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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.

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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.

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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.

 

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