SEI Investments is looking to bring the job of treasurer into the 21st century.
The Oaks, Pa.-based firm has created TreasuryPoint.com, a website giving treasurers managing short-term financial instruments access to market commentary, a portfolio optimization tool and online trading.
"Organizations often limit their alternatives . . .," said Jack May, senior vice president at SEI. "This gives treasurers ammunition to create a more competitive investing set and borrowing set."
In its current phase, investors are able to pull borrowing rates, investment rates and market commentary on commercial paper and Treasuries from the website.
In April, the portfolio optimizer tool will be rolled out. The software was developed by WISDOM Technologies Corp. and uses artificial intelligence techniques to help treasurers to maximize their revenue while minimizing their debt, interest and transaction costs in short-term investments. "We've had a lot of site activity in anticipation of the optimizer," Mr. May said.
By July, SEI expects to have a trading platform for pooled money market funds, which would include but not be limited to SEI products.
The site is in beta testing with a number of SEI clients. In the future, it likely will be used by non-SEI clients also. The annual subscription cost would be $30,000.
The TreasuryPoint.com concept could spread beyond fixing the problems of the short-term balance sheet, Mr. May expects. SEI may offer similar sites for retirement services, risk management and capital budgeting.