Treasury Process Maps are pictorial representations of the processes in the treasury department. However, they are much more than documentation tools, for they actually drive business processing. Using Treasury Process Maps, a treasury department may lay out its own specific treasury workflows, by using a simple drag-and-drop facility. Workflows may encompass all IT/2 modules, such as reconciliation, limits, deal verifications, and payment authorisations, along with a range of other elements, such as formalised strategy, policies or procedures.
Once a Treasury Process Map is designed, a user may click on an icon within it and the underlying process element starts. Each user is only able to access the processes for which they have authority, whilst treasury managers have full visibility of the status of all treasury processes. They will also derive comfort from the knowledge that all process activities are audited in real time.
"The process maps will give us an opportunity to streamline and simplify our operations by detailing all of the required activities both within IT/2 and links to other documents and websites, for example our Treasury portal, for a particular process, all on one screen,â comments Adrian Bates, Assistant Treasurer â Operations at GlaxoSmithKline, who has tested the new functionality extensively. He adds: âThis will not only provide completeness but will also help us to reduce the amount of documentation that we will need to maintain."
IT/2 release 5.2 comes with a range of sample Treasury Process Maps for the most common workflows such as transaction processing, settlements, position management, debt management, risk analysis and bank account management. These may be used as they are or as templates for customised workflow design.
Treasury Process Maps are also available in the cost-effective IT/2 Choice offering, which has no initial licence fee.