Evare streamlines client cash management with deltas-only data feature
14 April 2004 | 1379 views | 0
Evare LLC, a technology company specializing in the acquisition, transformation, and delivery of financial data, today announced the general release of a new deltas-only data feature for companies that receive intraday cash transaction files via Evare. The feature reduces manual intervention and the overall risk of duplications in cash management operations. Evare delivered this service last fall to a Fortune 500 client, and after six months of 100% accurate service, the company is now making the feature available to all of its clients in North America and Europe.
The deltas-only service provides corporations with periodic intraday updates on their cash account activity, with each update containing only the transactions that occurred since the last transmission. The service is sophisticated enough to report on only new and identical transactions while culling out previously reported transactions. The deltas-only data can be delivered to companies on their schedule and as frequently as they require throughout the day. Once received, the information can be automatically imported into ERP systems, enabling cash managers to make immediate decisions with utmost efficiency and pinpoint accuracy.
"A few of the major money-center banks can provide a deltas-only feature directly to their corporate customers, but the vast majority of banks can't," stated Joshua Teeter, Chief Information Officer of Evare. "With Evare, corporations can achieve real intraday data integration with any bank and eliminate the risk of duplication in their cash operations."
"Streamlining customers' treasury management operations is one of the critical issues for banks today, " states Maggie Scarborough, Senior Analyst, Financial Insights, a Boston-based research and analysis firm. "Any service that reduces the redundancy and risk involved is a welcome sight."
Evare combines financial industry knowledge and technical expertise to create innovative technology solutions for its clients. The company has made customer service a cornerstone of its business model, and works closely with each client to craft a solution that works best for their unique environment, to devise a tailored implementation plan, and to ensure that ongoing relationship management processes are enacted.