Cash Management
Efficient cash management processes are pre-requisites to execute payments, collect receivables and manage liquidity. Managing the channels of collections, payments and accounting information efficiently becomes imperative with growth in business transaction volumes. This includes enabling greater connectivity to internal corporate systems, expanding the scope of cash management services to include “full-cycle” processes (i.e., from purchase order to reconciliation) via ecommerce, or cash management services targeted at the needs of specific customer segments. Cost optimization and value-add services are customer demands that necessitate the creation of a mechanism to service the various customer groups.
Banks are increasingly becoming innovative and anticipating the needs of corporates towards standardization, ERP integration, reconciliation, real-time reporting, providing an end-to-end view of cash management value chain besides offering the ability to reach and be reached by their own customers. The mounting pressure from competitors forces the Banks to look for an Information Technology vendor who can offer better solutions and services in Cash Management and Internet Banking.
HCL's service offering
As an established market leader in multi-service delivery engagements, HCL's integrated services in Operations Support, Software services and Infrastructure Management services provide customers the benefits of dealing with a single service provider, significantly increasing linkage and reducing governance and management overheads thus resulting in a customer satisfaction on the delivery, product and service fronts.
Keeping in view clients special needs, HCL has set up Cash Management as one of its key sub-verticals. HCL's offerings include various facets of Cash Management in the area of:
- Application design, development
- Onsite-offshore model for providing application management services
- Legacy application modernization
- SOA framework based solution for end-to-end testing
- Application re-engineering
- System Integration services
- Business Process Outsourcing
- Consulting services to select a suitable platform / product
- Infrastructure Management
HCL's broad service offerings are depicted in the following diagram:
Differentiators/ Value Propositions:
HCL has a dedicated Domain Practice Team for Cash Management. This domain practice team consists of bankers & IT professionals from various global banks and techno functionalists who have worked on end-to-end implementation of Cash Management systems for global banks. The practice team supports the product development and project delivery teams by continuous training and industry updates and builds the required competency across the organization.
Some of the other key differentiators of HCL's Cash Management offerings include:
- Experience of executing more than 40 Cash Management projects
- Expertise through Global Implementations
- A strong team of experts supporting Cash Management solutions for top tier banks - handling over 70% of customer interaction for a large European MNC bank
- Facility to approach solutions and services from a domain perspective and to talk Cash Management business rather than just IT
- Domain expertise to take over support of legacy and home-grown third party systems
- Direct interface (upload and downloads) with ERP back-end systems of corporate customers
- Complete STP of more than 90% of transactions through to clearing systems and general ledger of the Bank
- Off-shoring application and infrastructure maintenance to help clients enjoy the dual advantages of cost reduction and quality service to customers
- Re-engineering cash management applications to meet growing need in the SME/ MME segment
- A robust, scalable and integrated system to ensure faster response times to users to handle substantial increase in business volume
- Solution to meet exclusive corporate treasury's needs such as shared service centers, payment factories, transaction processing, treasury reporting, administration, liquidity, receivable, payable, risk, balance and FX exposure management
- Exclusive solution to facilitate customers to reap the benefits of Single Window Interface, and Transaction Processing Gateway, State-of-the-art security and automation of operational and management reporting
- Transformational BPO, constituting Full Process Outsourcing
- Framework accelerators to hasten customer delivery
