and Bank Transaction Entry and Reporting Systems
Orlando, FL, Nov. 2, 2003 (AFP 24th Annual Conference, Booth #1157) - XRT today launched its Certified Bank Communications Program, which helps to ensure quick and easy integration of XRT solutions with bank transaction entry and reporting systems.
Under the program, once communication is tested and verified by both parties, a bank attains the XRT Connected Partner status. XRT is currently completing integration with major national and international banks and expects to make a number of partner announcements shortly.
"There is growing pressure on treasury departments to lower costs and improve visibility of cash positions, all with fewer and fewer resources," said Rob Hansell, Product Director for XRT. "The result is treasurers are turning to technology to streamline processes that eliminate the need for manual steps, such as file import and export."
"This program assures our customers of fast and easy integration between their XRT solutions and their banking partners, and facilitates better access to the latest connectivity offerings from their banks," says Eric Bregand, Executive VP of R&D for XRT. "Real-time access to account balances and initiation of transactions improves the timing and accuracy of financial decisions."
XRT is working closely with major financial institutions to develop defined, pre-tested interfaces between the company's Enterprise Suite and bank systems. These interfaces ease the exchange of information related to balance reporting and funds transfer via the Internet, allowing XRT clients to obtain account details delivered directly to their treasury workstations more easily than before. This allows client to focus on better management of their cash positions rather than the mechanics of the communications.
XRT treasury solutions streamline collection, liquidity, and risk and payment management processes, effectively reducing working capital requirements. Unlike accounting-based systems, XRT solutions provide real-time, cash-based information on enterprise-wide financial activities and are used by more than 6,800 companies worldwide. XRT was founded in 1983 as CERG Finance. The Company generated EUR 40.3 million in revenue in 2002 with a staff of 350. Its global headquarters is in Paris-La DÃ©fense, and the U.S. headquarters is in King of Prussia, PA.