Information and Communication Technologies in cash management: explanatory model
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Published
18-09-2018
Leire San José Ruíz de Aguirre
Txomin Iturralde Jainaga
Amaia Maseda García
Abstract
In this research it has been analysed the use of ICT (Information and Communication Technologies) in the responsibilities of cash management and the references of this survey are the corporations of Basque Country. The results indicate that the ICT more utilized by firms to financial practices are financial software, Internet and electronic banking. Furthermore, this results have permitted us to develop an explanatory model of the use of ICT for the treasurer's functions; management of receivables and payments, liquidity monitoring, shortterm treasury forecasts, management of bank balances in value data, management of relations with financial institutions, management of short-term needs, management of treasury surpluses and management of interest and exchange rate risks.
How to Cite
San José Ruíz de Aguirre, L., Iturralde Jainaga, T., & Maseda García, A. (2018). Information and Communication Technologies in cash management: explanatory model. Cuadernos De Gestión, 6(2), 83–101. https://doi.org/10.5295/cdg.19169ls
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Keywords
Cash management, ICT, Factorial analysis, Explanatory model
References
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BARAJAS, A. y VILLANUEVA, M. (2001): «Escenario de la banca en Internet», Banca y Finanzas, No. 66, pp. 29-32.
BERNAL, E. (2001): «Sistemas de pago con monedero electrónico: situación en la Unión Europea», Actualidad Financiera, Vol. 6, No. 1, enero, pp. 25-44.
BIRTS, A. y COUSINS, P.D. (1994): «Purchasing partnerships, technology and the treasury function», Logistics Information Management, Vol. 7, No. 2, pp. 18-24.
BIS (2001): Electronic finance: a new perspective and challenges, Bank of International Settlements, obtenido en www.bis.com, November, pp. 1-122.
BONSÓN, E., COFFIN, Z. y WATSON, L. (2000): «Un lenguaje para el reporting digital», Partida Doble, No. 17, diciembre, pp. 16-22.
BROWNE, M.W. y CUDECK, R. (1993): «Alternative ways of assessing model fit» en BOLLEN, K.A. y LONG, J.S. (Eds.), Testing structural equation models, Newbury Park, Sage, pp. 136-162.
BRUQUE, J.S. (2002): La paradoja de la productividad de las tecnologías de la información. El caso de la distribución farmacéutica. Servicio de publicaciones de la Universidad de Jaén-Jafarco, Jaén.
BRYNJOLFSSON, E. y HITT, L. (2000): «Beyond computation: information technology, organizational transformation and business performance», Journal of Economic Perspective, Vol. 14, No. 4, fall, pp. 23-48.
CAMERON, K. y QUINN, R. (1999): Diagnosing and changing organizational culture, AddisonWesley Series, New York.
CASANOVAS, M. y FERNÁNDEZ, A. (2001): E-tesorería, Gestión 2000, Barcelona.
CLAESSENS, S., GLAESSNER, T. y KLINGEBIEL, D. (2000): Electronic finance: reshaping the financial landscape around the world, Working Paper, No. 4, obtenido en www.ssrn.com, September, pp. 1-26.
COPELAND, K.W. y HAWANG, C.J. (1997): «Electronic data interchange: concepts and effects», Inet’97 proceedings the Internet, 24-27 de junio, Kuala Lumpur (Malaysia).
EBY, G. (2003): «Cash management IT: managing the technology evolution», HSBC’s Guide to cash and treasury management in Asia Pacific, PPP Company Limited, Hong Kong, pp. 146-150.
EIJE, H. y WESTERMAN, W. (2002): «Multinational cash management and conglomerate discounts in the euro zone», International Business Review, April, pp. 1-25.
FAULDER, G. (2001): «Foster’s choose treasury», Corporate Finance, N.º 198, pp. 25-26.
FERNÁNDEZ, R. (2004): Análisis sistemático del compromiso exportador de la Pyme familiar: perfil de recursos y capacidades de la Pyme exportadora riojana, Tesis Doctoral no publicada, Universidad de La Rioja.
FORNELL, C. y LARCKER, D.F. (1981): «Evaluation of structural equation models with unobservable variables and measurement error», Journal of Marketing Research, Vol. 18, No. 1, pp. 39-50.
GARGALLO, A. y GALVE, C. (2003): «Impacto de las tecnologías de la información en la productividad: análisis para el caso español», XIII Congreso Nacional ACEDE, Salamanca.
GRABER, R. (2002): «Online cash management, market customer expectations and banks challenges», AFP- Exchange, Vol. 22, No. 3, pp. 46-49.
HAIR, J.F., ANDERSON, R.E., TATHAM, R.I. y BLACK, W.C. (1999): Análisis Multivariante, 5.ª edición, Prentice-Hall, Madrid.
HERBST, A.F. (2001): «E-finance: Promises kept, promises unfulfilled, and implications for policy and research», Global Finance Journal, Vol. 12, N.º 2, pp. 153-312.
HILL, N.C. y SARTORIS, W.L. (1995): Short term financial management, Prentice-Hall, New Jersey.
HUMPHREY, D.B., PULLEY, I. y VESALA, J.M. (1996): «Cash paper and electronic payments: A cross-country analysis», Journal of Money, Credit and Banking, Vol. 28, No. 4, part 2, November, pp. 914-939.
KANTROW, A.M. (1980): «The strategy-technology connection», Harvard Business Review, July/August, pp. 6-22.
KING, W. (1987): «Developing strategic business advantage from information technology» en
PIERCY (Ed.), Management information systems: the technology challenge, Croom Helm, London, pp. 233-249.
LARGE, J. (1997): «How the Internet will deliver a cheap and speedy service», Corporate Finance, No. 150, pp. 18-22.
LEE, S., LEE, K. y WON, I. (2005): «Efficiency analysis of controls in EDI applications», Information and Management, Vol. 42, No. 3, March, pp. 425-439.
LEVINSOHN, A. (2001): «The wild, wired world of e-finance», Strategic Finance, No. 82, April, pp. 27-32.
LODERER, C. y PICHLER, K. (2000): «Firms, do you know your currency risk exposure? Survey results», Journal of Empirical Finance, Vol. 7, No. 3-4, pp. 317-344.
LÓPEZ, J.I, MINGUELA, B., RODRÍGUEZ, A. y SANDULLI, F.D. (2003): «Uso de Internet y paradoja de productividad: el caso de las empresas españolas», XIII Congreso Nacional ACEDE, Salamanca.
LUQUE, T. (2000): Técnicas de análisis de datos en investigación de mercados, Pirámide, Madrid.
MARKOVIC, P.J. (1998): «Internet technology: key issues for treasury managers», TMA Journal, Vol. 18, No. 6, pp. 30-35.
MCFARLAN, F.W. (1984): «Information technology changes the way you compete», Harvard Business Review, Vol. 62, No. 3, May-June, pp. 98-103.
MISHKIN, F. y STRAHAN, P. E. (1999): What will technology do to financial structure?, Working Paper, No. 6892, National Bureau of Economic Research, obtenido en www.nber.org, pp. 1-41.
MOONEY, J.L. y PITTMAN, W.D. (1996): «A guide to electronic commerce», Management Accounting, Vol. 78, No. 3, September, pp. 43-47.
MULLIGAN, P. y GORDON, S.R. (2002): «The impact of information technology on customer and supplier relationships in the financial services», International Journal of Service Industry Management, Vol. 13, No. 1, pp. 29-46.
NAVALÓN, M. y SANTOMÁ, J. (2002): E-finanzas, Gestión 2000, Barcelona.
NÁJERA, J.J. (2005): «El estudio del impacto de la tecnología de la información sobre los resultados empresariales: una revisión de la literatura», XV Congreso Nacional ACEDE. La Laguna.
PENNATHUR, A.K. (2001): «Clicks and bricks e-risk management for banks in the age of the Internet», Journal of Banking and Finance, Vol. 25, pp. 2103-2123.
PETERSEN, M.A. y RAJAN, R.G. (2002): «Does distance still matter? The information revolution in small business lending», Journal of Finance, Vol. LVII, No. 6, pp. 2533-2570.
PHILLIPS, A.L. (1998): «Migration of corporate payments from check to electronic format: a report on the current status of payments», Financial Management, Vol. 27, No. 4, winter, pp. 92-105.
PORTER, M. y MILLAR, V.E. (1985): «How information gives you competitive advantage», Harvard Business Review, Vol. 63, No. 4, julio/agosto, pp. 149-160.
POYNTER, C.A. (1998): «Cash Management- year 2000 and beyond», TMA Journal, Vol. 18, No. 1, pp. 46-48.
ROCKART, J.F. y SCOTT, M.S. (1984): «Implications of changes in information technology for corporate strategy», Interfaces, Vol. 14, No. 1, January/February, pp. 84-95.
SAN JOSÉ, L. (2006): Influencia y utilización de las tecnologías de la información y la comunicación en el desarrollo de la gestión de tesorería, Tesis Doctoral no publicada, Universidad del País Vasco.
SCHAECHTER, A. (2002): Issues in electronic banking: an overview, Policy Discussion Paper, FMI, obtenido en www.imf.org, No. 6, March, pp. 1-26.
SHON, T.H. y SWATMAN, P.M.C. (1998): «Identifying effectiveness criteria for Internet payment systems», Internet Research Electronic Networking Applications And Policy, Vol. 8, No. 3, pp. 202-218.
SIMON, G. (2001): «Presupuestos e Internet», Harvard-Deusto Finanzas y Contabilidad, No. 41, mayo/junio, pp. 20-22.
SINGER, M., STEPHENSON, J. y WAITMAN, R. (2001): «Internet en la gestión de tesorería», Harvard-Deusto Finanzas y Contabilidad, N.º 41, mayo/junio, pp. 16-19.
SKERRITT, S.E. (1999): «Moving toward the future-the evolution continues», AFP-Exchange, Vol. 19, N.º 6, pp. 12-16.
STARK, J. (coord.) (2002): IT innovations and financing patterns: implications for the financial system, Bank of International Settlements, Committee on the Global Financial System, obtenido en www.bis.org, February, pp. 1-31.
THURSTON, C.W. (2000): «Integrating treasury management», Global Finance Journal, Vol. 14, No. 7, pp. 49-50.
TSE, K.L., BRUCKLEY, A. y WESTERMAN, W. (1998a): «A survey of cash management in the Netherlands: Centralisation and payment and collection practices», International Journal of Management, Vol. 15, No. 2, pp. 193-202.
TSE, K.L., BUCKLEY, A. y WESTERMAN, W. (1998b): «A survey of cash management in the Netherlands- Part 2: liquidity management, netting, bank relationships and software systems», International Journal of Management, Vol. 15, No. 3, pp. 280-289.
VASARHELYI, M. y GREENSTEIN, M. (2003): «Underlying principles of the electronization of business: a research agenda», International Journal of Accounting Information Systems, No. 4, pp. 1-25.
WELCH, B. (1999): Electronic banking and treasury security, 2nd edition, Blackwell, Oxford.
WILLIAMS, B.C., CHEN, J.C. y RUSSELL, P.O. (1997): «Understanding changes in systems, accounting and auditing: the impact of EDI», Managerial Auditing Journal, Vol. 12, No. 6, pp. 298-304.
BARAJAS, A. y VILLANUEVA, M. (2001): «Escenario de la banca en Internet», Banca y Finanzas, No. 66, pp. 29-32.
BERNAL, E. (2001): «Sistemas de pago con monedero electrónico: situación en la Unión Europea», Actualidad Financiera, Vol. 6, No. 1, enero, pp. 25-44.
BIRTS, A. y COUSINS, P.D. (1994): «Purchasing partnerships, technology and the treasury function», Logistics Information Management, Vol. 7, No. 2, pp. 18-24.
BIS (2001): Electronic finance: a new perspective and challenges, Bank of International Settlements, obtenido en www.bis.com, November, pp. 1-122.
BONSÓN, E., COFFIN, Z. y WATSON, L. (2000): «Un lenguaje para el reporting digital», Partida Doble, No. 17, diciembre, pp. 16-22.
BROWNE, M.W. y CUDECK, R. (1993): «Alternative ways of assessing model fit» en BOLLEN, K.A. y LONG, J.S. (Eds.), Testing structural equation models, Newbury Park, Sage, pp. 136-162.
BRUQUE, J.S. (2002): La paradoja de la productividad de las tecnologías de la información. El caso de la distribución farmacéutica. Servicio de publicaciones de la Universidad de Jaén-Jafarco, Jaén.
BRYNJOLFSSON, E. y HITT, L. (2000): «Beyond computation: information technology, organizational transformation and business performance», Journal of Economic Perspective, Vol. 14, No. 4, fall, pp. 23-48.
CAMERON, K. y QUINN, R. (1999): Diagnosing and changing organizational culture, AddisonWesley Series, New York.
CASANOVAS, M. y FERNÁNDEZ, A. (2001): E-tesorería, Gestión 2000, Barcelona.
CLAESSENS, S., GLAESSNER, T. y KLINGEBIEL, D. (2000): Electronic finance: reshaping the financial landscape around the world, Working Paper, No. 4, obtenido en www.ssrn.com, September, pp. 1-26.
COPELAND, K.W. y HAWANG, C.J. (1997): «Electronic data interchange: concepts and effects», Inet’97 proceedings the Internet, 24-27 de junio, Kuala Lumpur (Malaysia).
EBY, G. (2003): «Cash management IT: managing the technology evolution», HSBC’s Guide to cash and treasury management in Asia Pacific, PPP Company Limited, Hong Kong, pp. 146-150.
EIJE, H. y WESTERMAN, W. (2002): «Multinational cash management and conglomerate discounts in the euro zone», International Business Review, April, pp. 1-25.
FAULDER, G. (2001): «Foster’s choose treasury», Corporate Finance, N.º 198, pp. 25-26.
FERNÁNDEZ, R. (2004): Análisis sistemático del compromiso exportador de la Pyme familiar: perfil de recursos y capacidades de la Pyme exportadora riojana, Tesis Doctoral no publicada, Universidad de La Rioja.
FORNELL, C. y LARCKER, D.F. (1981): «Evaluation of structural equation models with unobservable variables and measurement error», Journal of Marketing Research, Vol. 18, No. 1, pp. 39-50.
GARGALLO, A. y GALVE, C. (2003): «Impacto de las tecnologías de la información en la productividad: análisis para el caso español», XIII Congreso Nacional ACEDE, Salamanca.
GRABER, R. (2002): «Online cash management, market customer expectations and banks challenges», AFP- Exchange, Vol. 22, No. 3, pp. 46-49.
HAIR, J.F., ANDERSON, R.E., TATHAM, R.I. y BLACK, W.C. (1999): Análisis Multivariante, 5.ª edición, Prentice-Hall, Madrid.
HERBST, A.F. (2001): «E-finance: Promises kept, promises unfulfilled, and implications for policy and research», Global Finance Journal, Vol. 12, N.º 2, pp. 153-312.
HILL, N.C. y SARTORIS, W.L. (1995): Short term financial management, Prentice-Hall, New Jersey.
HUMPHREY, D.B., PULLEY, I. y VESALA, J.M. (1996): «Cash paper and electronic payments: A cross-country analysis», Journal of Money, Credit and Banking, Vol. 28, No. 4, part 2, November, pp. 914-939.
KANTROW, A.M. (1980): «The strategy-technology connection», Harvard Business Review, July/August, pp. 6-22.
KING, W. (1987): «Developing strategic business advantage from information technology» en
PIERCY (Ed.), Management information systems: the technology challenge, Croom Helm, London, pp. 233-249.
LARGE, J. (1997): «How the Internet will deliver a cheap and speedy service», Corporate Finance, No. 150, pp. 18-22.
LEE, S., LEE, K. y WON, I. (2005): «Efficiency analysis of controls in EDI applications», Information and Management, Vol. 42, No. 3, March, pp. 425-439.
LEVINSOHN, A. (2001): «The wild, wired world of e-finance», Strategic Finance, No. 82, April, pp. 27-32.
LODERER, C. y PICHLER, K. (2000): «Firms, do you know your currency risk exposure? Survey results», Journal of Empirical Finance, Vol. 7, No. 3-4, pp. 317-344.
LÓPEZ, J.I, MINGUELA, B., RODRÍGUEZ, A. y SANDULLI, F.D. (2003): «Uso de Internet y paradoja de productividad: el caso de las empresas españolas», XIII Congreso Nacional ACEDE, Salamanca.
LUQUE, T. (2000): Técnicas de análisis de datos en investigación de mercados, Pirámide, Madrid.
MARKOVIC, P.J. (1998): «Internet technology: key issues for treasury managers», TMA Journal, Vol. 18, No. 6, pp. 30-35.
MCFARLAN, F.W. (1984): «Information technology changes the way you compete», Harvard Business Review, Vol. 62, No. 3, May-June, pp. 98-103.
MISHKIN, F. y STRAHAN, P. E. (1999): What will technology do to financial structure?, Working Paper, No. 6892, National Bureau of Economic Research, obtenido en www.nber.org, pp. 1-41.
MOONEY, J.L. y PITTMAN, W.D. (1996): «A guide to electronic commerce», Management Accounting, Vol. 78, No. 3, September, pp. 43-47.
MULLIGAN, P. y GORDON, S.R. (2002): «The impact of information technology on customer and supplier relationships in the financial services», International Journal of Service Industry Management, Vol. 13, No. 1, pp. 29-46.
NAVALÓN, M. y SANTOMÁ, J. (2002): E-finanzas, Gestión 2000, Barcelona.
NÁJERA, J.J. (2005): «El estudio del impacto de la tecnología de la información sobre los resultados empresariales: una revisión de la literatura», XV Congreso Nacional ACEDE. La Laguna.
PENNATHUR, A.K. (2001): «Clicks and bricks e-risk management for banks in the age of the Internet», Journal of Banking and Finance, Vol. 25, pp. 2103-2123.
PETERSEN, M.A. y RAJAN, R.G. (2002): «Does distance still matter? The information revolution in small business lending», Journal of Finance, Vol. LVII, No. 6, pp. 2533-2570.
PHILLIPS, A.L. (1998): «Migration of corporate payments from check to electronic format: a report on the current status of payments», Financial Management, Vol. 27, No. 4, winter, pp. 92-105.
PORTER, M. y MILLAR, V.E. (1985): «How information gives you competitive advantage», Harvard Business Review, Vol. 63, No. 4, julio/agosto, pp. 149-160.
POYNTER, C.A. (1998): «Cash Management- year 2000 and beyond», TMA Journal, Vol. 18, No. 1, pp. 46-48.
ROCKART, J.F. y SCOTT, M.S. (1984): «Implications of changes in information technology for corporate strategy», Interfaces, Vol. 14, No. 1, January/February, pp. 84-95.
SAN JOSÉ, L. (2006): Influencia y utilización de las tecnologías de la información y la comunicación en el desarrollo de la gestión de tesorería, Tesis Doctoral no publicada, Universidad del País Vasco.
SCHAECHTER, A. (2002): Issues in electronic banking: an overview, Policy Discussion Paper, FMI, obtenido en www.imf.org, No. 6, March, pp. 1-26.
SHON, T.H. y SWATMAN, P.M.C. (1998): «Identifying effectiveness criteria for Internet payment systems», Internet Research Electronic Networking Applications And Policy, Vol. 8, No. 3, pp. 202-218.
SIMON, G. (2001): «Presupuestos e Internet», Harvard-Deusto Finanzas y Contabilidad, No. 41, mayo/junio, pp. 20-22.
SINGER, M., STEPHENSON, J. y WAITMAN, R. (2001): «Internet en la gestión de tesorería», Harvard-Deusto Finanzas y Contabilidad, N.º 41, mayo/junio, pp. 16-19.
SKERRITT, S.E. (1999): «Moving toward the future-the evolution continues», AFP-Exchange, Vol. 19, N.º 6, pp. 12-16.
STARK, J. (coord.) (2002): IT innovations and financing patterns: implications for the financial system, Bank of International Settlements, Committee on the Global Financial System, obtenido en www.bis.org, February, pp. 1-31.
THURSTON, C.W. (2000): «Integrating treasury management», Global Finance Journal, Vol. 14, No. 7, pp. 49-50.
TSE, K.L., BRUCKLEY, A. y WESTERMAN, W. (1998a): «A survey of cash management in the Netherlands: Centralisation and payment and collection practices», International Journal of Management, Vol. 15, No. 2, pp. 193-202.
TSE, K.L., BUCKLEY, A. y WESTERMAN, W. (1998b): «A survey of cash management in the Netherlands- Part 2: liquidity management, netting, bank relationships and software systems», International Journal of Management, Vol. 15, No. 3, pp. 280-289.
VASARHELYI, M. y GREENSTEIN, M. (2003): «Underlying principles of the electronization of business: a research agenda», International Journal of Accounting Information Systems, No. 4, pp. 1-25.
WELCH, B. (1999): Electronic banking and treasury security, 2nd edition, Blackwell, Oxford.
WILLIAMS, B.C., CHEN, J.C. y RUSSELL, P.O. (1997): «Understanding changes in systems, accounting and auditing: the impact of EDI», Managerial Auditing Journal, Vol. 12, No. 6, pp. 298-304.
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