Specifications include, but are not limited to: • Cash Management and Forecasting o Ensuring that organizations always have up-to-date and real-time insights into positions across banks, accounts, and entities. o Automating the preparation and reconciliation of the organization’s daily cash position. o Having forecasting capabilities to build and analyze cash forecasts by leveraging multiple sources of data. o Forecasting capabilities should include what-if analysis. • Liquidity Management o Analyzing total liquidity by incorporating desired investment and credit data from debt and investment. o Providing analysis of cash flow arising out of asset liability transactions and funding various assets off balance sheet. o Fulfilling organization’s financial obligation and the day-to-day cash requirement for the smooth functioning of the enterprise. • Bank Account Management o Facilitate opening/closing of accounts, maintenance of bank account signers, and the exchange of bank account documentation. • Bank Account Connectivity o bank connectivity for daily files, bank statements, payments, etc. • ERP Connectivity o LIPA uses Microsoft Dynamics 365 as its ERP system. A new TMS must be able to perform automated daily and monthly bank reconciliations and pass accounting entries to the ERP system. • Bank Fee Analysis o New TMS should be able to conduct bank fee analysis based on bank statement analysis and agreed to fee schedule. • Optimum Utilization of Funds o Ensuring the effective utilization of the firm’s resources to reduce the operating costs and prevent liquidity shortage in the coming time • Technology & Automation o Adopting digital technologies in order to utilize the latest innovations to support decision making o Getting automation right to position the Finance &Treasury function as the custodian for fully integrated with the core business o Allow for fraud screening capability
