Reale Mutua: a single platform for payment management

There are more than 200 workstations of Reale Mutua Assicurazioni, the most important Italian insurance company established as a mutual, on which the Piteco Treasury solution is operational.

A payment management hub

As part of a change management project and migration of administrative systems to SAP, Reale Mutua chose to concentrate cash management in the Piteco treasury system, together with the management of company payments previously handled through a customised management system.

The use of Piteco dedicated digital payments management functionality integrated with the cash management functionality has enabled Reale Mutua to concentrate the management of all payments, whether they relate to insurance claims and/or non-core business invoices, in a single hub.

Focus: security and policy compliance

The decision to computerise and automate payment processes required the Company to implement an authorisation workflow management system that would guarantee the security of payment procedures, compliance with company policy requirements in terms of data confidentiality, while maintaining the pre-existing segregation of responsibilities and authorisation powers of the various company departments involved (in the feeding, validation and authorisation phases of payment requests and orders).

The concentration of payment management in a single platform allowed Reale Mutua Assicurazione to entrust the Treasury with the responsibility and full financial management of the payment.

The benefit

Integration with management systems, the implementation of the authorisation workflow and the succeeding, secure and automated, dispatch of instructions to the banking system have enabled Reale Mutua to achieve significant benefits in terms of increased efficiency, both managerial and financial, in the process of preparing, authorising and transmitting instructions.

  • Total dematerialisation of the device process;
  • Centralisation of all disposition authorisation procedures in a single platform;
  • Process automation, aimed at reducing operational risk, time and costs (e.g. elimination of ‘paper passes’, ‘walkers’, faxing);
  • Control of authorisation procedures;
  • Increasing the efficiency of the authorisation process;
  • Traceability and archiving of authorised flows and consultation of activity history.

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