Business users have an 24x7 on the go real-time view of their cash position over a configurable period. It combines data from the ERP packages (inc. all payables and receivables) and data retrieved from the AIS services, factoring in when debtors typically settle their invoices – providing actionable insights so business owners can optimise working capital.
A combination of the DSO predictive model and the cash forecasting service predicts a potential cash shortfall. PocketTreasurer advises the business user on which invoices can be used as security to bridge the gap in cash shortfall. The bank configures a proposition of invoice financing/ loans or Fintech appstore available financing. Pocket Treasurer informs the business user how long any loan is required for, and finally when any receivable that is used for securing a loan is paid, Pocket Treasurer can be configured to automatically settle the loan.
Businesses can through a streamlined and digitised process exchange invoices and send a request for payment/reminders to their debtors directly from their mobile banking app, SMS or email. After settlement both bank account and accounting package are automatically updated.
Allows business users to set up sweeping rules (based on balance, date or frequency), which invoke automatic PIS services
POBO (payments on behalf of) allows business’debit instructions at any bank(s) where the customer holds accounts (and not only the bank operating PocketTreasurer). Similar to SWIFT MT101 model (which tends to be complex and is not real-time) but utilises the new PSD2 AIS service.