Wells Fargo introduces online workstation for commercial customers

Source: Wells Fargo

Wells Fargo & Co. (NYSE: WFC) said today it has introduced CEO Workstation, an affordable, easy-to-use online workstation for commercial banking customers that instantly provides a global view of cash positioning, forecasting, and trending information.

Delivered through Wells Fargo's award-winning Commercial Electronic Office (CEO) portal, CEO Workstation was developed with extensive study of treasurers and cash managers doing their jobs in their workplace. Wells Fargo launched its Internet-based workstation in October and will release new features and functionality through 2008.

"With each new fiscal year, finance executives face more strategic responsibilities without additional resources," said Michelle Young, vice president of Treasury Management for Wells Fargo. "Many companies haven't been able to take advantage of treasury automation due to the expense and complex implementation of traditional workstations. CEO Workstation is delivered over the Internet, which means expensive software or staff aren't needed for installation and maintenance. Our customers get to keep their focus on strategy while CEO Workstation handles their daily cash management."

CEO Workstation provides automated treasury management tools with the look and feel of a traditional spreadsheet. Customers see their global cash positions, including multiple currencies, current and previous day balances, and executive summary graphs and charts. Pre-populated data from Wells Fargo and other financial institutions save manual entry and reduce errors. Forecasting tools include a report card, which improves accuracy of cash forecasting and analysis. Journal entry improves efficiency through automation of general ledger updates.

"CEO Workstation increases control of worldwide financial accounts and transactions," Young said. "It manages cash more effectively, maximizing investment returns and decreasing borrowing costs."

CEO Workstation provides cash management information tailored to reflect an organization's structure. It allows a company to customize reporting by entities within its organization, offering the ability to view information by individual locations and provide an overall picture. CEO Workstation also includes user-friendly administration tools. Simple and affordable pricing avoids big upfront costs and per-user fees.

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