July 21, 2023
While many things have changed within the payments landscape over the past decade, one thing has remained a constant: the ongoing push for greater efficiency. Within treasury and finance departments, increasing efficiency means more than just cost reduction; it involves optimizing processes, achieving faster results, and paving the way for innovation. One essential aspect of achieving efficiency in payments and liquidity management is the automation of various tasks, ranging from payment initiation to validation, sanctions screening, format conversions, workflow management, and more.
Managing global payments and cash management across multiple accounts, banks, channels, and formats can be extremely challenging for corporates. That’s why organizations often turn to treasury aggregators like Fides. Treasury aggregators are renowned for their ability to streamline and centralize an organization’s financial processes. They achieve this by providing comprehensive solutions for managing and optimizing cash flow, payments, and liquidity across banking relationships. One of the primary benefits of using a treasury aggregator like Fides is the consolidation it offers. With such a platform, all banks and accounts become accessible through a single interface, providing centralized control and visibility into cash and payments. This centralized platform also allows for the automation of manual tasks, increasing efficiency and security, while also preparing the organization for future growth. In essence, treasury aggregators provide a powerful foundation for treasury and financial services, facilitating treasury transformation.
Centralize and automate payment processes
One of the key advantages of utilizing treasury aggregators is the centralization and automation of payment processes. These aggregators help businesses eliminate the need to log into multiple bank portals, manually enter information into reconciliation spreadsheets, and deal with the frustration of troubleshooting transaction issues. By automating payment processes, treasury aggregators reduce the need for manual intervention at various stages, including transaction initiation, approvals, and reconciliation. This not only minimizes the risk of errors but also frees up treasury staff to focus on more value-added projects, enhancing overall business efficiency.
With Fides Payments, you can centralize all your payment processes with a single, easy-to use platform. This platform supports transactions in any format and through any channel. It ensures that all payments and transaction information, regardless of type, are validated and securely transmitted to global banking partners via the optimal channel, meeting the requirements of all banking relationships. Whether a business needs to make individual or bulk payments, Fides Payments enables safe and secure transactions with just a few clicks, simplifying the payment process and improving efficiency.
Enable global cash visibility to power real-time insights
Another significant benefit of treasury aggregators is the enablement of global cash visibility, which powers real-time insights. The real-time visibility provided by a treasury aggregator is a crucial enabler for effective cash management and proactive decision-making. The Fides platform covers all the necessary elements for efficient cash and liquidity management. It provides a holistic view of an organization’s cash, regardless of the number of banks or accounts it holds. This visibility allows for the analysis of cash positions, initiation of transactions, and accurate cash flow forecasting. With secure access from any location, businesses can make informed decisions based on real-time information.
Overcome the challenges of cross-border payments
Traditionally, corporates faced numerous challenges with cross-border payments, such as expensive fees, slow transaction times, security concerns, and a lack of transparency. However, treasury aggregators like Fides help overcome these challenges. Fides has been recognized as the Best Cross-Border Payment Solution for Corporates by TMI for two consecutive years. It offers flexibility by recommending, establishing, and maintaining the most effective bank connectivity configuration based on each business’s needs and communication channel preferences. This may involve using a single communication protocol, such as SWIFT, or a combination of protocols to optimize costs or meet specific bank formatting requirements. Fides simplifies cross-border payments by validating and securely transmitting payments and transaction information to global banking partners, leveraging the lowest networking and processing fees while ensuring optimal connections.
Reduce risk with robust security features
Security is a significant concern for companies, particularly those conducting international business. Treasury aggregators like Fides address this concern by incorporating robust security features into their platforms. Fides ensures the protection of sensitive financial information through data encryption and multi-factor authentication, safeguarding against payment fraud, money laundering, and other financial crimes. The core Fides solution also includes state of the art sanction screening capabilities, reducing the risk of blocked funds and liquidity loss. It also validates and corrects files prior to release, improving payment accuracy and consistency while ensuring compliance with ISO standards. Additional security features encompass automated rule-based fraud detection, profiling, flagging based on payment history, compliance management, and more.
Become future-ready
Furthermore, treasury aggregators provide organizations with the scalability needed to support business growth. The Fides platform, for example, has a proven track record of supporting high transaction volumes. It processes over $6 trillion annually and handles hundreds of thousands messages every day. By utilizing a treasury aggregator, businesses can ensure their payment processes are scalable and capable of accommodating future growth.
Start Transforming Your Payments Landscape
Fides is committed to the success of its customers, offering flexible options to meet their specific needs. Whether businesses prefer accessing the secure Fides ONEHub or integrating with third-party ERP, TMS, and other backend systems, Fides can streamline payment processes and unlock greater efficiency. Fides works closely with its customers to determine the optimal setup, including hosting and managing the platform or accessing it through the ONEHub web portal. Additionally, Fides integrates seamlessly with all major TMS and ERP systems, providing a cohesive experience.
To learn more about how Fides Payments can transform your organization’s payment landscape, visit www.fides.ch/en/payments or contact Fides to book a demo.
