Avatar Partners and Axway Inc. are joiningforces to provide an automated global treasury system thatlets corporations transact business with their financial servicesproviders around the world, says Marlo Brooke, Avatar president.Users will be able to tap into an integrated SWIFT (Society forWorldwide Interbank Financial Telecommunication) pipeline thatprovides straight-through processing and statement reconciliationfor companies that cannot afford the prohibitive SWIFT costs.

Brooke says Avatar, a leader in financial supply chainintegration, and Axway, a provider of collaborative B2B solutions,have been able to slash costs by leveraging existing account andERP systems, and combining the Axway solution with a SWIFT servicebureau model. In addition to configuring the solution in-house, itcan be used as a software as a service (SaaS) delivery model thatshares expenses across several accounts. “SaaS lets us takecompanies that are in the Fortune 2000 space and provide acompelling return on investment,” says Brooke.

Corporations that take advantage of the technology, which willbe officially launched next week, will have access to dashboardsthat provide visible, daily updates of cash positions. “The waysome of these foreign banking relationships work, a company mightnot be able to see a statement for a week or more,” explainsBrooke. “So the cash would just sit there, not being of any use tothe company.” Now, she explains, treasuries can view their balancesat a glance, and use available funds in the most efficientmanner.

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