CEB TowerGroup recognizes Global CASHplus as a leader in payables automation for the global market
Fundtech, a market leader in global transaction banking solutions, today announced that Global CASHplus® has been named ‘Best-in-Class’ in payables functionality as well as workflow automation in the CEB TowerGroup technology assessment of the payables automation space.
The rankings recognize firms that demonstrate innovation in business solutions that contribute to automating payment processes and support a bank’s ability to provide a wide range of services to its corporate customers. Key differentiators for Fundtech’s core cash and treasury management solution, Global CASHplus, were highlighted in the best-in-class showcase and included the following capabilities:
- Direct system integration and translation from corporate systems
- Error reduction and duplication detection
- Integrated payment file support and disbursement
- Multi-channel capabilities including desktop, tablet and smartphone devices
- Mapping tools for remittance details
- Single platform for domestic and cross-border payments
- Role-based access control and security
- Overall user experience
“As electronic transaction volumes and regulatory burdens grow, financial institutions are investing in payments automation to improve cost and compliance management,” comments CEB TowerGroup research director Steven Murphy. “Offerings like Fundtech’s provide support capabilities across ACH, wire, check and cross-border payments. Supporting an integrated payment file is one of the top priorities in a modern payables automation system. Executives faced with increased regulatory burdens and slowing industry revenues have shifted focus to more efficiencies across the enterprise.”
“We are delighted with this accolade given to us by CEB TowerGroup analysts. It is a demonstration of the hard work and commitment we have put into making Global CASHplus an industry leading cash and treasury management solution,” says Sanjay Dalmia, EVP Global Cash Management at Fundtech. “We are continuing to invest even further in our solution with broad and deep functionality for the US and global markets, taking onboard feedback from our clients and industry influencers.”
Global CASHplus has been designed by Fundtech to help banks’ corporate customers optimize funds usage across their complex networks of accounts and credit facilities with numerous banks in multiple countries. It is fully featured to support extensive aspects of treasury management such as payables, receivables, corporate liquidity management, cash flow forecasting, financial supply chain management, and also a trade front-end for corporates.
The CEB TowerGroup’s Payables Automation Systems Technology Analysis is not nomination-dependent and is largely based on research conducted by research analysts. The selection process centered on vendors with mature products, globally recognized innovation and multiple large-scale installations with major financial services institutions.