VirtualTreasury is a fast, native-style full Treasury Management web application that either is connected to a local database on site or, as a service option, runs in a Maravon-hosted cloud. VirtualTreasury works with any modern web browser without plugins. Users just log-in under https://virtualtreasury.maravon.com and start working.
With VirtualTreasury Corporate Treasurers make their capital and risk management truly go global - having all consolidated and unconsolidated group-financials at their fingertips and being able to simulate effects on their financing, investing and hedging decisions for all group entities at once - both, on a legal entity and a commercial organisation structure.
By using VirtualTreasury Corporate Treasurers do not only manage liquidity, monitor their positions in a blotter or analyse their risks with heat maps and tornado charts. They can also see and simulate how their decisions impact their balance sheet, their net income and their cash flow statement. All statements are dynamically customisable towards own company standards and follow true accounting rules in high-performance simulations.
VirtualTreasury is intuitive to use and real fun to work with as a finance professional. Built on the Maravon Analytics Library-Foundation, VirtualTreasury provides full mark-to-market and mark-to-IAS/IFRS analytics, state-of-the-art risk management tools and a comprehensive coverage of equity, rates and foreign exchange market instruments.
VirtualTreasury performs flawlessly in all modern web browsers, such as
- Internet Explorer 7 or later
- Firefox 3 or later
- Safari 3 or later
- Chrome
VirtualTreasury outperforms most Treasury desktop applications in terms of richness, functionality and user experience. VirtualTreasury is designed for high-latency and minimise this effect on the user experience.
Companies don't need to buy VirtualTreasury software licenses. They rent them. In conjunction with a VirtualTreasury-activation we provide a local customisation and appropriate training sessions.
Please contact our Technology practice under +49 69 505 092 465 or technology@maravon.com to fix an appointment for a live-demonstration. Upon request we also arrange demonstration meetings with our reference clients.
LIQUIDITY MANAGEMENT
On operating and capex level, liquidity can be planned through a currency-specific cash flow forecast reporting, including intra-group transactions. All additional cash flows from financial instruments will be automatically generated and assigned to operating, investing and financing cash flows. The liquidity status reveals the available cash according to various liquidity levels with and without the amount of credit and FX margin lines. Liquidity projections are analysed and monitored through liquidity-gap and ratio analyses.
CREDIT LINE & COLLATERAL MANAGEMENT
With VirtualTreasury users can administrate their credit lines. This includes utilisation, cost, and concentration analyses. Users can furthermore manage pledged collaterals with VirtualTreasury. Pledges can be linked to their financing structures are therefore easy to identify in case of term-renegotiations.
SURPLUS INVESTING
VirtualTreasury analyses how much capital can be invested, calculates which return can be expected from investments and determines when capital is needed again for operating purposes.
CORPORATE FINANCE
VirtualTreasury provides numerous functions for capital management. They include the optimisation of capital structure (debt/equity), debt structures (fix/float mixes, currency mixes, tenors, sub-ordination, etc.) and dividend policies. Moreover, users can manage all their external and intra-group funding positions, calculate their cost of capital and simulate effects of 'as-if re-capitalisation', 'as-if acquisitions' and 'as-if restructuring'. VirtualTreasury provides a debt scheduler, reminding Treasurers to repay debt and pay interest precisely, considering international banking-holiday calendars.
ASSET MANAGEMENT
VirtualTreasury possesses a comprehensive financial instrument coverage that allows users to manage their investment positions, including pension funds, professionally. Next to position keeping VirtualTreasury can be used for re-investing scheduling, performance attribution and risk analysis as well as comprehensive reporting.
POSITION MANAGEMENT
Position management incorporates financial instrument and balance sheet views, roll-ups, and drill-downs, sensitivity analytics and risk. Positions are marked-to-market and marked-to-IAS/IFRS over their entire lifecycle, memorising amortisation, impairment and other write-down effects.
FINANCIAL RISK MANAGEMENT
Utilising leading-edge modelling, analytical, and simulation methods, VirtualTreasury identifies, quantifies, and monitors risk factors affecting balance sheet, net income, cash flow and financial instrument valuation.
A high-performance Monte Carlo simulation and stress-tests compute distributions toward net asset values (risk capital), earnings, cash flows and financial instrument valuations - both, on mark-to-market and a mark-to-IAS/IFRS basis. Heat maps spanning risk factors, and risk ownerships show where the corresponding risk impact is concentrated.
Automatic comparisons such as Net Asset Value-at-Risk (NAVaR) vs. risk capital, cash flow-at-risk (CfaR) vs. available liquidity and Value-at-Risk (VaR) vs. position values analyse risk capacity. And severity alerts are given through the Time-to-Insolvency (T2I)-risk metric, developed by Maravon.
Simulations with so-called 'as-if hedges' result in visually appealing overlay distribution charts and demonstrate the balance sheet, net income, cash flow or simple position valuation effects in comparison with the status quo. These simulations can be executed with or without the use of IAS 39 hedge accounting.
BEST HEDGE IDENTIFIER
With the 'best hedge identifier' Treasurers are able to identify those hedges that possess the lowest cost for one unit of risk reduction, or - as we say - highest hedge performance, while maintaining sufficient hedge effectiveness. This tool computes the open and hidden cost of hedging products, offered by banks and brokers, and puts the total cost in relation to the quantified risk reduction with a view to ranking the various hedging alternatives according to their hedge performance. This is unique in the market.
HEDGING RELATION MANAGER
VirtualTreasury's IAS 39 hedging relation manager assigns hedging instruments to hedged items for fair value (balance sheet) hedges, cash flow (transactional) hedges and net investment hedges, and tags each hedging relation with a unique identifier.
IAS 39 HEDGE EFFECTIVENESS ANALYSER
Based on a report schedule VirtualTreasury produces both, prospective (VaR and volatility) and retrospective (dollar-offset) hedge effectiveness tests for each hedging relation. In addition prospective tests are additionally executed at inception of a hedging relation, whereas an additional retrospective test is carried out at maturity of a hedging relation.
IFRS 7 SENSITIVITY & VAR REPORTING
VirtualTreasury summarises all necessary computations for fulfilling IFRS 7 disclosures on market risk. These include mark-to-market, risk factor-sensitivities and value-at-risk (VaR) for all existing financial instruments.
MANAGEMENT REPORTING
VirtualTreasury provides features for standard as well as customised reports. Every input data and every calculated result can be used for reporting purposes. Administrators can develop templates for standard reports that then can be used by each user for all business units he or she has the rights of access to. However, also each single user can define his or her own reports, using VirtualTreasury's report generators. To prevent from reinventing the wheel again and again, individually created reports can be saved under an individually chosen name.
DATA EXPORTS & CONNECTIVITY
VirtualTreasury includes an Export-to-Excel functionality by which every report can be exported to Microsoft Excel. Further interfaces between VirtualTreasury and other leading ERP, accounting, cash management and banking systems are being developed.
TOP-DOWN USER RIGHTS MANAGEMENT
User rights are managed top-down in a pyramidal structure. Users have access rights to data according to the same and lower levels, following the organisational structure that was set up by the administrator. VirtualTreasury also allows providing multi-access user rights for persons who are supposed to control more than one business units at the same time.
Although many companies already exchange highly sensitive data over the internet to a large extent, security still seems to remain the biggest hurdle for companies to decide in favour of a web business application solution. We provide several security features to achieve the highest possible level of risk protection.
In particular, we are taking the following steps to assure highest possible data security:
DATA TRANSFER ENCRYPTION
VirtualTreasury uses true 128-bit Extended Validation SSL that possesses the VeriSign Secured Seal. This solution enables every VirtualTreasury user to experience the strongest SSL encryption available.
SERVER FAILURE PROTECTION & BUSINESS CONTINUITY
VirtualTreasury makes use of backup-servers. Should one server suddenly fail to operate for any reason, another server immediately starts running like an emergency power generator and makes sure that every VirtualTreasury user can access his or her data.
DATA LOSS AND DATA THEFT PROTECTION FOR THE CLOUD-SERVICE OPTION
VirtualTreasury data is saved and mirrored on different databases that are located in different "data centres". These "data centres" are locked and security-supervised at the same time. Furthermore, VirtualTreasury uses the latest Firewall and Anti-Virus technology providing state-of-the-art network protection.
WEB BUSINESS APPLICATION ADVANTAGES
- No group-wide, time-consuming installation required. VirtualTreasury-accounts only need to be activated for your company. Customisation is easy and fast to handle.
- No more release changes as upgrades are made automatically. Additional release license and maintenance cost fall away. And so is the tedious roll-out of release upgrades.
- No more interfaces to retrieve group data from a number of different Treasury infrastructures. The users access one and the same software through their browsers. Investments in Treasury or financial management systems for each division or entity fall away.
- No more time-consuming data reconciliations. Since every user works with the same methods and market data, all aggregations are coherent on any aggregation level across the entire group.
TECHNOLOGY AND USER INTERFACE ADVANTAGES
VirtualTreasury has been developed and is maintained by a team of software engineers and former corporate Treasurers and investment bankers. This unique combination enables clients to experience state-of-the art Treasury technology with the highest level of practical user comfort.
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