edge tools to analyze their data.

Before we go over the tools. let’s take a look at the two types of data.

 

What is internal vs external data and why are both important?

Whether a business is a fortune 500 company or a mom and pop shop, it generates data from being in operation. We call this internal data. It can include things like total sales, overhead, profit, etc. Internal data helps you run and optimize your business operations.

Then there’s external data. As its name suggests, external data is any data generated from outside of a business. External data most often comes from the internet, the market, or customers. It could be the latest financial markets data such as FOREX and interest rates from providers like Reuters and Bloomberg, news feeds from news providers like WSJ and NY Times, or even relevant opinions on market trends and macroeconomic indicators relevant to the business! External data helps you understand the economy and your position in it.

The problem is that many businesses prefer to rely solely on internal data when making decisions. And that’s where they tend to go wrong. A business can’t make the best possible decisions without considering both external and internal data.

 

Blending Internal and External Data using LeanCash™ BI solutions

Blended Reporting Solutions - McKinseyWhen you think about business tools the first thing that comes to mind is most likely Microsoft Excel. Excel came out over 30 years ago. And although it has received updates since then, Excel is now outdated. Besides that, Excel offers limited customizations. Every business is unique. One size doesn’t necessarily fit all – which is where our LeanCash™ Business Intelligence solutions come in!

Our LeanCash™ solutions for Treasury and Finance features a full service fully integrated Business Intelligence and Reporting solution that is capable of consolidating and blending internal and external data to provides a fuller picture and enables more informed decision making.

  • Integration with your main treasury and finance platforms and source systems to create a central data warehouse that acts as the “single version of the truth” for internal data
  • Integration with market data feeds and RSS feeds (real time and/or periodic feeds) from multiple providers like Bloomberg, Reuters, BusinessWire, WSJ, etc. to compile updated external data
  • AI based algorithms to sift through external data and identify relevant information which is transformed into actionable insight to help you make better decisions.
  • Flexible reporting options to combine multiple available internal and external data sources and components to view custom metrics and KPIs.
  • Customizable Alerts and notifications to notify users on important relevant market events and updates

 

5 elements for successful data and analytics transformation

 

These powerful features are very useful in tracking metrics and risk indicators that are influenced by market movements and macroeconomic factors – such as impact of volatile currency markets on the company’s currency exposures or the impact of certain commodity markets on the stock price of a company!

In short, our LeanCash™ BI so

Data Integration Capabilities - McKinsey

lution helps financial analysts and decision makers:

  • Mitigate financial risk
  • Get real-time visibility of market data
  • Comply with financial regulations
  • Process high volumes of data
  • Embrace the digital age

In this digital age, information is power. The problem is there’s so much of it that we can’t really pick out what we do and don’t need – that’s where our intelligent solution can help!

If there’s one thing that is intended to communicate through this blog, it’s that you can’t afford to rely on internal data alone. If you want to survive you have to keep up with the times (as well as your competitors).

 

 

 

Medullus LeanCash™ is a tried-and-tested solution that draws upon lean concepts to streamline Corporate Treasury by eliminating waste in processes and functions which helps to manage liquidity and risks in the most optimal way. 

Our products and services are geared towards making improvements in Treasury & Finance processes to bring big gains with minimal impact. The low hanging fruit is sometimes difficult to find in a large organization with myriad of processes and systems. Take the 1st step in identifying these high value/low risk improvements – get your LeanCash score, benchmark against other organizations that have obtained their score and improved them. It does not cost anything to find out where you are as compared to industry-best-practices! 

Start here

 

 


Blog post by: Tejnain Singh. Reach Tej @ tsingh@medullus.com

Tej is a seasoned treasury and finance professional with over 17 years of extensive experience across organizations like GE, Deloitte, SABIC and Valeant Pharma. He has held senior positions in treasury operations and cash management and has led multiple strategic initiatives in the areas of payment automation, treasury system implementations, business process simplification and shared financial services among many others. Tej is a Chartered Accountant from India.