Nomentia Cash Management August Product Updates

Increased automation, customizability and visibility for boosted accuracy, flexibility, and productivity 

New features and improvements! Nomentia Cash Management 2024.06 release introduces significant upgrades across various modules; customizable fields for more precise data capture, expanded bank connections for greater integration, and advanced features for automated reconciliation. With enhanced security and numerous usability upgrades, this release ensures improved accuracy, flexibility, and efficiency in managing your financial operations. Let’s explore: 

Greater flexibility and control over master data

Custom fields for Users and Companies: The Master Data functionalities for Users and Companies now support the addition of up to 10 custom fields. These fields allow you to capture and store additional data tailored to your specific organizational needs, beyond what is provided by the pre-defined fields. Businesses can now customize data entry forms to fit their unique requirements, ensuring that the system adapts to a wide range of scenarios. 

Once custom fields are created, they are available for all not only for bank accounts but also users and companies. The requirement for Inspector approval when adding values to custom fields ensures that data entry complies with organizational standards and policies, adding a layer of oversight and maintaining data integrity. 

With the ability to add custom fields, businesses can track additional attributes or special compliance data, generate more detailed reports, and perform more granular analyses.  

Key benefits:

Enhanced data capture: Add up to ten custom fields to capture additional, specific data beyond pre-defined fields. 

Improved reporting: Generate more detailed reports and perform granular analyses. 

Compliance & oversight: Inspector approval for custom fields ensures adherence to organizational standards. 

Adaptability: Customize data entry forms to meet diverse business needs. 

Liquidity: Enhanced dimensions and reporting

Custom Dimensions integration: Custom dimensions defined in the Liquidity dimensions functionality are now available as grid columns in the Transactions tab. This integration allows for more detailed reporting and data analysis, with the ability to filter and export these custom dimension values. 

Key benefits:

Detailed analysis: Use custom dimensions in Transactions for better reporting and filtering. 

Streamlined exports: Custom dimensions are now included in exports, which enhances data versatility. 

Shared Reporting and Templates: Share report folders and transaction entry templates with Liquidity user groups, making it easier to manage and distribute information across teams. This feature improves collaboration and ensures that all relevant users have access to necessary resources. 

Key benefits:

Improved collaboration: Share reports and templates with user group and simplify access and management. 

Matching: Enhanced transaction reconciliation automation

Remittance Advice functionality: The new Remittance Advice functionality enriches data by automating the recognition of invoice numbers and amounts from remittance advice documents by utilizing Azure AI Document Intelligence service.  

This new feature allows for automatic linking and matching of bank transactions with open invoices. Businesses can choose between automated and manual matching based on their specific needs and preferences, supporting different workflow requirements and reconciliation practices. 

Key benefits:

Increased accuracy: Automate recognition of invoice numbers and amounts to reduce manual errors. 

Efficient reconciliation: Automatically link bank transactions with open invoices, save time and reduce overhead.

Flexible matching: Choose between automated or manual reconciliation based on needs. 

Payments: increased efficiency and accuracy

Enhanced manual payment entry: New features guide users through required values and dimensions during manual payment entry. The addition of the Posting proposal status column provides clear visibility into the payment status.

Key benefits:

Error reduction: New guidance features ensure accurate entry of required values and dimensions. 

Clear status tracking: View payment status directly in the Posting proposal status column. 

Updated notifications and validations: Notification emails now include direct links to the relevant tabs and support mobile approval in user-selected languages. New standard validations for creditor IBAN length and SEPA message length ensure compliance and accuracy in your payment processes. 

Key benefits:

Enhanced notifications: Direct links in emails and mobile approval in user-selected languages improve user experience. 

Compliance assurance: New validations for IBAN length and SEPA message length ensure accuracy and adherence to standards. 

Integration flows: Secure and efficient data management

IP address whitelisting for SFTP: It is now possible to whitelist IP addresses for internal SFTP clients. By restricting access to the SFTP server to only specified IP addresses, you reduce the risk of unauthorized access, creating a more secure environment for data management. 

With IP address whitelisting, only authorized systems can interact with the SFTP server, helping prevent data breaches and ensuring data integrity. This feature allows for centralized control over access permissions, making it easier to manage and audit who can connect to the server. You can easily add or remove IP addresses as needed without any configuration or changes to existing implementations. 

Key benefits:

Centralized control: Easily manage and audit IP addresses for SFTP access. 

Improved monitoring: Track and monitor access to ensure compliance and security.

PGP keyring creation: Interface’s PGP Management now supports the creation of PGP keyrings, which, once created, can be exported, and used by an external system to either encrypt a file imported to Nomentia, or to verify the signature of a file signed with the key ring. External public keys can be attached to existing keyrings. 

Decrypt & encrypt activities now available: Files can be encrypted and decrypted with customer managed keys. 

Key benefits:

Streamlined PGP Management: Centralized key management and key usage control. 

Interoperability with external systems: Exporting public keys from a keyring for external use allows seamless integration with other systems.

Encryption and signature verification flexibility: By allowing a single external public key for encryption and multiple keys for signature verification, the system ensures that different use cases and integration requirements are met effectively. 

Treasury Module: Streamlined financial management 

Enhanced treasury functions: The new Treasury module now includes improvements across deal management, deal flows, and deal posting. With new settings for defining custom dimensions and rules, and automated import activities, managing financial deals and integrating with your general ledger has become more efficient. 

Expanding bank connectivity with increased bank connections 

Expanded EBICS Bank Connections: With 27 new EBICS bank connections, integrating with various banks has never been easier, facilitating smoother transactions and bank communications. Check out our website for a full list or request more bank connections. 

Key benefits:

Broader integration: Seamlessly connect with 27 new banks for increased, direct connectivity. 

Updated workspace tabs for better visibility in Accounts

The updated Workspace tab now includes enhanced visibility into rule execution and transaction postings. You can now see who manually ran a rule or posted a transaction and increase transparency and accountability.

Key benefits:

Increased transparency: View who manually executed rules or posted transactions. 

Nomentia Cash Management 2024.06: improved financial operations

The Nomentia Cash Management 2024.06 release brings new functionalities for enhanced security, expands connectivity, and streamlined cash management. We are committed to continuously improving our platform to meet evolving customer needs.  

For more information about this release, new features or to request a demo, get in touch here.