KORUS: Treasury

Treasury - the automation system and operational management of financial and economic activity of the company.

The standard solution Treasury is developed for operational management of financial and economic activity of the company. It gives the chance of synchronization of receipts and a funds expenditure by means of planning of the sequence of commission of financial transactions.

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"Treasury" implements a full stroke of management of cash flows: planning, execution, control and analysis. Thereby maintenance of solvency of the enterprise at the most rational management of own, attracted and loan money resources is provided. The complete information about cash flow allows to predict their future volume.

Functionality

• Planning of receipts and leaving of money. Regular planning of future receipts and leavings of money is necessary for maintenance of the current monetary balance by forecasting of payment receipts on months, weeks, days. Correctly constructed forecast allows to calculate timely volumes of external financing, a necessary reserve of liquidity on any timepoint.

• Limitation of use of money. Limitation of use of money allows to limit benefits amounts monetary on items of expenditure. In activity of any enterprise it is possible to select items of expenditure which more can influence activity of the enterprise and those which influence is not significant. Therefore it is very important to understand and in time to check where and why money leaves. The mechanism of limitation of a funds expenditure (DS) allows the chief financial officer to be sure that money which were planned for payment to the prime vendor will not be spent for office supplies.

• Creation of requests for payment. There is a convenient mechanism of creation of requests on the basis of several versions of documents sources.

• Approval of requests for payment. The mechanism of flexible configuration of schemes of an approval of the request for payment allows to approve requests according to different schemes, depending on purpose of payment and the amount. If the amount is insignificant, payment of the request requires only confirmation of the head of department. If the amount of the request exceeds the set threshold, then in addition to the head also the Financial controller should approve the request. This mechanism allows to delegate responsibility for insignificant payments to subordinate heads and to enter the necessary number of levels of control where it really is required.

• Processing of outgoing and incoming payments. Integration with the Client Bank. Bidirectional integration with the Client Bank allows to reduce time of sending payments to bank (repeated information input about payment in the Bank client system is not required), to minimize input errors at the expense of an exception of duplicative input in Bank client and to reduce input time bank statements to several seconds (time for import of the bank statement to MS DAX).

• Analytical reporting. The solution Treasury contains the preconfigured reports for monitoring of the major financial performance. A system supports formation of the turnover balance sheet on group (maintaining several legal persons) in cuts of accounts and the analyst, and also the turnover balance sheet on the legal person on clients/suppliers in cuts the analyst, agreements, partners. The solution helps to receive the consolidated statements on structure and ages of payables.

Advantages

• Increase in efficiency of passing of payments and accuracy of the data due to automation of key business processes of the enterprise regarding treasury
• Control of the budget and target expenditure of means thanks to the multistage system of an approval of requests for payment
• Considerable reduction of time of payment processing and errors of operators due to integration of software with the system of Client-Bank
• Effective management of cash flow due to timely obtaining operational and analytical information