TreasurUp has been awarded the title: ‘Outstanding Innovation in Treasury’ in the category Innovators in Finance 2022 through its new Cash Visibility module for small and medium business (SMB) clients of banks.
TreasurUp has developed its Cash Visibility module based on discussions with many finance managers, controllers, treasurers and CFO’s of these SMBs through its bank clients.
“We learned that one of the main starting points of a common treasury journey for payments or hedging is the simple question: what is my cash position today?” Says Philip Costa Hibberd, product manager for Cash Visibility & Forecasting.
“The answer to this seemingly simple question turns out to be more complicated than one would expect when it comes to providing that data accurately”. TreasurUp has developed a smart and easy to use front-end that Commercial Banking departments can provide to their SMB clients, white labeled. It caters for showing cash positions held at that particular bank but also at other banks that the company works with. Users can add any account to their dashboard with an easy self-service flow.
“For that we are using Open Banking technology and aggregators”, says Philip. SMB users can view their cash positions for multi entities, multiple currencies, multiple categories and multiple banks.
The special feature is that the journeys are seamlessly integrated with TreasurUp’s FX hedging module. The company is currently developing a cash flow forecasting module that will take the opening account balances from this Cash Visibility module. The new forecasts that are generated here can be hedged in one go. This way TreasurUp can really help banks to provide a much more valuable proposition to its SMB clients.
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