1. A company recently implemented an ERP system, including a treasury management system (TMS) module. All of the following are true of these systems EXCEPT

1. they provide a consistent treasury system for the entire company.
2. they eliminate redundant processes and make data exchange seamless.
3. the they may include a TMS application to directly connect to the organization's banks.
4. there may be approval delays for some data outside the TMS such as ledger postings in the general ledger module.