Businesses need to quickly and accurately match and allocate transactions, especially where this involves the matching of cash receipts. A good example is the need to quickly match incoming bank receipts to outstanding receivables. The timely completion of this process releases working capital into the business, completing the long cycle of order-to-cash, and may also serve other control purposes (regulatory or policy driven). Manual tick and bash processes remain commonplace, with teams of people often involved in the daily task of matching transactions. Whilst Straight Through Processing (STP), having transactions pushed or pulled to your systems electronically, is becoming more common, the task of allocating and matching remains in many cases largely manual. Existing processes are therefore prone to error and often create major bottlenecks and uncertainty in what is a critical accounting process (for some industries, this is also a critical business process).
Certain industries, such as FMCG, Property, Insurance and Financial Services face heightened issues because their cash flows are cyclical (resulting in periods of extreme activity at certain points of a month or year), complex (resulting in times of highly focused activity around difficult matches) or are customer facing (resulting in customer service issues around despatch of goods, refunds etc.). Automated and highly controlled workflows are essential, but are all too often absent.
Straight Through Reconciliation (STR) and Straight Through Matching (STM) is required to meet these challenges and this is where CTC provides a robust solution. Transactions can be received automatically, enhanced, enriched and entered into a highly controlled but efficient automated matching and allocation process with strong user functionality and oversight. CTC Receivables Matching, CTC Insurance Matching, CTC Property Matching provide a robust solution to these challenges and the opportunity for STR and STM. Where cash management is a complex or critical part of the control equation, CTC Virtual Bank Accounts, can be deployed either alone or alongside CTC Matching technology to provide an overall solution to meet your needs.
|CTC Contract Win|
|June 3, 2013|
|Gresham introduces top talent to support business growth|
|May 28, 2013|
|Gresham grows its Australian business and expands presence across the Asia Pacific region|
|May 7, 2013|
|Annual Financial Report Announcement|
|March 26, 2013|
|Gresham Computing implements transaction and cash control solution for Giveall2charity|
|March 6, 2013|