Gaining greater control over cash can help companies expand when others are closing down, or simply allow them to ride through the recession.
Time is money. The credit crunch has given this old aphorism a new importance as companies look to increase access to and control of their cash. Without control over cash, everything from an organisation’s expansion plans to its very existence can come into question.
Technology-based solutions are banks’ and corporates’ preference for keeping tabs on their accounts. While electronic systems that integrate an organisation’s accounts with its bank have been around for years, they are no longer limited to the realm of global multinationals but are increasingly being embraced by regional corporates.
Singapore-based Straits Asia Resources, a subsidiary of Australia’s Straits Resources and Thailand’s PTT, is one such company. It has implemented an advanced SAP software solution to integrate its internal accounts with those at its bank, Standard Chartered, to improve its cash management. Read on.
