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SWIFT Connectivity for Corporate Treasurers 2009 |
A Global Payments Strategy at Alcatel-Lucent
Xavier Hourseau, Director, Information Systems and Operations, Alcatel-Lucent
Categories: Cash Management, Intercompany Financing, Payments, Strategic Treasury, SWIFT, Technology, Working Capital Management, Technology Articles, Bank Relationships, Receivables
Until 2005, Alcatel had been using a banking system provided by one of its primary cash management banks for high volume payments and we had no immediate plans to change. However, in December 2005, the bank announced that the system would be decommissioned during the course of the following year, which meant that we had no choice but to change the way in which we made our payments. We had two options: either to migrate to the new web-based banking system that the bank proposed, or find an alternative, bank- agnostic tool for bank communications. We reviewed the new web-based banking tool, but decided that it was less user-friendly than we would have liked, and we saw the attraction of a bank-independent system. We also wanted a solution that would support IBAN (International Bank Account Numbers) in anticipation of SEPA (Single Euro Payments Area) which the bank’s system did not do...
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