This article discusses the various issues involved in managing payments, cash and treasury operations in various locations and tries to explore how successful implementation of technology brings change in the cash management.

The word `Centralization' means a decision-making process by which activities of an organization become more concentrated and effective within a particular location and/or a group. For many years, the role of treasury has been evolving from a cash management function, with a pure cost-based center approach, to a level of sophistication wherein treasurers are genuinely sharing their business value and have been adding more value to the business. Therefore, it makes a lot of sense. With the centralizing payment systems processes, one can have a better understanding of cash flow, as a result, can save on the number of bank interfaces that one has to build on. On the top of it, it is also possible for the central treasury to hire more number of people and can give better service to the groups. For each and every cash and treasury operations MNCs need to create a centralized department in order to develop and support the system with the different time zone.

A centralized cash management system can pool the cash flow easily and can offset the balances with centralized bank account management and through fewer interfaces. Earlier, technology running with centralized treasury operating systems was not developed due to lack of proper communication system and support for the treasury operations. Later on, communication systems and treasury software programs were developed and it became easier for the firms to run treasury operations centrally.

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