Large and medium-sized corporations, or Corporates, are a vibrant and fast growing segment of the business sector in India. They add tremendous value to the country through their products and services, employee large portions of the citizens of the country and are a strong driver in the engine of growth and stability.
Corporates face much competition and challenges in todays global market place, and therefore must operate efficiently, with confidence and predictability. Corporate treasurers are at the forefront in meeting this challenge.
As a consequence, Corporate treasurers must:
- Have visibility of their cash across local and foreign banking relationships
- Achieve efficiency in managing their working capital
- Ensure compliance to local regulations, impacting global operations (such as SOX and SEPA)
- Operate their business units as not just cost-centres but enablers of their company’s strategy, affording flexiblity and agility in business decision making and operations
SWIFT India offers a single window to Corporate treasurers as they communicate across their banking relationships. This enables standardisation, rationalisation, automation, and improved security.
From multiple standards and protocols to a single, standardised global platform SWIFT India allows you to enjoy these benefits:
- Global visibility on cash and trade
The ability to receive end-of-day or intra-day reporting directly from all your banks increases funds visibility and gives you the ability to better invest
- Lower cost of financial transactions
SWIFT India allows for channel rationalisation, a single channel versus a multitude of different channels. The more banking relationships, the higher the savings. Additionally, standards used over SWIFT India allow increased straight-through-processing (STP) (content rationalisation) and therefore staff productivity gains, for example by eliminating the need to re-key payments.
- Improve security / reliability
The ability to control payment initiations and increased security, while more difficult to quantify, are also recognised as key benefits. In some cases, our 99.999% network availability is important as some corporates suffer from regular break-downs of their e-banking systems.