Citi today announced the launch of Citi Working Capital Analytics, an innovative service available to Citi institutional clients in North America.
The solution provides an in-depth analysis across all spend categories to provide clients with customized recommendations to enhance visibility and insight into their payables. These recommendations help clients realize potential cost savings and greater efficiencies within their Accounts Payable processes.
Using the tools included in the Citi Working Capital Analytics suite, Citi provides recommendations and ROI calculations customized to clients' goals and practices in order to pinpoint potential improvements to working capital management and supply chain strategies. "Citi Working Capital Analytics takes a holistic view when looking at clients' spend data," said Amol Gupte, Citi's North America Head of Treasury & Trade Solutions. "The results of the analysis combined with the client's own objectives, underpin our recommendations to help them tap the capital hidden within their organizations."
The Citi Working Capital Analytics solution outlines ways to streamline the entire procure-to-pay process with modular solutions such as:
• Commercial card optimization
• Complete Payments and Working Capital Supplier enablement planning
• Buyer Initiated Purchase Card segmentation
• Citi Supplier Finance segmentation
• Electronic Invoice opportunity scoping
Each module addresses areas where inherent inefficiencies may have trapped capital that could be used for more important purposes. To ensure that Citi's recommendations lead to real results, the analysis is updated on an ongoing basis and the tool allows commercial clients to benchmark their performance data against best-in-class organizations in their own industries.