CAMBRIDGE, Mass. & WALLDORF, Germany--(BUSINESS WIRE)--TIS, the leading cloud platform for managing corporate payments and cash flows today announced the launch of Enterprise Payment Optimization, a smart platform ecosystem that increases capabilities and lowers risk for multinational corporations. Focusing on outbound payments and the data resulting from these transactions, EPO enables organizations to capture and manage real-time cash flows and information. EPO is the orchestration layer to support financial strategies, business transformation, and successful collaboration across an entire organization.
Reimagining the world of enterprise payments
Every day, global enterprises collect millions of inbound payments from customers around the world, while simultaneously generating massive volumes of outbound payments to suppliers, employees, as well as to settle treasury transactions. To complicate matters, these inbound and outbound payments can look very different across an organization, especially for those that operate in numerous countries, markets, and industry verticals. Different currencies may be involved, and enterprises with subsidiaries or localized business units may use a separate set of banks and systems to manage payments across each location. This all adds significant complexity each time a new business is acquired, established or sold.
In the world of payments, a lack of visibility and automation impacts liquidity, profitability, and increases risk exposure - including cybercrime and fraud – across all associated business units, departments, and systems. A systematically controlled payments workflow is managed by TIS for both inbound information and outbound payments. No matter where a corporation operates, TIS provides global payments connectivity by creating and maintaining compatibility with all required formats and banks, allowing organizations to connect with any bank partner or entity in the world. TIS’s EPO platform is a global, multi-channel, and multi-bank connectivity ecosystem for payments while providing robust bank account management, cash management, compliance, and security features.
Increase strategic agility and growth through EPO
The collected data managed and stored on the EPO platform provides the basis for monitoring liquidity, engaging in cash forecasting, as well as supporting the information needs of finance, risk, compliance, and management. The ability to actively use data produced via the payments process is key for better decision-making.
Payments data can be exchanged with the EPO platform from anywhere using a “plug-in” for ERPs, TMS, payroll systems, among other mission-critical platforms. By activating these connectors, the TIS platform extracts and enriches the information. Given an often-fragmented systems landscape, a holistic view of payments via an integrated platform may be the only way to get a consolidated view across all corporate departments, subsidiaries, and geographies.
The EPO platform offers full compatibility with all relevant financial messaging protocols and provides a world-class library of continuously updated payment formats that eliminates reliance on e-banking tools and provides centralized connectivity to virtually any bank.
“The business landscape is evolving rapidly requiring firms to increase standardization, centralization, and transparency as it relates to enterprise payments. The TIS EPO platform goes beyond just delivering the information needed for companies to perform better; it also provides the foundation for a best-of-breed solution set that helps businesses sunset legacy platforms and take advantage of next generation technology” said Erik Masing, CEO of TIS.
Enterprise Payment Optimization allows organizations to maintain cloud connectivity from their back-end systems (where payments are initiated) to their banks (where payments are executed). Data collaboration can be extended to partners such as service vendors and banks, as well as between enterprises. This creates a real community effect, where payments processing and data are leveraged through a single, standardized, and secure dashboard. EPO powers the ability to drive improvement through robust and versatile connectivity, effective collaboration, secure payments processing, and continuous analysis.
About TIS:
TIS is reimagining the world of enterprise payments through a cloud-based platform uniquely designed to help global organizations optimize outbound payments. Corporations, banks, and business vendors leverage TIS to transform how they connect global accounts, collaborate on payment processes, execute outbound payments, analyze cash flow and compliance data, and improve critical outbound payment functions. The TIS corporate payments platform helps businesses improve operational efficiency, lower risk, manage liquidity, gain a strategic advantage, and ultimately achieve enterprise payment optimization. Visit www.tis.biz
