Following the appointment of a new chief financial officer, ALUR reevaluated its treasury function with an eye towards driving greater efficiency, improved security and process automation for increased productivity. To achieve these goals, they decided to implement a treasury strategy that focused on leveraging emerging technologies and, for that, they turned to Citi.
Citi worked closely with ALUR’s treasury and IT teams, as well as their external enterprise resource planning (ERP) provider, to implement the bank’s host–to–host solution, CitiConnect®. This tool enabled direct connectivity between ALUR’s ERP and the bank’s server, safeguarding and shielding the entire payment process, as well as positively impacting the speed of payment flows.
By using the CitiConnect ERP Integrator, ALUR was able to reduce the implementation timeframe to less than two months; as compared to the around six months that starting from scratch would have taken. At the same time, the Citi solution helped diminish the complexity and costs of the ERP integration initiative.
ALUR is now benefitting from a faster payment process that relies on automation to achieve straight–through processing. CitiConnect has helped them save time, increase efficiency, and free up treasury resources, allowing them to focus on more strategic objectives. The digital solution has also contributed to enhanced operative controls such as payment status and statements visualization, improved security by exchanging encrypted information, and provided traceable and detailed payment information.
CitiConnect’s automation has reduced costs for the client by eliminating the manual effort associated with entering and tracking data.