What you need to know about ANZ's Cashactive Fusion

Time to say goodbye to spreadsheets and emails as ANZ aims to automate organisations' financial information to enhance cash flow forecasting.

Asian Banking and Finance talked to ANZ and Gresham Computing to find out more about this newest initiative.

Here's what Anne Collard, Global Head of Product & Channel Management, Payments & Cash Management, ANZ Institutional & International Banking, has to say:

Designed by our Payments & Cash Management team, ANZ Cashactive Fusion automates and integrates the financial information of organisations to enhance their cash flow forecasting. It automates the capture and reconciliation of financial information to help clients with their business intelligence and real-time decision making.

ANZ Cashactive Fusion is designed for organisations that currently manage the complexity of large accounts payable (payments) and accounts receivable (collections) volumes using manual processes and systems. This includes spreadsheets and emails for capturing and reconciling the relevant financial information, which are time consuming and subject to human error. It’s ideal for organisations in financial services, utilities, telecommunications, health and property sectors.

How does it work? ANZ Cashactive Fusion comprises two core capabilities that can be used independently or in combination depending on an organisation’s needs. One involves the capture and conversion of information from in-bound documents into electronic data. The second automates the reconciliation of information based on defined business rules. Whether being used by accounts payable or receivable departments, the solution matches electronic receipts and invoices against outstanding items to provide meaningful information on closed or outstanding items. The appropriate actions in the ‘procure to pay’ or ‘quote to cash’ supply chain can then be taken to effectively manage working capital.

ANZ Cashactive Fusion aims to help our clients to change the way they manage their businesses through simplification and automation. The end state is providing them with improved visibility and control in the business critical areas of cash flow and information management.

ANZ's Cashactive Fusion uses Gresham Computing's Clareti Transaction Control (CTC) solution. According to Neil Vernon, Development Director at Gresham Computing, CTC is a leading solution in real-time transaction controls and brings a suite of innovative functionality, flexibility and scalability to the problem of quickly deploying effective control and reconciliation for both traditional receivables/payables transactions and more complex structured financial products.

"CTC can be delivered on-premise or accessed as a cloud based offering over the internet. At ANZ, CTC is delivered through their Web Portal and is completely branded as an ANZ solution. Corporates can utilise the full set of innovative features that CTC provides with the certainty of using a bank provided solution."

He adds: CTC provides two primary capabilities for ANZ Cashactive Fusion. One involves the transformation and enrichment of payments data using CTC's intelligent data-feed mapping capability. The second automates the reconciliation of information based on defined business rules using CTC's low latency/high performance multi-way matching engine.