Is Fennech a Treasury Management System?

Fennech Financial is not a TMS although you will find that some of our solutions extend in the capabilities often found in TMS. Instead we act as a middleware between TMS, ERPs and banks allowing businesses to seamlessly integrate with Payment, Treasury, and Banking solutions helping to bring visibility, control, and end-to-end automated processing into existing infrastructures with minimal human intervention.

How does Fennech’s payment orchestration system work?

Fennech Financial's Payment Orchestration System uses its cloud-based F³ (Fennech Financial Framework) to automate and streamline financial operations. It integrates features from Core Banking Systems, ERP, and Treasury Management Systems for enhanced efficiency and control. Key functionalities include: Digital Contracts & Smart Transactions: Automate transaction execution and settlement. Auto Payments: Process large-scale payables and receivables with customizable rules. Reconciliation Manager: Automatically match incoming payments with ledger transactions. Virtual Accounts: Simplify account management and reduce banking costs with unlimited virtual accounts. Integration Flexibility: Seamlessly connects to existing systems, banks, and APIs, supporting real-time operations across geographies and currencies. This system optimises payment workflows, reduces manual intervention, and improves operational efficiency for businesses.

What is the Fennech Financial Framework (F³), and how does it work?

F³ is a cloud-based platform that blends the best of core banking systems, enterprise resource planning and treasury management systems. It's robust, scalable and tailored for your unique IT environment, offering custom solutions to manage payments, cash, risk, and financing more quickly, cost-effectively, and efficiently.

How to Bridge the Gaps in Global Payment Lifecycle Management

Pre- and post-payment processes are the backbone of effective financial operations, ensuring accuracy, compliance, and efficiency in handling transactions. Yet these are often neglected with manual processes affecting efficiencies and financial risk management. In today’s fast-paced financial environment, optimising these processes is critical for organisational resilience and success.

Chief Revenue Officer

Melina Moussali

Trusted by partners

Complete Payment Lifecycle Support for Enhanced Treasury Cashflow Management

Treasury Cashflow Management: Pre-Payment and Post-Payment Processes for Finance Leaders

Over the years, I have worked within leading global payments organisations, helping companies efficiently manage their international transactions. While we offered cutting-edge solutions, a crucial gap remained: the lack of pre and post-payment support. We focused solely on executing payments, neglecting the complexities of the entire payment lifecycle for our corporate clients. Ironically, even within these organisations, we sometimes encountered challenges optimising our own internal financial flow management.

So why do such gaps still exist today and how can we support complete payment lifecycle?

Pre-payment processes involve tasks such as invoice approval, payment validation, and fraud detection. Automation in this stage aims to streamline approvals and ensure payment accuracy. The challenges include:

Data Quality and Integration • Problem: Pre-payment systems rely on accurate data from multiple sources, such as vendor databases, invoices, and purchase orders. Discrepancies or incomplete data can disrupt automation. • Impact: Leads to rejected payments or delays in approval processes. • Solution: Invest in robust data integration and validation tools to ensure data consistency.
Compliance and Fraud Detection • Problem: Ensuring that payments meet regulatory requirements and are free of fraudulent activity is complex. • Impact: Inadequate checks can lead to regulatory penalties or financial losses due to fraud. • Solution: Implement AI-powered compliance checks and fraud detection algorithms.
Workflow Complexity • Problem: Payment approval workflows often involve multiple levels of authorization based on payment amount, vendor, or geography. • Impact: Automating such workflows can be challenging without customizable solutions. • Solution: Use configurable platforms that allow for flexible rule-setting and approval hierarchies.
Vendor Onboarding and Management • Problem: Ensuring that vendor details are accurate and up to date is essential for pre-payment processes. • Impact: Incorrect vendor information can result in failed or delayed payments. • Solution: Automate vendor onboarding and maintain a real-time database for updates.

Post-payment processes include reconciliation, audit trails, and ledger updates. Automation here focuses on ensuring accuracy and visibility after payments are made. Common challenges include:

Complex Reconciliation Needs • Problem: Matching payments with invoices, purchase orders, and bank transactions can be complex, especially with high transaction volumes or partial payments. • Impact: Manual intervention may still be required, reducing the efficiency of automation. • Solution: Deploy advanced reconciliation tools with AI-driven matching capabilities.
Real-Time Cash Flow Visibility • Problem: Delays in updating ledger systems or providing visibility into post-payment status can hinder financial planning. • Impact: Reduces the ability to make informed decisions regarding cash flow and liquidity. • Solution: Integrate real-time reporting tools to track payments and their status immediately after processing.
Scalability and Flexibility • Problem: Legacy systems may not support the volume or complexity of transactions in a growing organization. • Impact: Limits the scalability of post-payment automation. • Solution: Invest in cloud-based, scalable systems that can adapt to increasing transaction volumes and complexities.

When it comes to payments, one might think it is just a matter of moving funds from point A to point B. However, the reality for CFOs and treasurers is far more complex. Automation and integrations provide without a doubt significant benefits. By investing in advanced technology, improving data quality, and creating robust exception-handling workflows, businesses can streamline financial operations, reduce errors, and enhance overall efficiency.