Bank Account Compliance/Fee Analysis
Operating in a global economy often means that cash is deposited in disparate bank accounts around the world and the structure of these bank accounts is sometimes necessarily complex. Failure to manage the operational risks relating to these accounts can lead to loss of funds or the mis-statement of financial statements. It is essential for treasurers to put effective controls in place and to have complete visibility to cash. Failure to do so can result in significant losses for a corporation.
Bank Account Compliance can help Treasurers to put into place the appropriate procedures that will help them to maintain tight control over their bank accounts. As an extension to existing treasury system functionality, this solution supports and simplifies the certification process and audit requests each quarter, making it part of the standard bank relationship management process within the treasury.
Features:
- Centralized Repository to Manage & Track Bank Accounts
- Maintain Accounts, Contacts & Signatories All In a Single Location
- Perform Bank Fee Analysis
- Systematically Track all Enterprise Wide Bank Accounts
- Maintain Bank Relationship Structures & the Corresponding Bank Contacts
- Keep Complete Records of Qualified Corporate Signers & Their Applied Limits
- Track Compensation Analysis to Perform Service & Fee Analysis
Benefits:
- Automatic Notification of Account Changes
- Single Source for All Banking Communication
- Gain Enhanced Security & Controls
- Operational Efficiency Through Automated Mandate Maintenance
- Reduce Costs Through Bank Fee Analysis