Compliance Systems launches a cloud-based treasury management solution

The solution delivers configurable, cost-effective compliant content and aims to help financial institutions streamline their treasury management operations. Simplicity Treasury Management does away with third-party legal dependencies and is able to automate compliance updates by leveraging cloud technology. 

The system can addresses problems related to a dependency on costly outside counsel and time-consuming internal review processes, which can put a strain on the operations of a bank or credit union. By leveraging the Simplicity configuration platform, the system gives financial institutions the ability to customise every paragraph of a master services agreement (MSA) that is unique to their organisation and includes terms and conditions for all the treasury management services they offer. 

Simplicity Treasury Management shares the same network with the company’s Simplicity Mobile product line, which represents the first mobile-enabled compliance solution for online deposit account opening according to the official press release. The system delivers Treasury Management documents in compliance with federal and state law, and it offers them in HTML and PDF file formats. 

Compliance Systems officials have revealed in the company press release that client feedback was a key element when it came to outlining the design of Simplicity Treasury Management. The system was created to help customers optimise their operations and give institutions as much flexibility as they want in managing their documents. 

US-based Bank Independent will use the Simplicity Treasury Management solution to offer Treasury services to their clients in a more streamlined and simplified manner. Officials from Bank Independent highlighted that the cloud-based system can minimise the number of documents needed to sign and manage, which can in turn relieve their internal legal team of stress around operations and maintenance.

The importance of treasury management systems 

According to kyriba.com, a treasury management system (TMS) is an enterprise software that helps automate repetitive treasury processes that are often performed by hand. By automating these processes, CFOs and treasurers can gain better visibility into cash and liquidity while gaining control of bank accounts, maintaining compliance, and managing in-house banking and financial transactions. 

When it comes to cash management and forecasting, a treasury management system can automate the preparation and reconciliation of an organisation’s daily cash position before the start of the business day. Visualisation of cash positions through a mix of bank balances and transactions with expected cash flows provides users with recent, real-time insights into positions across banks, accounts, regions, and entities.