Keeping track of cash may sound like a simple task, but it can be quite an undertaking for a company with dozens, or even hundreds, of subsidiaries around the globe. That's where Alterna Technologies Group Inc.'s Auros platform comes in. It's Web-based software that gives companies a real-time picture of how much cash they have and where that cash is located. In the process, Alterna claims Auros can save users millions.
Auros also helps companies net their cash positions and payments. As information about positions and transactions flows through, the platform compiles a database that can then be accessed by as many users as the company desires. It's an ideal product for large companies, which "sit on hundreds of millions [of dollars] in bank accounts across the globe and they have no idea where it is or how to access it," says Michael Hines, vice president of marketing for Calgary, Alberta-based Alterna.
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