The easy road to CTPs

Article Abstract:

Corporate trade payments, through systems such as those provided by the Automated Clearing House, allow companies to pay bills without writing checks and to receive collections on accounts without processing checks. Despite the significant dollar savings available from such ACH systems, the National Automated Clearing House Association reports that only 37 U.S. companies use corporate trade payments. Among these 37 companies is Irving Trust Company of New York. Irving Trust employs a personal computer to initiate ACH transactions, and estimates are that the costs related to such ACH processing of payments amounts to $2 per transaction, as opposed to check processing costs of between $4 and $7 per check or funds transfer costs of from $5 to $10 per transaction.

Management, Case studies, Innovations, Services, Technology application, Electronic funds transfer systems, Cash management, Cash flow, Collection (Accounting), Bank management, Accounts receivable, NACHA - The Electronic Payments Association, Irving Trust Co., s

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How fast do I need to know?

Article Abstract:

Same-day, real-time, on-line reporting from banks appears to be a suitable technological improvement for transaction reporting. An examination of these capabilities reveals that their use is of questionable value in some areas of corporate cash management. Managers can verify by real-time processing that transactions originating from their own terminals have been completed without delay. Corporate cash managers must determine their actual needs for full descriptive information and precision timing. The internal system of a bank and the completeness and reliability of the data from it should be understood and evaluated before purchasing the service.

DEPOSITORY INSTITUTIONS, Banking industry, Information management

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Reasserting disbursement control with microcomputers

Article Abstract:

Today's microcomputer technology enables treasury managers to control each disbursement that passes through the accounts payable system. The new generation of disbursement management systems offers a number of control features, including: optimal selection of banks for each payable, check clearing time data bases, bank-class assignment, assignment to a vendor's bank, control and modification of all disbursement parameters, audit and security controls, ability to react to changes in check clearing patterns, multiple site check production, automated clearinghouse and corporate trade payments, and cash forecasting.

Software, Accounting, Accounting software

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