User & Stakeholder Benefits
Advantages from Accounting & AP to Treasury & the C-Suite
The TIS Enterprise Payment Optimization (EPO) platform provides critical financial, operational, and technological benefits for all an organization’s key internal stakeholders. As a result of our seamless connectivity and multifaceted payments, liquidity, security, and compliance capabilities, users from Accounting and AP to Treasury, HR, and up to the C-Suite can achieve substantial and long-lasting value. Refer to the sections below for more information on the core advantages of TIS for each stakeholder group.
AP & AR
IT & Security
HR & Compliance
Benefits for Treasury & Finance Teams
With TIS, treasury staff always have a near real-time view of their global cash positions and account balances. This data is provided through robust analytics and reporting capabilities and supplemented with our working capital and forecasting tools to provide end-to-end control over cash and liquidity.
Beyond cash management, Treasurers can leverage our solution to manage outbound payments across their global network of banks, vendors, entities, and partners. Our cloud platform supports virtually all payments and reporting formats, offers connectivity options to 11,000+ banks, and easily integrates with your back-office ERPs and TMSs. Payment smart-routing and global FX management services are also integrated within our solution to offer the most cost-effective option for executing transactions in any market or network. And finally, our suite of compliance and security tools ensure that no matter where you do business, your payments, cash, and financial data are better protected.
Global Bank Connectivity
Simplified Liquidity Management
Multifaceted Cash Forecasting
Automated Payments Workflows
Security & Fraud Prevention
Compliance & Sanctions Support
Benefits for C-Suite Executives
TIS‘ suite of reporting capabilities enable executives to maintain real-time visibility to their organization’s global cash positions, liquidity statuses, and payments activity. This includes activity across different entities, bank networks, and countries, as well as different ERPs and back-office platforms.
Executives can use the TIS platform directly to create and view financial reports, or rely on our robust integration with other back-office systems to transmit data into their platform of choice. Reports can also be easily generated and exported in simple formats like Excel and PDF. The interfaces provided by TIS include drill-down optionality to examine data across virtually any metric and also enable users to develop custom reporting workflows. The result is that executives always have real-time access to the entire suite of financial information they need, whenever they need it, all within the platform and file format of their choice.
Global Cash Reporting
Seamless Payments Management
Real-Time Financial Data
Automated Back-Office Reporting
Multi-Entity & Multi-Bank Support
Customizable BI Dashboards & Analysis
Benefits for Accounting Teams
Accounting teams that leverage an ERP or similar software to manage their company’s financial reporting workflows benefit from TIS’ seamless platform integration and bank connectivity capabilities. Because TIS manages connectivity to all an enterprise’s banks and can integrate with any ERP or back-office system, accounting teams can receive bank statements, cash reports, and payment statuses in real-time from all entities and accounts globally. This eliminates the headache of having to manage bank connections directly within the ERP and also enables a fast and effective reporting process as statements flow automatically into accounting’s associated software platforms.
The result is that accounting teams always have fast and easy access to all the financial information they need to perform their core responsibilities, provided directly within the platform of their choice.
Automated Cash Reporting
Standardized Payments Reporting
Seamless ERP Integrations
Global Bank Connectivity
Real-Time Financial Data
Benefits for Information Technology (IT)
Enterprise IT teams are largely freed from their responsibility with implementations and ongoing systems maintenance with TIS. Because our platform is fully cloud-based and all core onboarding tasks are managed by TIS‘ expert team, internal IT staff spend only a fraction of the time they’d traditionally dedicate to financial technology projects.
In addition, TIS manages connectivity with back-office systems and banks on our clients’ behalf, which further reduces the workload for IT. Our 99.95%+ annual uptime, 45+ releases per year, and continuous updates to our extensive payment format library provide the continuity needed to maintain business processes 24/7, while our fully-managed hosting and data storage services ensure your information is always kept safe, secure, and compliant.
Outsourced Bank Connectivity
In-House Support Teams
99.95%+ System Uptime
Benefits for AP & AR Departments
AP teams can achieve global visibility to supplier and vendor payment statuses by using TIS. This includes having a centralized view of all bank confirmations, rejections, and fraud or compliance alerts, which is a critical benefit when dealing with hundreds or thousands of vendors. AP can also integrate their ERP module or standalone solution with TIS in order to have supplier payments pass through TIS for automated transmission to and from the bank.
By streamlining the process of paying vendors and achieving greater visibility to the status of outstanding transactions, AP teams can better manage vendor relationships and maintain greater control over outstanding payment requests. TIS also provides more visibility to liquidity and working capital, which aids in the facilitation of supply chain finance programs. Groups that participate in TIS’ payment modality service can also earn a rebate on in-network supplier payments, which can provide significant annual savings.
Global Payments Automation
Effective Rebate Options
Working Capital Insights
Assisted Supplier Onboarding
Simplified ERP & AP Integration
Near Real-Time Financial Data Flows
Benefits for HR & Compliance
Compliance teams benefit from TIS through our platform’s provision of automated workflows for managing bank account documentation and signer lists, maintaining compliance with global sanctions lists and payment regulations, and handling the regulatory reporting and filing process. TIS also enables HR and Compliance teams to collaborate better with Finance for the automated execution of payroll payments from an ERP or HR platform.
At the same time, HR staff can harmonize payment processing for payroll in an automated and timely way, reducing the risk of errors and simplifying payroll management. Enhanced visibility over HR payments and payroll costs globally as well as by entity, region, or staff member are also provided in a simplified manner. And finally, TIS provides complete security and control for HR when managing sensitive payment files or user details, and also restricts access to sensitive data to only authorized employees.
Automated Signer & Data Management
24/7 User & System Audits
Global Payment Compliance & Security
Customizable Workflows & User Rights
Simplified Payroll Execution