Avatar Partners and Axway Inc. are joining forces to provide an automated global treasury system that lets corporations transact business with their financial services providers around the world, says Marlo Brooke, Avatar president. Users will be able to tap into an integrated SWIFT (Society for Worldwide Interbank Financial Telecommunication) pipeline that provides straight-through processing and statement reconciliation for companies that cannot afford the prohibitive SWIFT costs.

Brooke says Avatar, a leader in financial supply chain integration, and Axway, a provider of collaborative B2B solutions, have been able to slash costs by leveraging existing account and ERP systems, and combining the Axway solution with a SWIFT service bureau model. In addition to configuring the solution in-house, it can be used as a software as a service (SaaS) delivery model that shares expenses across several accounts. “SaaS lets us take companies that are in the Fortune 2000 space and provide a compelling return on investment,” says Brooke.

Corporations that take advantage of the technology, which will be officially launched next week, will have access to dashboards that provide visible, daily updates of cash positions. “The way some of these foreign banking relationships work, a company might not be able to see a statement for a week or more,” explains Brooke. “So the cash would just sit there, not being of any use to the company.” Now, she explains, treasuries can view their balances at a glance, and use available funds in the most efficient manner.