GM revs up its EFT engine

Article Abstract:

General Motors (GM) is streamlining administrative operations and cutting overhead to try to stay competitive, and one tool which it is actively developing in that area is electronic data interchange payment systems. No manpower savings have been demonstrated yet, but GM's director of world-wide banking and US cash management, Fritz Henderson, says that GM hopes to have most of its product suppliers on-line by the end of 1988. A group of eight banks led by First National Bank of Chicago are working together as the core of the GM payment system. GM is under a management edict to cut white collar head counts by 25 percent by 1990.

Automobile industry, General Motors Corp., Technology application

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Measuring up for the top financial jobs

Article Abstract:

Concern over increased acquisition and merger activity coupled with global financial market developments affect what companies seek in corporate CFOs and treasurers. Breadth of experience, strong business sense, and an understanding of innovative financial markets are in demand. Analysts are divided as to whether the traditional balance of power between treasurers and controllers in the hunt for the CFO post is shifting to the treasurer. An unchanging fact of recruitment is that companies favor financial management experience gained within corporations.

Methods, Management, Practice, Corporations, Chief financial officers, Career development

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Corporate trade payments get a big push from Uncle Sam

Article Abstract:

In July 1987, the Treasury Department will use automated clearinghouses (ACH) to pay companies that sell goods and services to the government. This system of payment should encourage the development of standards for ACH systems and lead to broader use of automated clearinghouses by businesses. An explanation of how ACH works, bugs that have been found in the system, and how the system will be implemented by the Treasury Department are included.

Innovations, Bank clearinghouses, United States. Department of the Treasury

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