Customised client credit gave tech award
Microsoft scored gold when magazine Treasury & Risk presented the winners of this year’s version of its Alexander Hamilton Award.
The Worldwide Payment Solutions group of Microsoft tread in when customers ask for payments outside the standard 30- or 60-day net terms. Its most popular service is called XPT, for extended payment terms – a program that makes it possible to award prospective customers with longer terms without having to negotiate loan agreements independently.
A smooth implementation of systems to improve the XPT program, and expand it across the world, has now rendered the team a gold medal in this year’s Alexander Hamilton Award in Technology Excellence.
Many people involved
The project produced in-house capability to originate credit requests, as well as a plug-in, to the corporate ERP system, for supporting servicing requirements. This encompassed collaboration between several departments, from collections and cash applications to billing and customer service.
Within four months, the project team developed its desired solutions and moved a multibillion-dollar portfolio of accounts receivable to new software and a new servicing provider.
Process automation in focus
Silver was awarded to Baird, for APIs used to automate booking of payments which defy standardization. Stanley Black & Decker scored bronze for a project where all treasury operations were centralised onto a single treasury management system, adding automation where possible.