GB2387245A

GB2387245A - Global Corporate Treasury Monitor

Info

Publication number: GB2387245A
Application number: GB0206946A
Authority: GB
Inventors: Symeon Vekinis; Time Treasury Systems Ltd Real
Original assignee: Individual
Current assignee: Individual
Priority date: 2002-03-23
Filing date: 2002-03-23
Publication date: 2003-10-08
Also published as: GB0206946D0

Abstract

A computer-implemented system(100) and method, having a graphical user interface with multiple windows, for the combination and display in real-time, of present and projected bank account detail, expressed in various currencies, via a links to account holding Financial Institution(110), Foreign Exchange pricing providers(120) and the Account Payables and Receivables systems(130). The system provides for real-time cash-flow management through the ability, based on predetermined set of watches and conditions, to recommend or execute automatically, transfers between accounts or foreign exchange trades.

Description

Description 238 7245

(a) FIELD OF THE INVENTION

The present invention relates generally to a method of continuous data retrieval, 5 combination, presentation and transaction execution in a transactional system.

More particularly, the invention is a computer implemented system and method for combining continuously updated bank account information, account receivables, account payables, spot and future contracts of foreign currency, within a windows display interface, that calculates and presents immediate and lo future of account balance, in a variety of currencies. Furthermore, comparisons of alternative results (scenario execution) on immediate or future account liquidity are presented and best possible recommended action to maximise results is advised. The information can be simultaneously displayed in multiple windows on one computer screen.

15 The connectivity required by this architecture can be accomplished in a number of alternative embodiments for example: using the internet, and/or a wide-area network, and/or a local area network, andlor a wireless network or other type of connection that linlc the user to one or more servers, containing bank account details, foreign exchange pricing and accounts payable/receivable information.

(b) BACKGROUND OF THE INVENTION

One of the fundamental responsibilities and duties of a Corporate Treasure is 'to understand the company's cash flows and manage surpluses and shortfalls so that 5 cash is always available as and when required.' An additional responsibility is to maximize the benefit of current and future cash surpluses and devise methods and systems to predict future requirements.

In the cases where a company maintains accounts in many geographies (countries) and currencies, the information on all aspects of the payments and 0 receivables cycle is complex and ultimately relies on accurate and reliable information from the accounts management, the bank account statements and the

prevailing foreign exchange rates.

In the presently available Treasury Management systems, these components are known, but it remains a complicated task to project and compare multiple bank 15 account liquidity on a real time, continuously updated basis.

As to the execution of the required banking transactions (for example transfers between accounts) these are often executed through an on-line or off-line Electronic Banking facility available from the Financial Institution where the relative account is held. For corporations that maintain accounts in more than one 20 Financial Institution and in many locations and currencies, multiple on-line or off line Electronic Banking facilities are needed to execute these transactions.

The present invention eliminates multiple Electronic Banking systems, as it reduces the complexity to a simple separate connection component within one system, and provides a single presentation method (including combination) of the 2s information. Furthermore, the real-time link to the Foreign Exchange pricing/trading system (eg Reuters, EBS or FX-all) and the real-time link to the accounts management system (eg R/3 from SAP AG of Walldorf, Germany) bring in one display future cash flow projections for each account and in each currency.

Present computer based systems do not meet the needs of a Global Corporate Treasurer who requires explicit information to enable accurate and timely decisions. Until the present invention, there has not been a product that combines.

in real time, information components from Financial Institutions' Foreign Exchange provides and Enterprise Resource Planning systems and recommends optimum and appropriate actions to maximize fund flow efficiency and minimize finding costs.

(c) SUMMARY OF THE INVENTION

The present invention provides a system and method for the performance of complex data processing on a real-time basis. It is a transaction management 5 system that solves the problems of lack of consolidation of information required by Global Corporate Treasurers, who require accurate and up-to-the-minute information and the elimination of multiple implementations of electronic banking systems. In an exemplary embodiment, the system includes one or more clients (e.g. terminals or PCs) connected via a network to an application server. The l o application is executed in the server and provides for the following actions: 1. Repeated requests, at pre-set intervals, for available balance and statements

sent to all banks where accounts are maintained. Information retrieved is stored in a relational database and is displayed on the client terminals.

2. Repeated requests, at pre-set intervals, for spot Foreign Exchange Rates from a 15 provider (ex Reuters). Information retrieved is stored in a relational database and is displayed on the client terminals.

3. Repeated requests, at pre-set intervals, for account receivables, in each currency and extended up to 6 months in the future, to the Accounts Management system. Information received in stored in the relational database.

20 4. Repeated requests, at pre-set intervals, for account payables, in each currency and extended up to 6 months in the future, to the Accounts Management system.

Information received in stored in the relational database.

5. Continuous display of account(s) balance(s), expressed in a predetermined currency/currencies, converted using real-time foreign exchange rates feed.

25 6. Generation on demand of future account balances, taking into account payables and receivables as retrieved from the accounts management system 7. Advise of surplus liquidity and recommendation of an appropriate future contract to maximise benefit (arbitrage) 30 8. Ability to accept a 'drag-and-drop' command to move and possible convert funds between accounts, within the same of different banks, using the best available pricing.

The system is a windows-based computer software program containing multiple windows that simultaneously allow for the display of account balances, in a variety of options such as, consolidated by currency, by Financial Institution, up to-date or projected with equivalent values in various currencies using applicable s exchange rates. Users can perform transfers between accounts, through a 'drag and drop' technique. The system can also provide for automatic initiation and execution of transfers between accounts (events) without requiring the presence of the user, if certain conditions (watches) are met.

The present invention is preferably implemented as a Global Corporate Treasury lo Monitor computer program, running on one or more client computers, that communicate with one or more servers hosting bank account information, enterprise resource planning (ERP) applications servers, and foreign exchange providers offering pricing and trade execution.

In the preferred embodiment, the communications network is a combination of 5 Internet and/or wide area network (WAN) and/or local area network (LAN) and/or a wireless communication network.

The Global Corporate Treasury Monitor computer program in the client computer controls and manages the communication connection, the transmission and receipt 20 of data, the display ofthe information and the initiation and execution oftransfers and trades through a graphical user interface on the user's display terminal. The user initiates the computer program at the client computer by selecting the program using the graphical user interface. If the user is not already actively receiving and sending transmissions over its communications network, the 25 program initiates the communications network connection. The present invention comprises a computer implemented method for consolidating information received from many sources, displaying the said information and offering the option to manually or automatically execute transfers between accounts with or without associated foreign exchange trades.

The method comprises the step of using the Global Corporate Treasury Monitor computer program, having a graphical user interface display with multiple windows, to display the account balances or detailed statements in a variety of

options. For example consolidated by currency, by Financial Institution, current or Is projected to a specific future date, with equivalent in various currencies using the

applicable exchange rates. The information displayed is continuously updated through an internet connection and/or wide area network and/or local area network and/or wireless network and/or other type of network connection to Financial Institutions, ERP system Foreign Exchange providers etc. The displaying and continuously updating bank account balances or individual transactions, comprises requesting a balance or statement from one or more

servers, receiving the account balance or detailed statement from one or more

servers and comparing the received data item with archived data for that item. If lo the received data item matches the archived data, the data item is discarded. If the received data item does not match the archived data, the data is archived, displayed to the user and flagged as new on the graphical user interface display.

Appropriate calculations are performed to data elements and are displayed. These steps are repeated on a periodic basis, while the Global Corporate Treasury 15 Monitor computer program is executed. Additional (outside the pre-determined cycle) data item requests may be generated by the user or by the Global Corporate Treasury Monitor computer program, in response to the occurrence of a user defined condition (watch).

20 The displaying and continuously updating of projected account balances or individual future payments or receipts in the accounts, comprises requesting relative payables and/or receivables details from the Enterprise Resource Planning (ERP) system, from one or more servers, and comparing the received data item with archived data for these items.

2s If the received data item snatches the archived data, the data item is discarded. If the received data item does not match the archived data, the data is archived, displayed to the user, flagged as new on the graphical user interface display, appropriate calculations are performed to data elements and are displayed. These steps are repeated on a periodic basis, while the Global Corporate Treasury 30 Monitor computer program is executed. The data item request may be generated by the user or by the Global Corporate Treasury Monitor computer program, in response to the occurrence of a user defined condition (watch).

The user initiates transfers and/or foreign exchange trades between own accounts 35 within one or multiple Financial Institutions and/or Foreign Exchange Provider

servers, while displaying and continuously updating bank account status on the graphical user interface display. The transfers between accounts within the same or different Financial Institutions, and the trades with Foreign Exchange providers, may be executed through an internet connection, andlor a wide area s network, and/or local area network, and/or wireless network, and/or other type of network. The Global Corporate Treasury Monitor computer program comprises of an event manager that monitors for the occurrence of a user-defined condition (watch), and lo performs a user-defined action (event) in response to the occurrence of the condition. The user-defined action may comprise executing a transfer of funds between accounts, within the same or different Financial Institutions, a trade (in the spot or forward market) with a Financial Institution or a Foreign Exchange provider or other defined action.

The execution of transfers between accounts within the same or different Financial Institutions comprises of pointing to the account and entering the amount (or accepting the present balance) to be transferred and sending the request to the Financial Institution. At the same time, if currency conversion is 20 required, a foreign exchange trade request, for the same amount, is sent to the Foreign Exchange provider. Both these actions result in a return from the respective servers with the applicable rate, requesting confirmation to proceed.

The user is notified of the quoted exchange rate between the currencies, the relative amounts, taking into account the relative charges, together with the 25 change in account balance. A confirmation to proceed is then entered by the user for the selected action. An alternative embodiment comprises of a predefined watch' that triggers an 'event' to always choose the action most economically favourable. 30 The notification may take the form of changing the colour of the account balance, the exchange rates and the equivalent in any of the target currencies or the projected cash flow. Account balances with each separate Financial Institution may be visually distinguished by colour coding the display.

g A further option for the Global Corporate Treasury Monitor computer program is to allow the user to pre-set, via the 'watch' facility. The user may pre-determine under what condition transfers will be advised for manual execution or executed automatically between accounts. That could mean a spot or forward trades, for 5 specific or the total amount available. These automatic transactions, may comprise of standing instructions to use funds from an account with positive balance in one currency to cover a negative account balance in another currency, in the same or another Financial Institutions to buy a 'forward' contract to cover a projected requirement, or to liquidate a position after a certain period of time has elapsed or 10 any of user specified general criteria are met.

The user may export data for use with a separate computer application program The separate computer application program may be a financial management application program, tax application program or spreadsheet application program.

A user interface display comprises allowing the user to define the data views, reports and export, the levels of security access, connectivity and other system wide options. The user interface display comprises allowing the user to view, add, modify and delete bank account records, the connectivity and security parameters 20 for each Financial Institution and other related parameters that are need to be defined to allow the execution of requests for transfers, account status and foreign exchange trades. The user interface display comprises allowing the user to view, add, modify and delete Foreign Exchange pricing and trading relationships, the connectivity, and any other related parameters that are need to be defined to allow 25 the execution of requests for pricing and foreign exchange trades. The user interface display comprises allowing the user to view, add, modify and delete Enterprise Resource Planning system connectivity, security and any other relative related parameters that are need to be defined to allow the connection and exchange of information on accounts payables and receivables against the defined 30 bank accounts.

The user interface display comprises allowing the user to specify conditions (watches) under which specific operations (events) are triggered. In particular, monitoring for the occurrence of a condition (watch) and allowing the user to

specify an action (event) to be taken by the Global Corporate Treasury Monitor computer program if the condition occurs.

The present invention is computer executable software programme, stored on a s computer readable medium, the code for a computer implemented method for the Global Corporate Treasury Monitor program, comprising code for allowing a user (Corporate Treasurer) using a computer with a display having a graphical user interface with multiple windows, to monitor and/or initiate transfers between accounts and/or initiate foreign exchange trades over Internet or other connection, lo displaying and continuously updating bank account and projected cash flow information on the same display, wherein the bank account information comprises individual account balance, statement detail, the foreign exchange pricing

information displayed comprises continuously extracting and updating the foreign exchange pricing information from selected provider.

The present invention also comprises a computer-readable medium, having computer-executable software code stored thereon, the code for a computer implemented method for initiating and executing transfers between accounts and foreign exchange trades over the Internet or other method for connecting and 20 exchanging information between computers, comprising code for allowing a user using a computer with a display having a graphical user interface with multiple windows, to initiate transfers between accounts over the Internet while displaying and continuously updating bank account and projected cash flow information on the same display, wherein the bank account information comprises individual 25 account balance, statement detail, the foreign exchange pricing information.

(d) BRIEF DESCRIPTION OF THE DRAWINGS

FIG. 1 is a diagram of an environment suitable for the present invention.

FIG. 2 is a diagram of the prior environment 5 FIG. 3 is a diagram of a computing system, using the internet as the connectivity mechanism, in which the present invention is implemented.

FIG. 4 is a diagram of a computing system, using alternative connectivity mechanisms in which the present invention is implemented.

FIG. 5 is a block diagram of the user display interface of the Global Corporate lo Treasury Monitor system.

FIG. 6 & Fig 6a is a diagram of the data structure ofthe preferred embodiment of the present invention.

Fig. 7 is a block diagram of the event manager.

Fig. 8 is a block diagram of the user display interface for the update and 15 maintenance of the event manager detail.

Fig. 9 is a block diagram of the user display interface for the update and maintenance of the Bank(s) and Account(s) detail.

Fig. 10 is a block diagram ofthe user display interface for the update and maintenance the FX Trade and pricing provider(s) detail.

20 Fig. 11 is a block diagram of the user display interface for the update and maintenance of the ERP (Enterprise Resource Planning) system(s) detail.

Fig. 12 is an exemplary version ofthe 'Static Consolidated Bank Account Balances by Currency' display of the Global Corporate Treasury Monitor system.

Fig. 13 is an exemplary version of the 'Dynamic Consolidated Accounts Balances 25 by Currency' display of the Global Corporate Treasury Monitor system.

Fig. 14 is an exemplary version of the 'Static View of specific Currency by Institution and Account' display of the Global Corporate Treasury Monitor system. Fig. 1 S is an exemplary version of the 'Dynamic View of specific Currency by 30 Institution and Account' display ofthe Global Corporate Treasury Monitor system. Fig. 16 is an exemplary version of the 'Projected View of specific Currency by Institution and Account' display of the Global Corporate Treasury Monitor system.

l\ Fig. 17 is an exemplary version of the 'Static Consolidated Bank Account Balances and FX rates View' display of the Global Corporate Treasury Monitor system. Fig. 18 is an exemplary version of the 'Dynamic Consolidated Bank Account 5 Balances and FX rates View' display of the Global Corporate Treasury Monitor system. Fig. 19 is a exemplary version of the '7-day Projection of Consolidated Bank Account Balances and FX rates View' display of the Global Corporate Treasury Monitor system.

lo Fig. 20 is a exemplary version of the '30-day Projection of Consolidated Bank Account Balances and FX rates View' display of the Global Corporate Treasury Monitor system.

Fig. 21 is an exemplary display of simultaneously displaying banks, accounts and transaction detail (statement) within one display window.

15 Fig. 22 is an exemplary display and user interface to perform transfers between accounts. Fig. 23 is an exemplary display of events and recommended actions

(e) DETAILED DESCRIPTION OF THE PREFERRED EMBODIMENT

The present invention, however, is not limited to any particular application or environment and it applies equally to similar environments where real live events 5 from multiple sources need to be monitored and actions executed automatically.

Those skilled in the art will find that the present invention may be advantageously applied to any application or environment where real-time processing of multiple instances of events that affect the state of a central is desirable.

The following description of the embodiment is presented herewith for the

purpose of illustration not limitation.

FIG. 1 is a diagram of a Real Time Corporate Treasury environment suitable for the application of the present invention. The system is executed by the operating system within the client workstation. Through on-line connections via Internet, 15 information on FX prices from FX providers (120), current bank account balances, statement detail (110), receivables(130) and payables(130) are received

and processed.

FIG. 2 is the equivalent previously implemented process without the benefit of the 20 Global Corporate Treasury Monitor. Separate Cash Management systems (210) are implemented to access account detail from different banks and accounts (215).

The same holds true with FX rates (220) and Accounts Payables/Receivables (230) although in these instances, the connectivity, if it exists (240) is manually invoked for the purposes of reporting.

2s FIG 3 is a detailed block diagram of the Global Corporate Treasury Monitor with the various remote information providers connected, either continuously on line or on demand via internet. The central core engine controls the user interface (352), the network manager (340), the data storage facility (353), the report generator 30 (354) and the data export function (355). The engine interrogates the database (353) for connectivity standards for the FX rates provides (320), Barks (310) and accounts payables/receivables systems (330) and requests information from each.

Information received is processed through the event manager 351) and then presented to the user on the user interface (352). The user can invoke the same

interface to execute transfers between accounts, view recommendations for action or to extract reports (354) or data (355) for external processing. The report generator 354 accesses data from data storage (353) and develops reports related to bank accounts, statement and FX equivalents that are viewable by the user via

5 the user interface (352). The export function 355 allows the user to export data from data storage (353) in another file format for use with a separate application (i. e. a financial management application program, tax application program or a spreadsheet application program).

lo Fig. 3 shows a system block diagram of an alternate embodiment ofthe Global Corporate Treasury Monitor system. The central core engine controls the user interface (352), the network manager (340), the data storage facility (353), the report generator (354) and the data export function (355). The engine interrogates the database (353) for connectivity standards for the FX rates provides (320), 15 Banks (310) and accounts payables/receivables systems (330), and requests information from each via alternative connectivity options such as a Wide Area Network (WAN), Local Area Network (LAN), wireless or other type of server to network. Information received is processed through the event manager 351) and then presented to the user on the user interface (352). The user can invoke the 20 same interface to execute transfers between accounts, view recommendations for action or to extract reports (354) or data (355) for external processing. The report generator (354) accesses data from data storage (353) and develops reports related to bank accounts, statement detail, FX equivalent in various future projections etc.

that are viewable by the user via the user interface (352). The export function 25 (355) allows the user to export data from data storage (353) in another file format for use with a separate application (i. e. a financial management application program, tax application program or a spreadsheet application program).

30 Fig. S is a block diagram of the user display interface (550) of the Global Corporate Treasury Monitor system. The user display interface (550) allows the user to interact with the Global Corporate Treasury Monitor application. From the main window (550), the user can perform multiple tasks. The user can view, add, modify and delete Bank details (506), FX Provider details (507), ERP systems 35 details (508). The user can configure the display interface through Display

Options function (505), the access profiles through User Options function (593).

The user can perform transfers between accounts through the transaction management facility (503), and set-up to 'watch' for specific events through the Event Manager function (509) that cause actions to be executed at (591). Finally, 5 in addition to the automatic execution in regular intervals as defined in the relative details functions (506, 507, 508) the user can execute off-cycle information retrievals from the Bank Accounts (502), FX providers (501) and ERP systems (504). The information is presented on the main window (550) as defined in the Display Option (505).

Fig. 6 and 6a shows a block diagram of the data storage function (600) of the Global Corporate Treasury Monitor system. The data storage function (600) is responsible for maintaining the static data during and between user sessions.

Included are bank records (610), bank account records (620), account 5 activity/transactions (630), transfer between accounts records (650), FX trades records (670), event records and static watches (640 & 660). The FIG 6a is a continuation of FIG 6 (602) and shows the FX traders records (675), The static account records (615), ERP records (635), FX trades (675), as well as User Profile details (680) and user action audit trail (690). Within each of these data 20 definitions, details corresponding to each instance are stored and maintained. For example, banks record (610) may include bank name, account number(s), account name(s), account currency(s), connectivity option, security options, etc. Bank account records (620) may include account balance, date, description and action

performed. Account activity records (615) may contain bank, currency, account 2s name, transaction identifier, debit or credit indicator, date, description, etc.

Events may include information on the resultant action and advise selected/performed. Transfers between accounts (650) may include the names of the bank(s), the account numbers, the account currency(s), amount(s) value dates, FX rate etc. Watches (660) may include the bank, account number, account 30 currency, action trigger description, such as negative beyond a fixed amount.

Trades (670) may include names of counter-party, currency pair, rate, amounts, transaction date, delivery date. FX trader records (675) may include name, profile, pricing standards, connectivity standard and applicable communication security.

IS FIG 7 shows a block diagram of the Event manager function (700) which is controlled by the core engine (705). Event Manager is designed to monitor for specific instances or watches that are monitored against specific conditions. These are stored in the Stored Watches facility (707) . These watches are defined in terms s of a condition for a specific bank account. For example a watch could be an account balance not to be below a certain level or a differential between two subsequent (say 10 mans apart) equivalent in a predetermined currency, is greater than a percentage. The Event Monitor function (706) is invoked if any of the conditions defined in the watches is encountered. In that case, the User Defined l o Events function (704) is executed which in turn might execute (or recommendexecution) of either an FX trade (702) to avoid a widely fluctuating currency or a transfer from/to another account (703) to cover a negative balance.

5 Fig. 8 shows a block diagram of the Event Manager (800) user display interface (801). Using the Event Manager display interface (801), the user can view pre stored event (802), add a new event (804), edit/modify a pre-stored event (806) or delete a pre-stored event (808). The same interface is used to view a pre-stored watch (803), add a new watch (805), edit/modify a pre-stored watch (807) or 20 delete a pre-stored watch (809) FIG 9 shows a block diagram of Bank details user display interface (901). Using the Banks display interface (901), the user can view pre- stored bank details (902), add new bank details (903), edit/modify pre- stored Bank details (904) or delete 25 pre-stored Bank details (905). Bank details consist of all parameters and information required to define location, account number, access methodology. It includes, but is not limited, the security access codes, network access etc. FIG 10 shows a block diagram of the Foreign Exchange Counter Party user 30 display interface (1001). Using the Foreign Exchange Counter Party user display interface (1001), the user can view pre-stored Foreign Exchange Counter Party details (1002), add new Foreign Exchange Counter Party details (1003), edit/modify pre-stored Foreign Exchange Counter Party details (1004) or delete pre-stored Foreign Exchange Counter Party details (1005). Foreign Exchange 3s Counter Party details consist of all parameters and information required to define

lb location, brokerage (or equivalent) account number, access methodology. It includes, but is not limited, the security access codes, network access etc. FIG 11 shows a block diagram of the Enterprise Resource Planning user display 5 interface (1101). Using the Enterprise Resource Planning user display interface (1101), the user can view pre-stored Enterprise Resource Planning details (1102), add new Enterprise Resource Planning details (1103), edit/modify pre-stored Enterprise Resource Planning details (1104) or delete pre-stored Enterprise Resource Planning details (1005). Enterprise Resource Planning details consist of lo all parameters and information required to define location, accounts payable and receivable structures, bank and account details where payments are made or credited, access methodology. It includes, but is not limited, the security access codes, network access etc. 15 FIG 12 shows an exemplary display of 'Static Consolidated Account Balances' window (1200). In this single window, invoked by the user from the main display, all account balances (1201) by currency (1202) are added and displayed. In addition, applicable FX rates are retrieved from the FX providers and the balances are expressed in various predefined currencies (1204,1205,1206). The display is 20 static and shows the positions at the time when the function was invoked.

FIG 13 shows an exemplary display of 'Dynamic Consolidated Account Balances' display window (1300). In this single window, invoked by the user from the main display, all account balances (1301) by currency (1302) are added 5 and displayed. In addition, applicable FX rates are retrieved from the FX providers and the balances are expressed in various predefined currencies (1304,1305,1306). The display is dynamic and keeps track of positions in real time, by continuously retrieving account balances and applicable FX rates and then highlighting for a predetermined time period (red for increase in value, green 30 for decrease in value) any changes as they occur (1307,1308).

FIG 14 shows an exemplary view of a 'Static view of a single currency accounts by Institution' (1400). In this single window, invoked by the user from the main display, all account balances in the same currency (in this instance Singapore 35 Dollar, SGD) are displayed. The display includes the name of the Institution

-- i) (1401), the account description (1402) and the balance (1403). The display is

static and shows the account balances at the time when the function was invoked.

FIG 15 shows an exemplary view of a 'Dynamic view of a single currency 5 accounts by Institution' (1500). In this single window, invoked by the user from the main display, all account balances in the same currency (in this instance Singapore Dollar, SGD) are displayed. The display includes the name of the Institution (1501), the account description (1502) and the balance (1503). The

display is dynamic and keeps track of positions in real-time, by continuously lo retrieving account and then (red for increase in value, green for decrease in value) any changes as they occur (1504,1505).

FIG 16 shows an exemplary view of a 'Projected View, Accounts by Institution in 5 a specific currency' (1600). In this single window, invoked by the user from the main display, all the current account balances in the specified currency are combined with information from the accounts payable and receivables systems to arrive at a projected account balances as a specific point in the future. This view is meant to provide an indicative account status, as there are numerous other 20 transactions that might be credited or debited to these accounts within the timeframe projected. The display includes the Financial Institution where the account is held (1601), The account name or description (1602) and the balance.

This exemplary view could be static (as of when the report request was executed), or dynamic, providing real-time balance update, by continuously retrieving bank 25 account and payables/receivables information and then for a predetermined time period (for instance red for increase in value, green for decrease in value).

FIG 17 shows an exemplary display of 'Static Consolidated Account Balances and FX Rates view' window (1700). In this single window, invoked by the user 30 from the main display, the total value in each currency (1701) is displayed (1702).

Further more, each currency is converted at the Foreign Exchange rate applicable, when the report request was executed. In the present instance, the balances are converted to USD (1704) using the applicable USD rate (1703), to GBP (1706) using the applicable GBP rate (1705), to Euro (1708) using the applicable EUR 35 rate (1707) and to JPY (1710), using the applicable JPY rate (1709).

is FIG 18 shows an exemplary display of 'Dynamic Consolidated Account Balances and FX Rates view' window (1800). In this single window, invoked by the user from the main display, the total value in each currency (1801) is displayed (1802) 5 using a continuous update from the Financial Institutions account balance servers.

Further more, each currency is converted using a continuous request for a real time update from the Foreign Exchange providers. In the present instance, the balances are converted to USD (1804) using the current USD rate (1803), to GBP (1806) using the current GBP rate (1805), to Euro (1808) using the current EUR 0 rate (1807) and to JPY (1810), using the applicable JPY rate (1809). The dynamic nature of the view is demonstrated by a change in the Singapore Dollar (SOD) balance, which affects all the equivalent balances in the various currencies (1812) or through a change in the applicable Exchange Rate between EUR and USD, which affects the USD equivalent of the EUR balance. These changes are 15 highlighted for a predetermined time period (for instance red for increase in value, green for decrease in value).

FIG 19 & 20 shows a exemplary displays of 'Projected Consolidated Account Balances' windows (1900 & 2000). In this single window, invoked by the user 20 from the main display, the total projected value in each currency (1901 & 2001) is displayed (1902 & 2002) by combining the present balance and information retrieved from the accounts payable and receivables system. Further more, each currency balance is converted at the 7 day forward (1903 & 2003) Foreign Exchange rate applicable, when the report request was executed. In the present 25 instance, the balances are converted to USD (1904 & 2004) using the applicable 7day & 30day forward USD rates (1903 & 2003), to GBP (1906 & 2006) using the applicable 7day & 30day forward GBP rates (1905 & 2005), to Euro (1908 & 2008) using the applicable 7day & 30day forward EUR rates (1907 & 2007) and to JPY (1910 & 2010), using the applicable 7day & 30day forward JPY rates so (1909 & 2009). This exemplary view could be static (as of when the report request was executed), or dynamic, using real-time account balance, payables/receivables and Foreign Exchange rates updates. These updates are received continuously and then highlighting any changes for a predetermined time period (for instance red for increase in value, green for decrease in value).

q FIG 21 shows an exemplary view ofthe "Transaction Execution - view by Bank account by currency' window (2100). This window offers the most detailed view of the various Financial Institution accounts. In the present instance the account 5 currency (2101), the Financial Institution where the account is held (2102), the account name/description (2103) and the account balance (2104) are displayed.

Furthermore, the user can select the specific account, in this instance the account European Treasury', a USD denornnated account with JP Morgan/Chase in New York (2109), to extract account statement detail, such as Debit entries (2105),

lo Credit entries (2106), Transaction date (2107) and Description (2108).

FIG 22 shows an exemplary view of the 'Transfer between accounts' window (2200). This window is invoked through "Transaction Execution - view by Bank account by currency' window (2100). The user points and right-clicks an account 5 that wants to transfer funds from (2209) and 'drags' to the account were funds (or the appropriate equivalent is account currencies are different) are to be credited (2210). As with windows 2100, the account currency (2201), the Financial Institution where the account is held (2202), the account name/description (2203)

and the account balance (2204) are displayed. In the present instance the user has 20 selected to enter (2205) the amount in USD dollars to be credited ($5,000,00). The applicable exchange rate and provider are then displayed (2206) which results in the equivalent amount (2207) in EUR to be shown (E5,777,461), with the reference number (2208).

25 FIG 23 shows an example of a recommendation automatically produced as a result of a 'watch' set-up in the system through the 'event manager', described in FIG 7. The system has calculated that purchasing a 30-day forward GBP for $12,000,000 will provide a benefit of $45,000 versus holding the USD currency and buying GBP in the spot market on the day it is required (30 days hence). The 30 differential is extracted by calculating the profit of holding a large USD balance for 30 days versus the holding a GBP balance for 30days.

Similarly, another recommendation is shown, to buy Singapore Dollar (SOD) by selling Japanese Yen (JPY) with a 7day forward contract.

Claims

Claims

1. A computer implemented method electronically monitoring bank accounts, using equivalent values in various currencies and cash flow 5 projections based on receivables and payables information from enterprise resource planning systems. The method comprising the steps of using a computer program with a graphical user interface display having multiple windows, allowing a user to execute transfers between accounts and/or enter into foreign exchange contracts, while displaying and continuously updating 10 current and projected bank account data on the graphical user interface display. 2. The method of claim 1, wherein the transfer between accounts is executed with a Financial Institution by means of Internet connection.

3. The method of claim 1, wherein the account data displayed and continuously updated, is obtained by means of Internet connection.

4. The method of claim 1 wherein the transfers between accounts are 20 executed with the Financial Institution by means selected from the group consisting of a wide area network, local area network and wireless network.

5. The method of claim 1 wherein the account data displayed and continuously updated is obtained by means selected from the group 25 consisting of a wide area network, local area network and wireless network.

6. The method according to claim 1 wherein the account data comprises bank account information, account balance information, financial institution information, transaction information and transfer execution status.

7. The method according to claim 1 wherein the Global Corporate Treasurer Manager computer program comprises an event manager that monitors for the occurrence of a user defined condition and performs a user defined action in response to the occurrence of the condition.

8. The method of claim 7 wherein the user defined action comprises executing a transfer between accounts.

9. The method of claim 7 wherein the user defined action comprises 10 executing a trade with a foreign exchange trading party.

1 O. The method of claim 7 wherein the user-defined action comprises notifying the user of the occurrence of the user defined condition.

A/ 15 1 1. The method of claim 1 wherein: a. The Global Corporate Treasurer Monitor computer program resides on a client computer.

b. The foreign exchange provider program resides on a server computer.

c. The Financial Institution transaction execution program resides on a 20 server computer d. The Financial Institution account information management program resides on a server computer e. The Enterprise Resource Planning (ERP) program, the provides account payables and receivables data resides on a server computer 12. The method of claim 1 wherein the executing transfers between accounts comprises a. interpreting the request and formatting commands needed to interface with the Financial Institution computer program 30 b. sending the commands to the Financial Institution via a communication means; c. monitoring transfer execution d. displaying and storing transfer execution order status

13. The method of claim 1 wherein the displaying and continuously updating Foreign Exchange trades comprises (a) requesting an Foreign Exchange pricing data from one or more s servers; (b) receiving the Foreign Exchange pricing data item from one or more servers; (c) comparing the Foreign Exchange pricing with previously received pricing for the similar request.

lo (d) archiving the Foreign Exchange pricing if the received data item matches previously archived data, discarding the data item, (e) archiving the Foreign Exchange pricing, if the received data does not match the previously archived data, (f) displaying the last instance of data and flagging the data as new on the 15 graphical user interface display.

(g) displaying updated equivalent(s) using the updated, last instance of Foreign Exchange rate.

14. The method of claim 1 wherein the displaying and continuously 20 updating Financial Institution account balance and statement detail

comprises: (a) requesting a account balance and/or statement detail data from one or

more servers; (b) receiving the account balance and/or statement detail data from one

2s or more servers; (c) comparing the account balance and/or statement detail data with

previously received account balance and/or statement detail data from a

the similar immediately previous request.

(d) archiving the account balance data if the received account balance 30 andlor statement detail data item matches the archived data, discarding

the data item, (e) archiving the account balance and/or statement detail data item, if the

received data does not match the previously archived data, displaying the

À23 last instance of data and flagging the data as new on the graphical user interface display.

15. The method of claim 1 wherein the displaying and continuously 5 updating projected bank account balances comprises: (a) requesting the payables and receivables data from the Enterprise Resource Planning system on one or more servers, (b) receiving the payables and receivables data from the Enterprise Resource Planning system on one or more servers, lo (c) comparing the payables and receivables data with previously received payables and receivables data from a the similar request.

(d) archiving the payables and receivables data if the received data item matches the archived data, discarding the data item; (e) archiving the payables and receivables, if the received data does not 15 match the previously archived data, displaying the last instance of data and flagging the data as new on the graphical user interface display.

16. The method of claim 12 wherein the Global Corporate Treasury Monitor computer program is connected to one or more of the financial institution 20 servers by means of an internet connection.

17. The method of claim 12 wherein the Global Corporate Treasury Monitor computer program is connected to one or more of the servers by means of a connection selected from the group consisting of a wide area network, local 25 area network and wireless network.

18. The method of claim 12 further comprising repeating steps (a) through (d) whep user demands a transfer to be executed between accounts within the same or different financial institutions.

19. The method of claim 12 further comprising repeating steps (a) through (d) due to the occurrence of a user defined event.

20. The method of claim 13 wherein the Global Corporate Treasury Monitor computer program is connected to one or more of the foreign exchange provider servers by means of an internet connection.

5 21. The method of claim 13 wherein the Global Corporate Treasury Monitor computer program is connected to one or more of the servers by means of a connection selected from the group consisting of a wide area network, local area network and wireless network.

l o 22. The method of claim 13 further comprising repeating steps (a) through (g) when user demands foreign exchange pricing for a specific currency pair. 23. The method of claim 13 further comprising repeating steps (a) through 15 (g) automatically and continuously, in predetermined intervals, while the Global Corporate Treasury Monitor computer program is executed on the client machine.

24. The method of claim 14 wherein the Global Corporate Treasury Monitor 20 computer program is, connected to one or more of the financial institutions account management servers, by means of an internet connection.

25. The method of claim 14 wherein the Global Corporate Treasury Monitor computer program, is connected to one or more of the financial institutions 25 account management servers by means of a connection selected from the group consisting of a wide area network, local area network and wireless network. 26. The method of claim, 14 further comprising repeating steps (a) through 30 (e) when user demands account balance and/or statement detail.

a; 27. The method of claim 14 further comprising repeating steps (a) through (e) automatically and continuously, in pre-determined intervals, while the Global Corporate Treasury Monitor computer program is executed on the client machine.

28. The method of claim 15 wherein Global Corporate Treasury Monitor computer program, is connected to one or more of the enterprise resource planning servers by means of an internet connection.

l o 29. The method of claim 15 wherein the Global Corporate Treasury Monitor computer program, is connected to one or more of the enterprise resource planning servers by means of a connection selected from the group consisting of a wide area network, local area network and wireless network.

5 30. The method of claim 15 further comprising repeating steps (a) through (e) when user demands account payables/receivables detail from the enterprise resource planning computer system or other accounts payable and receivables management system.

20 31. The method of claim 15 further comprising repeating steps (a) through (e) automatically and continuously, in pre-determined intervals, while the: Global Corporate Treasury Monitor computer program is executed on the client machine.

25 32. The method of claim 1 further comprising calculating and displaying indicative account balance in other currencies using foreign exchange rates retrieved from the foreign exchange providers.

33. The method of claim 1 further comprising calculating and displaying 30 indicative account balance in other currencies using current account balance retrieved from the account holding financial institutions.

21-, 34. The method of claim 1 further comprising calculating and displaying projected indicative account balance in other currencies using account receivables and payables projections from an enterprise resource planning system. 35. The method of claim 32 further comprising notifying the user of a change in the indicative exchange rate and by extension to the calculated account balances, colouring the display for a predetermined time interval, typically 1 second, in red for a value reduction and in green for value lo increase. 36. The method of claim 33 further comprising notifying the user of a change in the account balance and by extension to the calculated equivalent account balances, colouring the display for a predetermined time interval, 15 typically 1 second, in red for a value reduction and in green for value increase 37. The method of claim 34 further comprising notifying the user of a change in the projected account balance and by extension the calculated 20 projected equivalent account balances, colouring the display for a predetermined time interval typically 1 second, in red for a value reduction and in green for value increase 38. The method of claim 2 wherein executing a transfer between own 25 accounts within the same or different Financial Institutions comprises: (a) requesting an account transfer (b) selecting an account to be debited (c) selecting an account to be credited (d) entering (or accepting default value) the amount to be transferred 30 (e) entering (or accepting default value) a value date (f) receiving the applicable exchange rate and amount to be debited (g) confirming by accepting the exchange rate and amount

39. The method of claim 38 wherein the accounts information, exchange rates, amounts, value date and references and are contained within separate display windows that are capable of being simultaneously displayed and updated on the user's display.

40. The method of claim 38 further comprising selecting the account to debit and the account to credit by means of a 'drag and drop' technique on the graphical user interface.

41. The method of claim 38 further comprising displaying the name ofthe l o provider of the Exchange Rate applicable to the transaction on the graphical user interface.

42. The method of claim I further comprising allowing the user to export archived or continuous stream data for use with a separate computer 15 application program.

43. The method of claim 46 wherein the separate computer application program is selected from the group consisting of financial management application program, tax application program and spreadsheet application 20 program. P 2s r

44. The method of claim 1 wherein the user interface display comprises: (a) allowing the user to view, add, modify and delete Financial Institution records, 5 (b) allowing the user to view, add, modify and delete Foreign Exchange provider records, (c) allowing the user to view, add, modify and delete Enterprise resource Planning records, (d) allowing the user to view, add, modify and delete Watches and lo Events records, (e) allowing the user to view, add, modify and delete operating parameter records, (I) allowing the user to view, add, modify and delete security and access profiles records, 15 (g) allowing the user to view, add, modify and delete system set-up records, (h) allowing the user to specify monitoring for the occurrence of a condition (watch) and allowing the user to specify an action (event) to be taken by the trading securities program if the condition occurs, 20 (i) allowing the user to select data to export to a separate computer application program.

45. Computer executable software code, stored on a computer readable medium, the code for a computer implemented method for retrieving 25 account details, foreign exchange pricing, and accounts receivable/payable information over a connection, comprising code for allowing a user, using a computer with a display having a graphical user interface with multiple windows, to view current and projected account balances in multiple currencies, and to execute transfers between accounts while simultaneously 30 combining, displaying and continuously updating account information on the same display.

Dc] 46. A computer-readable medium, having computer-executable software code stored thereon, the code for a computer implemented method for calculating projected account details and equivalent in multiple currencies, 5 comprising code for allowing a user using a computer with a display having a graphical user interface with multiple windows, to execute transfers between own bank accounts over a computer-to-computer connection while displaying and continuously updating bank account details and foreign exchange pricing on the same display, wherein the account details lo information comprises financial institution, balance, account number, account description and transaction detail, the foreign exchange pricing

information displayed comprises continuously extracting and updating the applicable foreign exchange rate for the specified currency pair and contract date. 47. Computer executable software code, stored on a computer readable medium, the code for a computer implemented method for retrieving account details, foreign exchange pricing, and accounts receivable/payable information over a connection, comparing these with specific pre-set 20 conditions and arriving at recommendations, comprising code for allowing a user, using a computer with a display having a graphical user interface with multiple windows, to view recommendations on transfers between accounts and/or enter into forward foreign exchange contracts.

25 48. A computer-readable medium, having computer-executable software code stored thereon, the code for a computer implemented method for retrieving account details, foreign exchange pricing, accounts receivable/payable information over a connection, comparing these with specific pre-set conditions and arriving at recommendations, comprising 30 code for allowing a user, using a computer with a display having a graphical user interface with multiple windows, to view recommendations on transfers between accounts and/or enter into forward foreign exchange contracts.

53. A computer-readable medium having computer-executable software code stored thereon, the code for a computer implemented method for retrieving, combining, displaying and executing transfers over a computer 5 tocomputer connection comprising: (a) code for consolidating bank account information into a graphical user interface display with multiple windows, the bank account information comprising financial institution name, account name, account currency, lo account description, account balance, debit transactions, credit

transactions, and transaction description;

(b) code for calculating total balance in a specified currency, by adding all balances from all accounts held in that currency.

(c) code for calculating projected account balance and displaying into a graphical user interface display with multiple windows, combining information retrieved from the enterprise resource planning system, 20 (d) code for calculating projected account balances in multiple currencies and displaying into a graphical user interface display with multiple windows, combining exchange rate pricing retrieved from foreign exchange providers 2s (e) code for comparing present and projected account balances (values) to pre-specified conditions and displaying into a graphical user interface display with multiple windows, recommendations or action undertaken.

3j (f) wherein the execution of a transfer between own accounts within one or different financial institutions by the user comprises code for: (i) entering the request for a transfer by selecting an account to 5 debit and an account to credit, the amount to be transferred and the value date, (ii)establishing and maintaining communication with the financial institution server, (iii)translating the transfer request into commands necessary to lo execute the request within the financial institution environment, (iv)sending the commands to the financial institution server, (v) continuously monitoring, displaying and updating the status of the transfer request 15 54. A computer readable medium according to claim 53 wherein the display and update of status of the transfer request comprises: (a) code for requesting a transfer status data item from one or more servers; (b) code for receiving the transfer status data item from one or more 20 servers; (c) code for displaying the data item on the graphical user interface -

display (d) code for appending the transfer status detail to the archived transfer request information.

2s

55. A computer system for monitoring Global Corporate Treasury cash flows comprising: (a) at least one client computer-based machine; 5 (b) an account management component running on at least one of the client computer-based machines for allowing a user using a graphical user interface display with multiple windows to display account status, recommendations and execute transfers by sending the requests via a communication means to a financial institution account management l o component running on at least at least one server computer-based machine, (c) wherein the account management component displays and continuously updates account collocated on the display by sending requests and receiving data via the communication means from at least 15 one server computer-based machine.

56. The computer system of claim 55 wherein the communication means comprises an Internet connection.

20 57. The computer system of claim 55 wherein the communication means is selected from the group consisting of a wide area network, local area network and wireless network.