SMARTXchange For Windows (Cambio)

SMARTXchange application was developed to ensure effective management of the day to day operation of money exchange institutions. The application provides for the management of inventory maintained by traders, treasuries and bank accounts. Numerous functions of the application include the following:

Management of inventory items

The SMARTXchange product allows for the separation of currencies and instruments and the combining of both when creating an inventory item. The advantage is that the user can create separate inventory items under any single currency with separate trading properties, i.e. price, discounts, maximum or minimum trading values, or which trader may negotiate said inventory item. The application maintains both the last and average cost of each inventory item which is utilized in the sale process to determine the value of each sale transaction’s cost of sale. The user may also define the transaction for which the inventory item is to be utilized.

Management of inventory traders

Traders have been separated from other system users. This means the ability is there to capture all relevant demographic information on the trader. The system allows for the management of both inventory treasuries and inventory bank accounts assigned to traders.

Management of customer information

     - Increased data capture of customer demographic.

     - Normalization of the capture of customer addresses information.

     - Increased maintenance and reporting on customer history.

Trade Transaction management

The trade transaction screen accommodates multiple currencies and cross currency transaction trades which allows for predefined price discrimination functionalities. Traders are constrained within this screen by the rights and privileges setup on their trade’s profile. Other built in functionalities include:

     - Customer Search by: Surname, First Name, Identification Number.

     - Preview transaction detail prior to settling the transaction.

     - Capture source of funds data; triggered automatically or manually.

     - Capture nature of transaction; suspicious or not at the trader level.

     - Accounts for transaction charges when performing a sale transaction.

     - Provides an inventory rate calculator for ease of computation of customer queries.

     - Captures agent information assuming customer is acting on the behalf of a beneficiary.

     - Provides a transactions confirmation screen shot prior to the saving of each transaction.

The trader is required to capture within this data entry point, all information that is to be utilized in the production of both internal management and external regulatory reports.

Setting on Inventory Bands

The ability for the user to create price bands within inventory types enabling normalized transaction discounting. This function is driven by a table to allow for the setup of high and low inventory bands and relative absolute price differentials.

Accounting Interface

The system provides accounting management with the production of General Ledger Journals and interface to accounting applications with the provision of the requisite specifications.

Standard Reports of the SMARTXchange For Windows Application:

SMARTXchange provides various reports that have similar key features. These include the options to generate the report to include not voided only, voided only or both; show information that includes or is exclusively within the reported date; show the information whether or not it affects the trader’s float, the bank account or both. These include: