#Finance and Operations

[jatanshahskill]

Jatan Shah Skill Nation | AI in Finance and Operations

For accurate forecasting and fraud detection, finance teams utilise AI solutions and automated bookkeeping applications such as QuickBooks and Xero to perform accounting functions and free up financial professionals to focus on strategic planning in finance.

[gomzdrawfr]

Sorry this is prob weird but I’m imagining Raven and Ghost working at amusement parks (they look like they don’t belong there)

Raven is the kind that counts down and then pulls the lever at the count of 2, smirking under her hat

Ghost is the same, but he finishes counting and then lets the suspense build in uncomfortable silence, cuz he wanna see the faces of the people wondering if there's a malfunction, and then only Ghost pulls the lever

[icqmuseum24]

🇺🇲 The summer of 2008 marked a turning point for AOL. Time Warner was in discussions to sell its internet division to either Microsoft or Yahoo, a move that would significantly impact the online advertising market.

➡️ Beyond its search engine and e-mail service, AOL's most notable brands included the instant messengers ICQ and AIM, the iconic web browser Netscape Navigator (which dominated the '90s and was a key player in the browser wars with Microsoft), and Winamp (the legendary media player from Nullsoft, acquired by AOL in 1999).

💵 In January 2001, AOL merged with Time Warner in a $165 billion deal, the largest merger in U.S. history. This merger was intended to create a media powerhouse, but instead, it led to a slow decline. The dot-com bubble burst, and AOL's dial-up internet service quickly became outdated. The anticipated synergies never materialized, leading to massive losses and internal conflicts.

💻 By 2008, AOL was a shadow of its former self. The potential deals with Microsoft or Yahoo underscored the intense battle for dominance in the tech world. Yahoo, under pressure from activist investor Carl Icahn, was in a proxy fight to avoid a takeover by Microsoft, which had its sights set on both Yahoo and AOL.

📈 Analysts predicted that acquiring AOL would significantly enhance the buyer's online advertising power, reshaping the digital landscape. Despite AOL's eventual spin-off from Time Warner in 2009, the company could not reclaim its former glory. However, the legacy of its pioneering services like ICQ, Netscape Navigator, AIM, and Winamp continues to be fondly remembered by many.

[justarandombrit]

If anybody ever wants to know anything about the state of British politics, just show them this song and they'll instantly get it

(It's genuinely really good - the song and the satire, even if you don't give a shit about British politics I highly recommend it)

[deanmarywinchester]

disappointed I might not be able to take the real estate finance class in my program <- insane sentences. what have I become

[argentcochon]

how I look after a set of monetary policy practice questions despite learning about it in two classes

[deadpansandredlipstick]

THIS IS A PUBLIC SERVICE ANNOUNCEMENT

Please visit FEMMEFREEZE.ORG for more information.

For details on how to proceed please see videos linked above.

[techtow]

Join Wise and get £50. It's simple, quick, and rewarding!

[dnetsofttech]

How Automation Plays an Important Role in the Success of the Real Estate Industry?

In recent years, automation has changed the game across many industries, including real estate. It helps real estate businesses run more smoothly by improving key processes like data management, tenant relations, and marketing. Real estate management software is at the center of this transformation. It makes day-to-day operations more efficient and provides valuable insights into property performance.

This blog explores how property management software can help real estate businesses thrive by automating tasks. It also discusses why digital tools are so important for keeping up with industry changes.

[rainyfestivalsweets]

11/30/23

Today is better in many ways.

I am having a period. The pain was less than normal but I am requiring frequent bathroom breaks.

I was able to do some tasks that will make the evening easier. But I probably have to go to the grocery store which i wanted to avoid. Fuck.

I am fighting thru my workday. So close to the end, but struggling with system updates that fuck everything up. Annoyed at everything.

Walked the dogs as much as I could outside.

Got the mail. Did the dishes. Cooked mom breakfast. Cleaned 1 kitty box & set of puppy papers, mopped the floor in that room.

Unwrapped some stuff. Ordered some stuff from Amazon.

Took my leave of Facebook.-Now if I could only quit it for real.

My dog has been sick. Pukey. It sucks to see his uncomfortable.

I am working to accept the seemingly inevitable breakup. I feel like I have been holding on to a fantasy. This gal might be the best person I have ever known and I don't know why we don't have chemistry. We talk all the time, messaging. But in person, we suck at physicality and I think I am just at the point where I am not longer really wanting that. I struggle with it but the fact is, we suck. I just don't have the vroom vroom anymore.

I need to make sure that I am on my shit better. Especially with paying bills, debt reduction, and saving for my future.

I am it baby. No one is going to save me. Get fucking focused and save yourself.

Fix your shit.

Get back into school.

Pay your fucking taxes.

Fucking do it.

Get your fucking head together, woman.

Stop waiting for someone to love you. Maybe just take some time and love yourself.

[longlivetv]

Me: has zero dollars and much credit card to pay and much more credit card to pay coming Wednesday

Also me: looking at piercing studios near me because life sucks and if Taylor thinks piercings can help maybe she’s not wrong?

[puckish-rogue-archive-deux]

Me remember to look up what the max income is for both cities Bossu runs, and oh my god what the fuck bro. Like ok, he still has to redistribute what he makes cause the overhead for running an organization like this is A LOT. But like.. if you think about it.. he'd still have a lot leftover I think.

Stilwater City Income: $42,900 (Max amount) Steelport City Income: $33,500 (Max amount)

Fun fact; but this is hourly.

[suburblocal]

"Looking for smarter ways to get on the road with a new car? We’re here to help you! As your independent go-to car expert for over 23 years, we’ll personally guide you to getting the car you love in the best way for you."

[koshfinance]

Automation in Treasury Management: How TMS Saves Time & Cuts Costs

A Treasury Management System (TMS) is software that automates some finance tasks. It gives a clear view of all financial data. This helps companies make the most money and keep enough cash for bills and daily costs.

Key Takeaways

Automation in treasury functions can significantly reduce operational costs.

TMS provides a centralized view of financial data, improving decision-making.

Improved cash management leads to better liquidity and reduced financial risk.

Automated processes minimize manual errors and increase efficiency.

Integration with existing financial systems for seamless operations.

Understanding Modern Treasury Management

Financial agility is key for businesses today. Modern treasury management is more than just cash and risk management. It's about using technology to improve financial operations and make better decisions.

The Evolution of Treasury Functions

Treasury management has changed a lot over time. It's moved from basic cash handling to a strategic role in the company. Now, it includes advanced risk management, cash forecasting, and investment planning.

Key Challenges in Manual Treasury Operations

Manual treasury operations face big problems. They are slow, often wrong, and lack real-time cash visibility. Some major issues are:

Manual data entry is slow and error-prone.

It's hard to see cash and risks clearly, making decisions tough.

Bad risk management can lead to big financial losses.

Slow approval processes cause delays in transactions and decisions.

The Shift Toward Digital Treasury

Digital treasury management solves these problems with technology. It gives real-time cash views, better risk handling, and streamlines operations. Knowing what treasury services are out there helps businesses choose the right solution.

Going digital helps companies beat manual operation issues and stay ahead in the market. As finance keeps changing, understanding and using modern treasury practices will become even more critical.

What Is a Treasury Management System?

A Treasury Management System (TMS) is key to managing finances better. It centralizes and automates treasury tasks. This makes financial management more efficient and accurate.

Core Functionality and Components

A TMS handles cash, risk, debt, and payments. These areas work together for a strong treasury system.

Cash and Liquidity Management: Helps manage cash flow for better liquidity.

Risk Management: Uses forecasting and hedging to reduce risks.

Debt and Investment Management: Manages debt and investments well.

Payment Processing: Automates payments to cut down on errors.

Cloud-Based vs. On-Premise Solutions

TMS solutions can be cloud-based or on-premise. Cloud options are flexible and scalable. On-premise offers better data security.

Cloud-based TMS is popular for its:

Lower upfront costs

Enhanced scalability and flexibility

Automatic software updates

Integration Capabilities with ERP and Banking Systems

A TMS can connect with ERP systems and banks. This integration makes data sharing smooth. It cuts down on manual work and boosts efficiency.

Integration features include:

ERP Integration: Syncs financial data between TMS and ERP systems.

Banking System Integration: Connects with banks for real-time financial updates.

Key Automation Features Driving Efficiency

Automation is key in modern treasury management. It boosts efficiency and cuts costs. By using advanced automation, companies can make their financial work smoother, more accurate, and better informed.

Cash Flow Forecasting and Visibility

Tools for automated treasury management track cash in real-time. They show cash balances in different bank accounts and places. This helps keep enough liquidity.

With clear cash views, treasurers can:

Handle cash shortfalls or surpluses better

Decide on investments and funding needs wisely

Manage working capital better

Payment Processing Automation

Automating payment processing makes finance work easier. It cuts down on manual steps, boosts security, and speeds up payments. Automated systems handle lots of transactions well, ensuring payments are on time.

Bank Statement Reconciliation

Automated bank statement reconciliation makes manual checks a thing of the past. It matches transactions and spots any issues. This saves time and ensures everything is correct, letting teams focus on bigger tasks.

Investment and Debt Management

Automation helps in managing investments and debts. It keeps an eye on how investments are doing and debt needs. This helps make better financial choices.

Time-Saving Benefits of TMS Implementation

Getting a Treasury Management System (TMS) changes how finance teams work. It makes things more efficient and cuts down on mistakes. A TMS automates many tasks, letting teams spend more time on big-picture work.

Elimination of Manual Data Entry

One big plus of a TMS is no more manual data entry. This old way is slow and often wrong. A TMS makes sure data is right and current.

Reduces the risk of human error

Increases data accuracy

Frees up staff for more strategic tasks

Streamlined Approval Workflows

A TMS also makes approval processes smoother. It helps manage and track payments and other financial actions. This saves time and makes things clearer and more controlled.

The perks of better approval workflows are:

Faster processing times

Improved visibility into financial transactions

Enhanced security and compliance

Automated Reporting and Dashboards

Another key feature of a TMS is automated reports and dashboards. These tools give quick insights into money matters. This helps teams make smart choices fast.

Real-Time Financial Decision Support

A TMS also offers real-time support for financial decisions. This lets teams act fast when the market changes. With the latest financial info, companies can make confident choices.

The benefits of real-time support are:

Improved responsiveness to market changes

Enhanced ability to manage financial risk

Better strategic decision-making

How Treasury Management Systems Cut Operational Costs

Effective treasury management is key to lowering costs and improving financial health. Treasury Management Systems (TMS) are vital in this effort. They automate and improve many treasury tasks.

Reduced Staffing Requirements

Using a TMS can greatly reduce the need for staff. It automates tasks like payment processing and reporting. This cuts down on labor costs.

Error Reduction and Prevention

Manual tasks often lead to errors, which can cost a lot. A TMS reduces these errors by automating tasks and checking them systematically. This prevents costly mistakes.

Optimized Cash Positioning

A TMS gives real-time views of cash across accounts and currencies. This helps businesses make better cash management decisions. It reduces the need for short-term loans and boosts interest income.

Banking Fee Optimization

TMS solutions help analyze banking fees. They help companies find ways to save on banking costs. By understanding fee structures, companies can get better deals from banks.

A McKinsey survey found big savings with automation. Companies that automated 50-70% of tasks saved 20-35% annually. This shows how TMS can lead to big financial gains.

Selecting and Implementing the Right Treasury Management Solution

To get the most out of an integrated treasury management system, businesses need to plan carefully. This means several important steps to make sure the system fits their needs and works with their current financial setup.

Needs Assessment and Requirements Gathering

The first step is to understand what you need from a TMS. Look at your current financial challenges, processes, and future goals. Focus on areas like:

Cash management and forecasting

Payment processing and reconciliation

Investment and debt management

Integration with existing systems

This detailed look will help you know exactly what you need. It lets you create a clear list for vendors to tailor their offers.

Vendor Evaluation Criteria

After knowing what you need, it's time to look at vendors. Consider these key points:

The vendor's experience and reputation

The TMS's functionality and flexibility

Its scalability for future needs

The quality of customer support and training

The total cost of ownership

By carefully checking these points, you can find the best TMS solutions for your business.

Implementation Timeline and Milestones

Implementing a TMS needs a solid plan. This includes a clear timeline, key milestones, and the right resources. Important things to think about are:

Data migration and integration

User training and adoption

Testing and quality assurance

Go-live planning and review

Breaking down the process into smaller tasks helps ensure a smooth transition to the new TMS.

Change Management Considerations

Introducing a new TMS requires good change management. This ensures users adapt well and operations run smoothly. Key strategies include:

Communicating the system's benefits

Offering thorough training and support

Monitoring progress and solving issues quickly

Reviewing and improving processes for better TMS use

By focusing on change management, you can make sure your TMS implementation is a success.

Conclusion: Embracing the Future of Treasury Automation

In today's fast and changing economy, using treasury management software is more important than ever. These systems help businesses manage their finances better. They make operations more efficient, cut costs, and improve decision-making.

Choosing the best treasury management system can make a big difference. It helps streamline processes and gives real-time insights into finances. As the financial world keeps changing, the need for treasury automation will grow even more.

Companies that adopt this technology will be ready for the modern financial world's challenges. This will help them succeed and stay strong in the long run.

Also Read: Best Practices to Train Your Team on a New Treasury Management System