B2B Payments

B2 Targets Treasurers With Mobile Cash Management Tool

Payments software firm B2 Group is rolling out a mobile cash management solution for the corporate treasurer.

The company announced news on Tuesday (Oct. 3) that it is rolling out its Mobile Cash Management (MCM) service, a tool that comes with a mobile app for smartphones and tablets. The solution enables corporate treasurers to access B2’s Multi-Bank Integrator, a cloud-based tool that integrates information from multiple banks to provide visibility into outgoing payments and incoming statements.

The cash management solution automates reconciliation of credit and debit card payments, provides company-wide visibility into cash positions, automates various processes, including supply chain finance and cash pooling, and enables a real-time view of data.

According to B2 Group CEO Phil Boland, the Mobile Cash Management solution is the result of speaking to corporate treasurers in need of visibility into enterprise-wide cash position and remote access to transactional data.

“We listened to our clients and MCM is the result. We have been delighted that the success of Multi-Bank thus far has validated B2’s vision of an outsourced banking integration service,” he said. “The delivery of MCM … is a further step toward positioning our industry-proven platform as the ‘go-to’ service of choice for corporates wishing to streamline their payments, statements and other messaging processing with banks.”

“The modern corporate treasurer is mobile, and talking to the market convinced us that our solutions needed to be mobile as well,” said B2 Director of Strategy & Business Development Bill Wrest in another statement. “This is especially true for treasurers at multinationals with banking relationships around the world who need up-to-the-minute information without being tied to their desks.”

A survey released last year by TD Bank found that corporate treasurers consider mobility a bigger priority than speed when it comes to managing payments. Forty-seven percent of surveyed treasurers said real-time payments are not essential, while nearly three-quarters said self-service and mobile commercial finance capabilities are crucial.

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