Orbit TMS

Orbit TMS is presented as an easy to learn, use and customize treasury management system, designed to empower more focus on value add activities. It provides detailed audit trails, dual security controls, built-in reporting and simplified bank administration, and is designed to strengthen internal controls and comply with dynamic regulatory requirements. The solution provides real-time visibility into global cash, and provides capital optimization.

Beyond this the solution provides:

Cash Management

Daily cash positioning, accounting and forecasting, as well as capturing bank data with Orbit’s machine-to machine bank polling, via SWIFT or its “drag and drop” functionality. It offers real-time visibility into global liquidity position, and ‘smart codes’ that automatically reconcile bank transactions, create GL entries & update forecasts.

Payments

Designed to eliminate multiple dissimilar funds transfer procedures and implement a single process with enhanced security and operational benefits.

• A robust solution for enterprise payment production and execution, also available for Treasury-initiated payments only
• Interfaces to banking networks, including SWIFT, to transmit payments securely and automatically according to a preferred schedule
• Payment orders automatically generated in a preferred format (SWIFT, BAFF, ACH, etc.) and posted to the Orbit payments queue

Integration with an ERP or other systems to ensure a seamless flow from initiation to execution and accounting

Third Party Payments

• All types of payments are supported
• Payments can be initiated by template, free-form and via import from ERP
• Payments Plus integrates with existing ERP systems, automatically importing and routing A/P payment requests for the approvals required

Foreign Exchange

the goal of the module is simplicity, control and automation.

• From exposure capture to trade confirmation and warehousing, Orbit aims to provide the confidence that FX position is clearly visible and effectively managed.
• Full integration with the Cash module ensures the cash and accounting impact of all FX trades are automatically captured and reflected in the cash ledger, forecast and journal entries.
• Capture exposures from anywhere on the globe with both an Internet connection via cloud technology, or via Orbit HF, a lite version of the FX module deployed at field unit sites

In-House Banking, Netting & Intercompany Solution:

Organizations seeking centralization, visibility, control, cash optimization and automation of their multi-entity cross boarder business entities often look at the benefits of In-house banking and the related netting and intercompany solutions. The Orbit solution places an emphasis on improved visibility, enhanced reporting and strengthened internal controls and compliance.

In-house banking structures:

Orbit’s solution enables users to define multi-currency in- house banking structure that best meet the organizations needs. Examples include:

• Single in-house structure
• Multiple in-house structure

Orbit allows the user to view various activity granularly and at an organization-wide level. Real-time cash positions, debt, collections, receivables, etc. are easily accessed and reported upon. Additionally bank balances can be viewed by entity, net borrower or investor and can incorporate any entity specific credit limits. Typical In-house flows include:

• Financial inter-company transactions;
• Commercial inter-company payables and receivables;
• Third-party payments and receipts

Transaction and payment data can be manually entered using specific input screens or downloaded from non-Orbit systems. Orbit modules are integrated with the In-house module so these transactions automatically flow through the system seamlessly, including generation of GL accounting entries and reconciliations.

Settlement:

Orbit’s In-house banking module will track all appropriate flows, create GL and accounting entries and create unique In-house banking statements for all participants. Once the statements are agreed, on settlement date, Orbit can automatically settle the structure (netting transactions if desired). Tax and legal opinion should be gained prior to implementing such structures or automatic settlement as such activity may be prohibited in particular regions or have unwanted tax consequences.

In-house banking structures frequently make use of internal interest application techniques such as: Paying net investor entities interest and charging interest on entity net borrows, additionally some structure may even invoke OD interest and fees.

Bank Account Administration

As with everything in Orbit, the goal is simplicity, control and automation of straight-thru-processing.

Bank Account Administration has never been easier than with Orbit’s bank administration tools:

• Signing authorities, limits and restrictions are assigned, updated and warehoused in one easy-to-use application.
• Automatic audit trails ensure that a detailed history of activity within Orbit is tracked and documented.
• Built-in dual controls fully incorporate board approved corporate bank policies.
• All your bank related documents, reports, contact information and account histories are easy to access, edit and review.
• Enhanced FBAR reporting

With Orbit managing and tracking your data, you spend less time collecting, inputting and formatting reports and more time analyzing data for faster, better decision making. The service is ideal for all clients, but especially those in the acquisition or divesting mode as Orbit will enhance all activity related to re-documenting such accounts.

Debt & Investments

The tracking of the company’s Investment and Debt positions is a critical component of any Treasury department. Debt obligations must be track to ensure payment terms can be properly scheduled, prepared for and funded. Additionally, the debt profile must be analyzed to ensure the structure best meets the company’s long term needs. Similarity, Investments need to be track to support the company’s cash position as well as to determine the best possible returns vs risk. Last, companies are taking a hard look at percent of balances held at their partner banks to ensure that they are comfortable with the related bank exposure and concentration. The Orbit solution offers tools to accomplish this.

• Supports the multi-currency tracking and management of debt, foreign exchange, interest rate, and investment transactions by providing visibility into the investing, borrowing, trading, hedging, and intercompany activities
• Integrates with all Orbit modules to ensure up to the minute accuracy of a current cash position as well as a forecast. Automates GL tagging and Account reconciliation.
• Debt: supports the tracking and management of short-term and long- term borrowings, including discount, interest-bearing, fixed and amortizing.
• Interest Rate Derivatives: supports the tracking and management of credit facilities, cross currency swaps, caps, collars and floors.
• Investments: supports the tracking and management of Investment transactions including; money market fund, CD’s, discount, interest-bearing, fixed and amortizing contracts. Analyze portfolio by instrument and counterparty.
• FX: Integrates with Orbits FX module to support the tracking, accounting and management of Foreign Exchange transactions, including spot, forward, non-deliverable forward, and swap.
• Mark to Market: calculate or store the market valuation.
• Deal Confirmation: Confirmation letters, and settlement and payment instructions can be created, saved and automatically be generated for banks.