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For as long as anyone can remember, the University of California, with its far-flung 10 campuses and affiliated foundations and alumni organizations, has managed its cash in what Richard Powell, senior banking manager for the UC Banking Services Group, calls “a hodgepodge,” with bits and pieces at each campus. The $20 billion institution, which collectively handles $300 million to $400 million moving in and out daily, used Excel spreadsheets and bank supplied communication software to manage cash. Each campus and organization had to track what they were doing each day and provide estimates of their funding needs. Communications with the university’s central treasury operation were manual, involving phones, faxes and e-mail.

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