Cyberplat took part in the meeting of the field-specific experts that was held by VTB and Association of Corporate Treasuries. The event “Leading practices of integrating treasuries with banks” took place in the VTB office and gathered reps of major Russian banks and companies.
Participants of the round table dedicated to discussion of solutions aimed at centralizing treasuries outlined criteria for selecting providers of ERP solutions and shared their experience of implementing that in their respective companies and also outlined main directions for further development of treasury functionality.
Deputy CEO of Cyberplat, Alisher Tuychiev, shared his experience of running CyberFT platform and presented it as an effective tool for unifying interaction with banks that resolves one of the most important issues, which is an excessive number of online banking systems. Companies that work with multiple banks at once have to support a number of different online banking systems and use various formats for exchanging data and cryptographic protection means. CyberFT lets you set up a universal online banking system and apply one standard ISO 20022 when exchanging data.
Once a financial document or message is ready, all that a CyberFT member has to do is choose the settlement bank whereafter the document will be sent to that bank via the unified channel. The same channel is going to be used by CyberFT member for receiving centralized feedback from their settlement banks (statuses of the sent documents, statements, etc.). That being said, a company is interacting with banks directly without intermediaries using their CyberFT network account.
CyberFT not only implements the one-stop shop principle for the market players serviced by different banks and evade the inconvenience of using multiple remote banking services, but it also brings to life cash pooling. Optimized liquidity management in such harsh times for the financial market minimizes influence of the negative cash flow trends, increases quality of operational planning, and boosts effectiveness of using funds temporarily free for spending.
Tight exchange of opinions that followed the speech and talks on the sidelines of the event is a clear evidence of the relevance of the matter of financial information format unification for treasury experts.
Aside from Cyberplat there were also other companies participating in the round table discussion, as well as reps of VTB, Evrazholding, Auchan, Rosatom State Corporation, and United Shipbuilding Corporation.