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