Wausau Financial Systems Inc. said Monday that it will improve its package of treasury applications with the purchase of a cash management and deductions management software program.
The Mosinee, Wis., vendor said it bought the technology, for an amount it did not disclose, from Revere Group, a Chicago consulting company that developed the software for Old World Industries Inc., a chemical and consumer products company.
Wausau plans to offer the Cash360 program with its other receivables and treasury management tools and as a stand-alone product, President Gary Cawthorne said in an interview Friday. It helps suppliers to better determine whether buyers' price deductions are appropriate.
"It's a business rules engine that facilitates that straight-through processing so the staff is really dealing with exceptions that require" intervention, Cawthorne said.
