Treasurers Say 2017 Will Be The Year of Cash Visibility
Maintaining an accurate view of cash position was a top concern amongst corporate treasurers attending the Payments International Conference this year.
While not their #1 concern, cash visibility was called out as being a significant cause of job disruption. In short, treasurers are not able to execute on their core responsibilities as a result which is a pretty big problem. This leads to the inability to make decisions based on available cash. In addition, they experience having zero confidence on numbers being reported in real-time.
According to AFP, “just under half of the practitioners surveyed revealed that they plan to seek out new banking partners in 2017.”
How can you support these treasurers? With all these banks in the market to identify a true banking partner, what can you do to stand out?
One way banks are providing solutions to corporate customers is to extend accounts payable automation products that have the capability to sync to the bank account. Treasurers get instant visibility to real-time cash taking into account payments in process.
MineralTree Invoice-to-Pay is one solution banks are offering to commercial customers. Here is a screenshot of how the bank integration and cash view looks:
Learn more about the banks offering this solution to customers:
ABOUT THE AUTHOR
Christina Pappas is the Director of Marketing at MineralTree.
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