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Archive for tag: FinOps Suite

FinOps Suite Building Blocks

 

 

 

Having FinTP as a starting point, FinOps Suite (our SMEs & corporate treasury open-source software solution) follows the same high-level architecture, but features a new user interface and reworked functionalities and workflows.

 

As its tagline suggests (Making financial operations easy), FinOps Suite is aimed to automate a company’s processes and flows in treasury departments.

 

It is positioned in the center of financial flows within a company, integrating core systems that process financial transactions (Human Resources Application, ERP, EDI, Accounting) and applications connecting to banks, either directly (Internet Banking / Cash Management application) or via market infrastructures such as SWIFT or local CSMs.

 

 

FinOps Suite Key Benefits


  • Consolidation of all corporation/group financial transactions
  • Streamlining operations by:
    • integrating payments from other applications
    • flow automation
    • automatic generation of consolidated reports
    • risk containment of duplicate or invalid payments
  • Reducing fraud-related risks in connection with bank interface access
  • Generating reports and company relevant statistics
  • Reconciliation between payments and bank statements and/or invoices

 

 

Product Features


All custom FinOps Suite configurations / deployments are made up of the following mandatory features:

  • Administration
    • Users and Rights
    • Application Management and configuration (including routing logic, parameters, alerts, validations)
    • Business Management configuration of various lists (partner banks, entities and accounts, partners and accounts, black lists and so on)
  • Application Interfaces – external interfaces to other applications, for importing / sending financial transactions in various structured formats
    • Payments from Back-Office
    • Bank Statements
    • Invoices from Back-Office
  • Transactions Processing
    • Create/Edit Transactions (including enriching them based on the lists defined in FinOps Suite)
    • Transaction Templates
  • Reporting – predefined or customized reports based on persistent data stored in FinOps Suite
  • Audit Trails – ensure the basis for tracking workflows and exceptions or recording user actions within the application, necessary for performing investigations for exceptions or consistency checks
  • Archiving – automates the export of processed data from FinOps Suite into backups (external files), based on criteria specific for each workflow

 

While optional, Reconciliation is a highly sought feature, providing support for automatic or manual matching between two sources of data.

 

 

 

*FinOps Suite is the business name of the software solution being developed within our Treasure Open Source Software (TOSS) project. This project is co-financed by the European Regional Development Fund under the Competitiveness Operational Programme 2014-2020, Priority Axis 2 "Information and Communications Technology (ICT) for a competitive digital economy".

 

 

 


Instant Payments from a Corporate Treasury Perspective

 

 

It's a given that instant payments are no longer a fad, but a requirement, driven by consumers being anchored more and more in "real-time" everything. As such, it comes as no surprise that this trend will also shape corporate treasuries, steadily becoming the new norm in the very near future.

 

 

Where Allevo Stands

 

Last year, we started looking into new customer types, further extending our attention from banks to financial institutions and companies of various types and sizes.


We also started working on an EU-funded project which includes developing a software suite dedicated to SMEs and corporate treasuries, marketed as FinOps Suite – Making financial operations easy*.


As a bonus, we're stepping up the game with an Instant Payments solution for banks, FinTP-Instant, that you’ll definitely hear more and more about in the coming months.


These three magic ingredients make up the perfect recipe to now tackle the subject of instant payments from a corporate treasury perspective.



Instant Payments Benefits for Companies

 

In brief, businesses will benefit from:

  • Improved payment reconciliation process
  • Increased efficiency of e-invoicing
  • Optimized working capital and minimized external financing
  • Predictability
  • Fewer late payments
  • Fast invoice payments
  • Improved liquidity and cash management capabilities
  • Enhanced e-commerce
  • Reduced financial risk


Opportunity alert: benefiting from improved cash flow and immediate payment status update, companies can also achieve discounts for the early settlement of commitments.


Moreover, as instant payments are widely made available throughout Europe, they will become the #1 replacement for more expensive payment methods, such as credit cards, both online and at the point of sale.

 


Consumers want their orders processed un-intrusively and instantaneously, therefore merchants could implement an instant payments solution, passing the demand to suppliers immediately, extending the B2C real-time need towards B2B. Banks play the role of providing a relevant service to their corporate customers, gaining new business, while corporates address the current needs of modern people.

 

The sooner, the better, no doubt about that, so... keen to find out more about FinTP-Instant?

Book an appointment now with one of our consultants and get a head start over the competition! We are open to a quick conversation to help explore business opportunities in the light of options offered by this very interesting market initiative.

 

 


*FinOps Suite is the business name of the software solution being developed within our Treasure Open Source Software (TOSS) project. This project is co-financed by the European Regional Development Fund under the Competitiveness Operational Programme 2014-2020, Priority Axis 2 "Information and Communications Technology (ICT) for a competitive digital economy".

 

 


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