Starting Point: Quality Data
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.
A treasury department that lacks the confidence in its data will suffer from, at best, unnecessary inefficiencies and, at worst, bad strategic decision making, lost capital, and even irreparably damaged customer relationships.
What is more important is that data reaches a treasurer in a condition that is both clean and manageable; the information needs to be from a single and reliable source.
A lack of control over data will make the journey to improve corporate cash visibility practically impossible. Without full control of the input and output numbers mistakes are made.
Through the decision to make payments digitally, treasurers are empowering themselves with the capacity to track and match information that in the past may have been lost in a mountain of paper or mishandled at any stage in the payment lifecycle.