Syntellis Performance Solutions, the leading provider of enterprise performance management (EPM) software, data and analytics solutions, today announced the release of Axiom Treasury Cash Management, a new solution that offers end-to-end cash visibility and tools to maximize working capital for healthcare treasury analysts, directors and finance teams.
Developed by leading treasury cash management experts, Axiom Treasury Cash Management features modeling and reporting tools that improve efficiency, accuracy and transparency to maximize returns on cash positions. Working within a highly secure, intuitive and easy-to-use web-based system, the new solution:
- Provides visibility into liquidity and daily cash on hand in multiple accounts
- Streamlines liquidity management; offers liquidity sizing sensitivity analysis: average, volatile or calm
- Supports accounts payable optimization
- Consolidates A/P and treasury payments into a single view
- Enables “what-if optimization,” providing current state, best-practice, aggressive and conservative options for cash allocation
- Offers cash positioning and forecasting, leveraging bank data
“Treasury forecasting has traditionally been a time-consuming process for hospitals and health systems, requiring daily updates from multiple sources of financial information, manual data entry and forecast modeling,” said Kermit S. Randa, CEO at Syntellis Performance Solutions. “We often see healthcare organizations performing these tasks on a daily basis, needing to dedicate analysts to update and maintain spreadsheets that track relevant information. Additionally, treasury team members have lacked tools that provide line of sight into the success of the accounts payable process. We’re proud to bring Axiom Treasury Cash Management to our healthcare clients, who will now be able to leverage tools that provide a deeper understanding of payment types, vendor contracts and other financial opportunities, saving invaluable time and achieving greater accuracy in their efforts to maximize their cash on hand.”
With the addition of Axiom Treasury Cash Management, healthcare finance teams will be able to migrate from using spreadsheets for cash forecasting and working capital needs to a robust solution that is fully integrated with Syntellis’ Axiom Healthcare Suite. Axiom Treasury Cash Management consolidates the analysis of accounts payable into a single view through automatic combination of bank balances with expected cash flows. This single, consolidated view eliminates the risk of human error associated with manual data entry and empowers organizations to confidently allocate cash on hand without concern as to the accuracy of treasury data. Additionally, because the solution incorporates bank connectivity, organizations will be able to view all accounts from one location, reducing fees and minimizing the costs and time associated with cash transfers.
“The financial stress caused by COVID-19 in 2020 and into 2021 has highlighted the need for treasury teams to operate more efficiently across multiple disciplines,” said Robert Turner, Managing Director in the Treasury and Capital Markets practice at Kaufman Hall. “Syntellis’ Axiom Treasury Cash Management solution focuses on moving clients away from traditional manual processes into automated practices and providing transparency into consolidated, daily cash flows. The solution delivers automation across cash and liquidity sizing, accounts payable optimization and ensures that bank fees are tracked and align with the market. We believe that focusing on the unique needs of our clients brings strategic advantages to finance and treasury teams.”
To learn more about Axiom Treasury Cash Management and Syntellis’ offerings, visit the Syntellis Performance Solutions website.
About Syntellis Performance Solutions
Syntellis Performance Solutions, previously Kaufman Hall Software, provides innovative enterprise performance management software, data and analytics solutions for healthcare organizations. Its solutions include enterprise planning, cost and decision support, and financial and clinical analytics tools to elevate organizational performance and transform vision into reality. With over 2,800 organizations and 450,000 users relying on its Axiom and Connected Analytics software, combined with No. 1 rankings from Black Book Research and an HFMA Peer Review designation for six consecutive years, Syntellis helps healthcare providers acquire insights, accelerate decisions and advance their business plans. For more information, please visit www.syntellis.com.