Bottomline Technologies, provider of collaborative payment, invoice and document automation solutions, announced at Sibos 2009 the global launch of Bottomline C-Series, a new set of solutions providing corporate treasury and other finance executives with cost effective and feature-rich capabilities for liquidity and cash management.
According to the company, Bottomline C-Series enables the exchange of real-time information between corporations and banking partners internationally, integrating with SWIFT Alliance Lite, for direct, secure and low-cost access to the SWIFT network, as well as with industry-leading enterprise resource planning systems. The company claims that the system, which is easier to install and is considerably lower in cost than traditional treasury management systems, is ideally suited for organisations seeking a more cost effective approach to domestic and international bank transactions and greater independence from over-committed IT resources.
“When an organisation’s financial supply chain is dispersed across multiple banks and geographies, strategic tasks such as cash forecasting become increasingly difficult,” says Rob Eberle, president and CEO of Bottomline Technologies. “Our exciting new C-Series solution draws upon our unique domain expertise as SWIFT’s technology partner in the creation of SWIFT Alliance Lite and provides additional reach across the enterprise for extended control and visibility of current and future cash flows. With Bottomline C-Series, we’ve leveraged our strategic relationship with SWIFT to bring to market a highly flexible solution set that addresses key corporate treasury needs for optimizing working capital, so that a wider range of corporations can benefit from these tools in a multi-bank environment.”
According to Bottomline, the first two C-Series solutions, C-Series Wires and C-Series Cash Reporting are now available.
With C-Series Cash Reporting, organisations can:
• Leverage industry standards such as Microsoft Excel and SWIFT Alliance Lite to provide global access to intra-day and end-of-day balance and transaction information in a familiar and easy to use manner;
• View near real-time and forecasted cash positions by quickly combining receivables and payables data with balance and transaction reporting;
• Easily identify short-term overdraft risk in under-funded accounts and cash sitting idly on non-interest earning accounts and move funds accordingly to prevent these scenarios; and
• Reduce the risk of errors and fraud, by enforcing secure and controlled access to cash forecasting activities, mitigating the operational risk of insecure spreadsheet usage.
Through the use of C-Series Wires, organisations can:
• Eliminate the need to maintain multiple bank workstations and formats for domestic and international real-time settlement transactions;
• Enable secure payment approval requirements at multiple levels based on individual user business requirements, with flexible limits and entitlements; and
• Create a single repository of payment and confirmation information to facilitate faster queries and tighter integration with back-office systems.