Total Data Integration
FinLync eliminates the gaps and friction between your fundamental business platform—your ERP—and the bank data you rely upon, eliminating manual work-arounds while improving accuracy and speed.
Problem
Disconnected data obstructs treasury, creates vulnerabilities. Connections between bank data and ERPs have long been a weak point for treasury. Work-around bridges and connectors from third parties are vulnerable to hacking, and inconsistencies in format demand laborious cut-and-paste work for treasury, inhibiting day-to-day progress. Worse yet, key decisions are made based on stale and disconnected data.
Solution
Direct connectivity for deep integration. As an ERP-native app, FinLync leaps over the limitations of legacy technology, embedding incoming multi-bank data directly into your system of record. Removing the barriers between the ERP and banks opens new doors for analysis, and data harmonization reduces manual tasks, allowing treasury to focus on its core work.
CFO
Reduced vulnerability to fraud and reduced number of software systems to maintain and pay for
Treasurer
Enhanced standardized analytics across banks to support better strategic decision-making
Assistant Treasurer
One centralized data location; no broken connections; no manual importing/exporting; greater visibility into cash positions
Treasury Analyst
Avoid copy-and-paste work, easier and faster issue resolution; focus on higher-value activities
IT
Eliminates maintenance/repairs of data connections
Process Comparison: Bank Balance and Transaction Integration
Without FinLync
With FinLync
Without FinLync Step 1
Transaction occurs on account
With FinLync Step 1
Transaction occurs on account
Without FinLync Step 2
Transaction and balance information included in scheduled file creation at a predefined time
With FinLync Step 2
Real-time balance and transaction information brought into ERP
Without FinLync Step 3
File moved to an accessible directory
With FinLync Step 3
Decision based on up-to-the-minute information for all banks across all geographies
Without FinLync Step 4
Middleware picks up and moves file to corporate network or downloaded manually
Without FinLync Step 5
Bank file loaded or bank information input into book of record system
Without FinLync Step 6
Decision is made using information from multiple data sources with various levels of accuracy and timeliness
Common Questions about Total Data Integration
FinLync’s suite of treasury applications allows corporates to completely integrate their bank and ERP data, enabling corporate treasury teams to benefit from real-time payments, balances, account information and status, machine learning-assisted reconciliation the same day as transactions, more certainty for urgent payments 一 while being protected by the latest enterprise-grade security. This is critical, because while the wave of digital transformation has modernized many areas of financial services and accelerated the use of APIs, corporate treasuries have been largely left behind, still relying on static and disparate legacy treasury management systems. In response, FinLync has created a modern solution that delivers the critical information treasury departments need to maximize cash visibility and make better, faster decisions. Bringing the ease and sleek design of consumer banking technology to corporate treasury, FinLync provides today’s treasurers with real-time data in a simple, customizable dashboard. With FinLync, users have a single, integrated view into all of the information they need—with a reduced risk of breaches and fraud. This innovation makes the ERP the single source of truth for an entire enterprise.
As treasury and accounting technologies continue to evolve, the ability to deliver leading edge corporate solutions has become increasingly challenging. In recent years it has been generally accepted that the most efficient and advantageous deployment of treasury and accounting technology for international corporations was a treasury enterprise technology approach. However, with multiple technologies and integration considerations, this practice has remained expensive and time consuming. FinLync has recognized this barrier and has focused on creating business applications that cover a company’s critical cash management and accounting functions.
Having everything in one place you will have more confidence in supporting strategic cash-flow initiatives, including mergers and acquisitions, global business growth, analyzing the changing tax environment, among other strategic company activities. FinLync treasury applications, which includes API connectivity technology, offers comprehensive embedded cash management solutions available in market.
With FinLync’s technology treasury will shift focus from just looking at the past to a more predictive focus. Equipped with FinLync’s applications, treasurers and finance professionals are now able to experience real-time payment processing, machine learning-assisted forecasting and reconciliation, all on a user intuitive platform. Treasury is always changing and we need to adapt. Our goal is to enable a the most nimble, driven treasury.