To successfully navigate today’s challenging digital era, it’s important that your company’s treasury management solution can keep up with rapidly changing markets and evolving customer needs for smarter decision making and better financial risk management.
The business climate is changing faster than ever before, and a commercial off-the-shelf product can only get you so far. A customizable smart treasury management solution that is constantly being updated and adapted to your business’s specific, developing needs will give you the leg up you need to stay competitive in today’s fast-paced business climate.
Why go smart?
Excel spreadsheets may be easy to use, but they’re not sophisticated enough for advanced forecasting that incorporates treasury best practices and leading-edge AI. Because spreadsheets require data to be entered manually, they also present endless opportunities for the many employees at your company who perform unsupervised and non-audited tasks to make errors that can lead to poor decision making and costly mistakes.
With a smart treasury management solution, you can consolidate your Excel files to use best management practices, eliminate the need for manual data entry, and centralize your operations and cash flow data to better manage your day-to-day business and make smarter decisions faster. You can also streamline and automate your processes and operations, automatically providing an up-to-the-minute view of your liquidity positions.
Harnessing the power of advanced AI means you can reduce error-prone manual entries and provide expert advice to make better financial decisions, reducing risk by setting controls with alerts to instantly detect potential fraud and react rapidly. You can also maximize the efficiency of your treasury team by collaborating in real time with your coworkers using secure connected systems.
Where to start?
At AZUR Group, our team of expert treasurers has developed a multilingual, flexible solution for Canadian companies that can be customized to meet your specific needs. EFS, a smart treasury management solution, was developed by local treasurers for treasurers. This SaaS product focuses on banking connectivity and cash forecasting,
allowing you to replace the inefficient Excel spreadsheets that so many treasury departments use to determine cash positions with various banking partners with a solution that gives you access to features that are always evolving with your needs and are being updated every month.
When it comes to cash flow forecasting, EFS lets you predict your cash flow with a high degree of precision through an intuitive and effortless smart rolling forecast that is automatically updated with AI algorithms (categorization, reconciliation, prediction) based on bank movement history and expert input from treasury analysts, allowing you to optimize your use of credit and investment products. You can quickly determine liquidity positions even if your organization is complex, with multiple entities and currencies.
Make your business processes more intelligent
With EFS, you can get a clear picture of your company’s liquidity through debt (facilities, bonds, loans and commercial papers) and derivative (spot and forward, currency swap, cross currency swap and interest rate swap) modules. This allows you to improve your strategic liquidity planning. In terms of financial risk management, EFS provides a clear, real-time view of your critical data so that you can avoid making risky financial decisions. The solution also applies reports and charts to your data so that you can make better business decisions through business intelligence.
To control, issue and track payment activities, EFS provides a secure cycle of approval processes involving multiple people. What’s more, the solution uses and develops AI to suit your particular needs,
allowing you to tap into the vast potential that lies within your data history.
To keep your business on the cutting edge, new features are constantly being added to your solution. Using the Agile Method, our team of treasury and IT experts will develop features to match your operations so that you stay dynamic and competitive.
EFS provides flexible banking connectivity through different means, such as direct link, SFTP or via SWIFT. As soon as they start their day, your treasury personnel will have up-to-date and accurate cash positions at their fingertips through the application’s bank statement importation processes. They can also analyze cash positions with ease through reports that automatically manage multi-currencies, multi-divisions and multi-bank account scenarios.
Make your financial processes smarter
Companies rely on key financial information from their treasury departments to make critical business decisions. In today’s fast-paced digital era, Excel spreadsheets can no longer keep up. You need a treasury management solution that can harness the power of your financial data in real time so that your company can respond quickly. You need a smart solution that will continue to grow with your business. To learn more about EFS and how AZUR Group can be your partner in improving your treasury operations, visit this website.