Treasury Management Software
FinLync empowers treasury with applications embedded into SAP, eliminating connectivity and integration concerns, reducing the IT workload, and automating common workloads.
Problem
Most treasury management solutions are costly and complex. Corporate treasury software, like treasury management systems, have tended to underperform while being overly expensive and requiring high-cost IT investments, all while failing to automate work or fully integrate necessary data.
Solution
FinLync amplifies the value of your ERP investment. As ERP-native applications, FinLync software eliminates connectivity challenges by connecting to bank APIs, automatically matches incoming data to internal formats, and transforms an otherwise complex IT challenge into a simple plug-and-play installation without maintenance burdens.
CFO
Removes barriers between the business and its banks.
Treasurer & Assistant Treasurer
Facilitates centralized work processes within one common system, your ERP, for control and collaboration.
IT
Maximizes ERP investment with lightweight, nimble apps that live inside the security of your ERP.
Process Comparison: Creating the daily cash position
Without FinLync
With FinLync
Without FinLync Step 1
Find physical tokens (insecure)
With FinLync Step 1
Open FinLync balances app using your existing SAP login name and password
Without FinLync Step 2
Log into individual bank portals
With FinLync Step 2
Refresh the bank data to see available balances per account across multiple banks, all inside SAP.
Without FinLync Step 3
Download files in various formats
With FinLync Step 3
Begin decision making by 9am or earlier
Without FinLync Step 4
Manually consolidate and normalize data from each bank into one document, making sure to avoid keying errors
Without FinLync Step 5
Begin decision making at 1pm
More About Treasury Software
When it comes to IT investment, treasury has lagged behind other areas such as finance and operations. Bank connectivity started in the 1980s and 90s with banking portals. In the early 2000s, we witnessed a cascade of treasury-related IT investments, moving from the generic “treasury software” reference to “treasury tools,” to “treasury workstations,” then “treasury systems” and “treasury management solutions.” All of these platforms help with cash management and liquidity management, but they added more layers of complexity and cost, while reducing technology ROI and increasing the risk of fraud and malware attacks for corporate companies.
All these IT iterations demanded upfront IT investments, required significant financial resources, and depended on host-to-host connections with each individual bank to access data from bank accounts and financial transactions. Companies paid hefty perpetual license fees for these treasury workstations, and had to make additional payments for systems upgrades with the latest functionality. Customer service was an additional cost and implementation was painful and expensive, further hurting overall customer experience.
If treasury wanted enhancements reflecting their best practices, the enterprise – not the system provider – had to pay for it; essentially, each client was paying for improvements that all the other clients would enjoy, a “rising tide lifts all boats” approach that could drown the initiating treasury software client with costs.
Bank connectivity has also changed: host-to-host connectivity was never designed to be real-time detailed bank account data, it was intended to move large batches of bank account data, not individual transaction information. Technology has changed which means host-to-host is no longer the best way to connect to your banks, and those types of connections are quickly becoming obsolete by the newer, faster and more secure technology of bank APIs, making the ability to further optimize liquidity management a reality.
Fundamentally, bank connectivity has changed in recent years thanks to advances in technology and these changes have a significant impact on how companies are approaching liquidity management, bank account management, cash flow and cash forecasting — all of which influences the growth and value creation that the treasury team contributes to the wider business. As it turns out treasury management, treasury software, cash management software, cash management products, cash management solutions providers and even risk management solutions have not kept pace. Many of these treasury solutions have failed to take advantage of new industry advances including bank APIs, security, automation, and collaboration, frequently turning to third-party companies to fill the market need. The result is that the gap between corporates and their banks has been further extended. More layers of separation translates to more possible points of failure, slower data transfer, imprecise cash forecasting, and an increased opportunity for fraud and security issues.
As a consequence, treasurers and their colleagues have had to do much of their work by hand, manually integrating multiple data sources (from different accounts and different banks), matching transactions between bank data and general ledgers, manually tracking payments and fees, even creation of the daily cash position and relying on spreadsheets to manage liquidity.
For efficient treasury management services, you need applications based on pre-built, pre-tested technology that has secure direct connectivity, via bank APIs, to all your banks and bank accounts.
FinLync goes further, using technology embedded within your SAP. As a native application, there are no installation costs or time delays, and you’re able to use your SAP logins and authorizations without duplication or disruption. Our apps access data directly – improving security while achieving real-time visibility, easily. Because they are embedded within your SAP, you enjoy total data integration between incoming rich bank data and your system’s data, resulting in a treasury solution that provides one reliable single source of truth — and easy reporting, bank account management, cash position creation and cash flow analysis, tracking liquidity trends – even across multiple entities or multiple instances of SAP.
Purchasing treasury software without a clear understanding of the total cost of ownership is frustrating and scary. Complicated pricing structures, nickel and dime fees and the black hole of endless implementation timelines and costs is enough to scare even the most intrepid treasury professionals away. Your FinLync apps are continuously upgraded and updated automatically (without requiring IT involvement), and you get guaranteed, unrestricted support. Best of all, FinLync onboarding is fast and simple, providing a clear time to value and avoiding the worry of ever-expanding costs.