Alexandre Sortais, « Head of Professional Services » at Diapason et Laurent Sarrat, CEO et CEO and co-founder of Sis ID took part in this interview. Together, they share their experience and discuss the challenges treasurers face in securing their processes.

What are the issues for treasurers in managing payments?

Alexandre: The scope of action for treasurers in this area is well-defined: it involves processing supplier payments, salaries and specialized or “high value” payments, in the event of a major acquisition for example. Treasurers are used to managing sensitive campaigns, such as the issuance of payroll transfer orders. The slightest delay in one of these flows can have very serious consequences, operationally, financially and even in terms of labor relations. However, treasurers are faced with a situation where payment campaigns must be processed more and more quickly, with shorter cycles. This pressure creates increased operational risk and requires them to at least review their operating procedures. In addition, the upheaval of organizational methods imposed by health hazards has disrupted the daily life of this function.

Laurent: One of our customers’ major problems is securing their bank details at the time of payment. Within a company, the treasurer is a focal point: payment transactions, the various tools used such as ERP or cash management tools, all these channels are concentrated around him. He will also validate the veracity of the transactions he performs on behalf of his company. Our solution will assist him in his verification of bank details.

What are their issues?

Alexandre : In such a context, the risk of fraud and cybercrime is significantly increased. Thus, the current period characterized by a greater use of teleworking is particularly conducive to attempts to commit fraud by means of false international bank transfer or “president scams”. The ingenuity of criminals is limitless and their techniques are becoming more professional. Vigilance of all the actors of the payment chain is necessary and the use of specialized solutions to counter these practices becomes an imperative.

Laurent : Treasurers will have several major issues:

– A real time issue: in cash management tools, some payments are made at the end of the day or undergo cut-offs before being transmitted to the bank.
– A performance issue: the process followed by treasurers must not suffer a slowdown because of a new tool.
– A consistency issue: between suppliers and companies, the treasurer has many contacts upstream of the Purchase-to-Pay chain, which makes it difficult to verify data.
– A human issue: today, treasurers are responsible for the last check before payment. They are the last line of defense before fraud occurs. Since an error can have serious consequences, both financially and in terms of human lives, this responsibility falls on them.

How can your offerings meet these challenges?

Alexandre : The security chain relies on several links and the strength of this chain depends on its weakest link. First of all, our Diapason solution allows to set up banking powers directly linked to signature processes. Thus, the rights and responsibilities are materialized in the same system as the one that drives the validations, according to the nature of the flows and the amounts of the remittances. In addition, identification systems have evolved considerably in recent years and standards are emerging. Through our offer, setting up a multi-factor authentication system for sensitive flows is easy to implement and administer. In addition, an alert module for atypical behavior and payments that are potentially outside the secure framework completes the system. Finally, direct connectivity via API (programming interfaces) with our partner Sis ID allows treasurers to dynamically control the identity of third parties and their bank details.

Laurent : We answer an issue that is close to our heart since the beginning of Sis ID adventures: the integration of our solution to our customers’ ecosystem. With Diapason, the objective is to simplify their life by offering them tools integrated to their environment without loss of performance. We do not add any additional tools for which they would have to train their users.

Why this collaboration between Sis ID and Diapason?

Alexandre : The integration of Diapason and Sis ID offers perfectly complementary controls. For example, payments made outside normal business hours, or a first payment made on a new beneficiary account will be identified in the Diapason monitoring dashboard as “to be verified”. The statuses resulting from the analysis performed by Sis ID are also presented to the operator, directly in the same dashboard, the operator thus having a 360° vision of all the characteristics of the payment and the third party beneficiary.
By combining the two solutions, treasurers can safely focus on their core business. They benefit from automated and specialized controls within their integrated daily work environment.

Laurent : Diapason is a leading player in the world of treasury management systems. We met their teams during the AFTE Days a few years ago. Our collaboration was driven by our common clients and our common history. We have set up together this integration project to simplify the daily life of our customers.