A new lens on cash visibility
In order to learn more about improving the quality of your payments data, please click below to download the full article, jointly published by The Corporate Treasurer and VISA.
There is a vast body of data and surveys to support the theory that corporate treasury departments are woefully unprepared to tackle the complexity of handling their company’s cash. Visibility is often cited as a major pain point that prevents treasury from progressing beyond the more basic services they should be providing.
In fact, where there is a lack of research – and where there really should be more – is establishing the sources of where the cash problems are.
The reality is when treasurers say they lack confidence in their cash management strategy, what they really mean is that they lack confidence in the quality of the data that is coming through to them.
With this in mind, it best to start at the beginning of the chain. Like other former back-office financial processes, accounts payable and accounts receivable have gained prominence in recent years within the broader confines of working capital management.
Inadequate control and visibility in the payables space can cause all sorts of bother, not least the possibility of non-compliance and even fraud. Working with a payment technology solutions network that offers you a 16-digit account, you can trap and transform payments data into workable information that can benefit treasury all across the spectrum...