Last week at the monthly SF Treasury Management Association luncheon I heard a great presentation from the University of California, Office of the President (UCOP). Its banking/treasury services cover 10 campuses, 5
medical centers, 200 bank accounts and a budget of over $18 billion. Each campus is like a city with thousands of incoming and outgoing transactions.
The UCOP treasury back office faced significant challenges:
- Manual processes
- Lack of effective forecasting ability
- Lack of effective reporting
- Manual enforcement of security and controls
- Most decisions made by individual users, not centrally
They were frustrated with proprietary bank software used for balance reporting multiple times a day at various campuses. UC had to confirm to the work flow setup by their banks. Moreover a multitude of un-standardized interfaces with various banks contributed to a painful, unmanageable process.
UCOP partnered with Treasury Sciences, implementing its Integrated System for Treasury Management with the following features:
- Treasury Cash Management Operations
- Configurable and Secure Electronic Fund Transfer Approvals
- System Bank Balance Reporting
- Forecasting Payables and Receivables
- System enforced Security and Control Management
- Integrated with multiple banks
- Notification and Alert Management System
The solution is elegant in its simplicity, flexibility, and above all, user friendliness. But don't take my word for it, you can learn all about the UC experience at a (free) webinar hosted by Treasury & Risk TODAY. You can sign up here.
(If you miss it, email me and I will share the presentation that UC gave at the SF TMA meeting).