Cash & Liquidity ManagementPaymentsSWIFTEnterprise payments reimagined – TIS is leading the way

Enterprise payments reimagined - TIS is leading the way

Liquidity is the lifeblood of every corporation, but companies have focused on cash inflows instead of improving payment efficiency, according to TIS, a leading Enterprise Payment Optimization Platform provider

TIS is reimagining the world of enterprise payments through a cloud-based platform uniquely designed to help global organisations optimise their payment process.

“One of the challenges for global companies, is that many areas or departments have become data silos, full of key information that is truncated and not being shared. These data ‘pockets’ reduce information visibility and prevent process optimisation and collaboration,” says Erol Bozak, co-founder and CPO at TIS.

To achieve “perfect”, end-to-end organisational visibility for payments and payments information would mean a standardisation, concentration and total centralisation of systems, processes, (banking) partners and even locations. That is neither possible nor practical. Given the often-fragmented ERP and systems’ landscape, a holistic view of payments information via a hub is the only realistic way to gain a consolidated view, a single source of truth across all corporate departments, subsidiaries, and geographies. Companies can achieve many of the desired benefits of end-to-end visibility by using an Enterprise Payment Optimization Platform (EPOP). 

Chris Calhoun, CEO Americas at TIS, says that “the TIS Enterprise Payment Optimization Platform is a global, multi-channel, multi-bank and multi partner connectivity ecosystem. It streamlines and automates the processing of a company’s payments and cash flow data, enables collaboration between departments, removes complexity while adding an array of additional benefits.” The platform is built on a solid foundation of connectivity to ERPs, TMSs, HR and other payment input systems as well as to financial institutions and best of breed players. Data is uploaded from ERPs etc. and passed on through the TIS cloud platform to banks. TIS provides connectivity by creating and maintaining different channels and formats (host-to-host, EBICs, local “payment format flavors”) and partnerships (e.g. SWIFT).

The ability to actively use payment data is key for better decision making throughout the organisation. It is the basis for managing cash, monitoring liquidity, engaging in cash forecasting, as well as supporting the information needs of finance, risk, compliance, and indeed the managing board. This information can also benefit procurement, for example, during negotiations of contract terms and conditions. With full information, the importance of suppliers can be measured through the relative spend across the entire company.  Managers can make better and more informed decisions by using business intelligence and data analytics, impacting both the top and the bottom line.

For the finance function, a clean master data repository is essential to manage hundreds (if not thousands) of bank accounts across various subsidiaries and geographies. Corporate treasury can store the organisation’s global bank account data in the EPOP’s bank account management (BAM) module. During regular operations, the activity of every listed user is tracked and traced through an immutable audit log that helps to avoid unauthorised actors abusing the system’s controls. There is also a processing function that scans all user permissions within the platform. If any irregular configurations are identified (e.g., a user having the ability to review and approve his own payments), the system will generate an alert and flag the user. BAM can become a successful collaboration between central treasury and as subsidiaries, orchestrated by a governance process. If the company has stored its data in a TMS, downloading the master data can be done in a matter of seconds.

“The TIS vision is that our clients can operate and collaborate in an open, innovative, and multi-tenant ecosystem, accessing a rich array of platform-based products and services,” says Erik Masing, CEO of TIS. Clients need a place where all stakeholders can collaborate and exchange information. TMS suites have historically grown into what they are today i.e., a complex aggregation of solutions attached to a central structure. A TMS covers many different disciplines, however, it usually offers too much, or too little i.e., not a tailored solution or the “right” fit. If a client wants to optimise their payments process and use this information to support cash forecasting only, why should it implement a full TMS “monolith”.

By helping to break down the silos created by company-centric and e.g., bank-proprietary applications, an open, innovative, and cloud-based architecture lays the foundation for “best-of-breed” solutions. Access to company-wide, real-time data via a scalable and versatile platform gives decision makers additional possibilities to analyse data.  It also provides the basis for entities to take advantage of a wide range of best-fit products. Value-added-services such as fraud protection and prevention, cash forecasting or FX hedging etc. are available. Innovative platforms such as TIS’ EPOP act as ecosystems, making the products and services from specialised vendors available using a single sign-on.

Jörg Wiemer, CSO and TIS Co-Founder explains that “ten years ago, cloud was in its infancy and TIS became an early adopter and a leader in SaaS. We believe that cloud-based, open platform ecosystems that support best-of-breed applications enabled by APIs will become the new normal.” Corporations, banks, and business vendors already leverage TIS to reduce complexity through global connectivity. Collaboration on payment processes, data analysis of cash flows and compliance data will further improve critical outbound payment functions. The TIS Enterprise Payment Optimization Platform helps businesses improve operational efficiency, manage liquidity, lower risk, gain strategic advantage and ultimately achieve enterprise payment optimisation.

Visit and find out more about the TIS Enterprise Payment Optimization Platform.


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