Active Liquidity Podcast – How AI Protects Payments During COVID19

| 17-08-2020 | treasuryXL | Kyriba |

Our Partner Kyriba has launched their podcast, in which the Chief Product Officer Thierry Truche shares his view on how AI (Artificial Intelligence) is essential as the third line of defense for finance chiefs, ensuring payments are protected during the COVID 19 pandemic. Even if you are a company that has strong fraud prevention processes in place, remote working conditions require AI to detect abnormal payments activity. Hear why Truche sees AI as a replacement for the collective intelligence that is more present in an office setting in this episode of the Activity Liquidity Podcast!

 

 

About Kyriba

Kyriba empowers CFOs and their teams to transform how they activate liquidity as a dynamic, real-time vehicle for growth and value creation, while also protecting against financial risk. Kyriba’s pioneering Active Liquidity Network connects internal applications for treasury, risk, payments and working capital, with vital external sources such as banks, ERPs, trading platforms, and market data providers. Based on a secure, highly scalable SaaS platform that leverages artificial and business intelligence, Kyriba enables thousands of companies worldwide to maximize growth opportunities, protect against loss from fraud and financial risk, and reduce costs through advanced automation. Kyriba is headquartered in San Diego, with offices in New York, Paris, London, Frankfurt, Tokyo, Dubai, Singapore, Shanghai and other major locations. For more information, visit www.kyriba.com.

 

SOURCE

Webinar | July 16 | Mitigating Fraud With a Corporate Payment Hub

| 22-06-2020 | treasuryXL | Kyriba |

In today’s changing IT environment, we see more corporates exposed to the risk of fraud, due to legacy controls and manual processes. With many companies applying a new ‘working from home’ strategy, the risk of fraud is bigger than ever before.

In today’s changing IT environment, we see more corporates exposed to the risk of fraud, due to legacy controls and manual processes. With many companies applying a new ‘working from home’ strategy, the risk of fraud is bigger than ever before.

During this webinar we will hear:

  • How does a payment hub support you in mitigating fraud?
  • What is rules based fraud detection?
  • Why is machine learning an important part of our fraud detection?
  • How does fraud detection fit in your overall payment processes?

Paul Simpson, Strategic Payments Director at Kyriba, together with Value Engineer, Alroy D’Cruz, will discuss these most important questions and will give you an insight on how Kyriba is supporting over 2,300 of your peers worldwide with our SaaS Payment Fraud solutions.

Presenters:

 

 

 

PAUL SIMPSON

Strategic Payments Director, Kyriba

 

 

 

 

 

ALROY D’CRUZ

Value Engineer, Kyriba

 

 



Submit on the registration page and save your place.

 

About Kyriba

Kyriba empowers CFOs and their teams to transform how they activate liquidity as a dynamic, real-time vehicle for growth and value creation, while also protecting against financial risk. Kyriba’s pioneering Active Liquidity Network connects internal applications for treasury, risk, payments and working capital, with vital external sources such as banks, ERPs, trading platforms, and market data providers. Based on a secure, highly scalable SaaS platform that leverages artificial and business intelligence, Kyriba enables thousands of companies worldwide to maximize growth opportunities, protect against loss from fraud and financial risk, and reduce costs through advanced automation. Kyriba is headquartered in San Diego, with offices in New York, Paris, London, Frankfurt, Tokyo, Dubai, Singapore, Shanghai and other major locations. For more information, visit www.kyriba.com.

7 Experts on Activating Liquidity – a Guide to Leveraging Technology to Generate New Growth

| 11-6-2020 | treasuryXL | Kyriba |

Managing liquidity has never been easy, but new technologies are making it easier. With ease comes speed, accuracy and efficiency, enabling treasury to more effectively see, move and protect cash and generate increased business value. However, activating liquidity while navigating volatile markets can be difficult. So how does treasury leverage technology to activate liquidity and generate new growth, and what does it gain by doing so?

‘7 Experts on Activating Liquidity’ is a Mighty Guide, sponsored by leading global cloud treasury and finance solution provider Kyriba.  In this guide the question of how to leverage technology to optimise treasury and finance, extend visibility and controls, and maximise enterprise value is explored by asking seven treasury management experts from different industries the following questions:

  1. How does expanding the scope of treasury to be inclusive of cash, risk, payments and working capital increase enterprise value?
  2. How do you most effectively manage FX risk exposure, and why is it important to do that?
  3. What are the advantages of centralizing and standardizing global payment processes through a single system?
  4. What are the advantages of centralizing the management of free cash flow and liquidity in your organization?
  5. What level of integration is necessary to get a true, real-time view of cash and liquidity, and how would that real-time data enhance decision making and performance?

Their insights are collected in the five chapters of this eBook. In reading them, David Rogelberg, Editor, was struck by how different the challenges are for each of the expert’s business, and how they all benefit from greater visibility into cash, payments, risk and working capital.

CFOs have a tough balancing act – trying to pursue strategic growth initiatives while minding the right level of risk. And recent global events have exacerbated this challenge. The answer to solving this problem lies in Active Liquidity – an approach to treasury and finance that elevates the impact of liquidity to generate new market value, even in volatile markets.

Kyriba is excited to sponsor this eBook, in which seven treasury leaders lend their expertise to the concept of Active Liquidity and the key pieces that it encompasses – optimizing cash, payments and risk to generate business value.  Activating Liquidity puts organizations on a path to new value creation, enabling them to:

  • Expand the abilities of treasury and finance, using liquidity as a lever to build value
  • Extend visibility and controls to see, move, protect and grow cash
  • Transform data into intelligence and drive action to maximize enterprise value

This Mighty Guide aims to provide a holistic view and credible advice by exploring, comparing and contrasting a variety of viewpoints from top experts.  The insights given by these treasury executives will give a deep understanding of the benefits of Active Liquidity and how insight into global cash, liquidity and exposure can help execute treasury strategies more easily and efficiently.

Request and download free e-book:

Kyriba is a proud sponsor of this Mighty Guide.  Kyriba empowers CFOs and their teams to transform how they activate liquidity as a dynamic, real-time vehicle for growth and value creation, while also protecting against financial risk. Kyriba’s pioneering Active Liquidity Network connects internal applications for treasury, risk, payments and working capital, with vital external sources such as banks, ERPs, trading platforms, market data providers, and other financial institutions. Based on a secure, highly scalable SaaS platform that leverages artificial and business intelligence on an API-enabled architecture, Kyriba enables thousands of companies worldwide to maximize growth opportunities, protect against loss from fraud and financial risk, and reduce costs through advanced automation. Kyriba is headquartered in San Diego, with offices in The Netherlands, London, Paris, New York, Tokyo, Dubai and other major locations.

For more information, visit www.kyriba.com.

Automation key to cash forecasting in a crisis

| 12-05-2020 | treasuryXL | OpusCapita |

As businesses face drastic cash flow issues caused by the pandemic, digitalising cash management can be key in minimising risk.

Digitalisation could be vital to cash management amid financial crisis

As businesses face drastic cash flow issues caused by the pandemic, digitalising cash management can be key in minimising risk.

“Digitalisation can mean that you have more data in your systems electronically and that, of course, helps when you need a full picture of everything. With artificial intelligence you can find patterns that are invisible to the human eye but could be quite groundbreaking. The data has been around in the ERP systems and treasury management systems electronically for quite a while,” says Karl-Henrik Sundberg, presales executive lead at OpusCapita.

“Many corporates are putting data in Excel sheets and sending Excel sheets between themselves. When you’re doing spreadsheets, there can be errors in formulas, and it’s a manual work. OpusCapita compiles everything system-wise – data file integrations or APIs, so it’s no manual work involved at all.”

In times of financial crisis, reverting to a single cash management system can be highly beneficial for businesses seeking to get insights into their currency positions in real time, so they can react to internal and systemic pressures.

“When you are operating in a global environment and the business is complex, you have very different legal entities in your group, and you have many currencies and quite a lot of bank relations and bank accounts scattered around the globe. As this is not easy, having a software tool can enable you to consolidate everything into one place.

“We offer a multi bank, so you can log into OpusCapita, and see all your balances across the globe in one view. Particularly now in these times, the CFO, or the head of treasury really needs to know, ‘what do we have on our bank accounts in Italy? Or what is the status of our cash right now in North America,” explains Sundberg.

Remaining prepared

To bridge the gap of uncertainty, Sundberg advises businesses to focus on cash visibility and forecasting through the process of automation – easing the role of treasurers controlling finances amid a crisis.

“Get the cash visibility up and running. In today’s fast paced environment, you can’t really come out to your subsidiaries around the globe and ask for a weekly cash report on a spreadsheet – that’s why we automate this as much as possible. When I was heading cash management operations & treasury back office for a global corporate, getting the visibility on cash positions was vital for succeeding in our work.

“The second thing after that is cash forecasting. With an efficient tool, you can also get a picture of all your future cash flows. You should be looking for to import, for example, accounts receivables; accounts payables; purchase orders; and sales orders. The same goes for cash visibility – if you’re a global company and you have operations all around the world, most likely you have this data in various systems. Through automation, you can combine this into one place and offer a consolidated view of future cash, cash positions and cash flows,” he says.

Access to real time data on cash flow can enhance treasurers’ confidence in pursuing business decisions, particularly as automation allows them to forecast the impact of crises.

“As a business leader, treasurer, or CFO, having that information can make you be more confident. You can use this investment to generate business growth or have the power to act on – meaning it also impacting business decisions.

“In rough times, with automated cash positions and cash flows, you can immediately see if things start going in the wrong direction as you log in into the system. It’s a kind of alert system when embarking in the wrong route. Without the system, it might take weeks before you discover it and then it might even be too late. Of course, we are not spotting the Coronavirus in the system but we are spotting the effects of the Coronavirus reflected in the cash flow,” Sundberg explains.

As part of its cash management solutions, OpusCapita offers a basic version of its cloud-based module for cash forecasting to facilitate access to treasurers’ cash positions for free until the end of 2020. This basic version can be easily extended into a full-blown cash forecasting & analytics solution, or a payment hub incorporating a multi-bank solution for outgoing payments and a matching tool to automate the incoming money with accounts receivables.

 

Read more information about Liquidity basic here.

 

About OpusCapita

OpusCapita enables organizations to buy and pay quickly and securely, with a real-time view of their business. OpusCapita customers use their source-to-pay and cash management solutions to connect, transact and grow. OpusCapita processes over 100 million electronic transactions annually on its Business Network.

Visit OpusCapita

Visit Partner Page

Read Customer Success Stories

DELOITTE & KYRIBA WEBINAR | Today’s Payments Landscape: Reducing Costs & Fraud, Increasing Productivity

| 11-05-2020 | treasuryXL | Kyriba |

Register today!

When? Thursday, May 14, 2020

Start: 3.00 pm – 3.45 pm CET

Duration: 45 minutes

From CFOs to controllers to treasurers, financial leaders are constantly looking for ways to improve their payment processes as inefficient workflows can inhibit supply chains, cash flow, and profitability, not to mention increase fraud risk.

Deloitte and Kyriba have joined to discuss the current payments landscape in the Netherlands, and how technologies and centralised and standardised payment processes can dramatically increase productivity, lower costs and enhance fraud prevention.

In this 45-minute webinar, we will discuss:

  • Deloitte Treasury Advisory Services.
  • Key drivers for Payment Projects & Challenges for Treasurers.
  • The payment landscape today.
  • Challenging the Status Quo.
  • Panel Q & A

Submit on the registration page and safe your place.

 

About Kyriba

Kyriba empowers CFOs and their teams to transform how they activate liquidity as a dynamic, real-time vehicle for growth and value creation, while also protecting against financial risk. Kyriba’s pioneering Active Liquidity Network connects internal applications for treasury, risk, payments and working capital, with vital external sources such as banks, ERPs, trading platforms, and market data providers. Based on a secure, highly scalable SaaS platform that leverages artificial and business intelligence, Kyriba enables thousands of companies worldwide to maximize growth opportunities, protect against loss from fraud and financial risk, and reduce costs through advanced automation. Kyriba is headquartered in San Diego, with offices in New York, Paris, London, Frankfurt, Tokyo, Dubai, Singapore, Shanghai and other major locations. For more information, visit www.kyriba.com.

treasuryXL announces partnership with Kyriba to strengthen dissemination of the latest trends about treasury

| 22-4-2020 | treasuryXL | Kyriba |

VENLO, The Netherlands, April 22, 2020 – treasuryXL, the community platform for everyone who is active in the world of treasury, and Kyriba in the Netherlands, the global leader in cloud treasury and finance solutions today announced the signature of a premium partnership.

The partnership aims at offering a continuous flow of treasury content, making treasury knowledge available. This partnership includes:

  • collaboration on messaging, content production, and visibility
  • mutual distribution on select items of interest
  • collaboration on larger themes: event promotion, speaking and experts contribution, publications

Treasury management is currently experiencing a revolution under the effect of digital transformation. With this partnership, treasuryXL and Kyriba are striving to make sure that treasurers are always up to date with the latest news and events in their field.

According to Kendra Keydeniers, treasuryXL “We are happy to welcome Kyriba in our community. Kyriba is recognised by leading analyst firms, treasury and finance trades for its innovation and its leadership in cloud finance solutions. Kyriba will have a prominent role in the Treasury Topic environment with coverage in Cash Management, Risk Management, Treasury Software, Payments & Banking, Fraud & Cyber security and Working Capital Management which is a considerable contribution to our ecosystem.”

“With an increasing focus on digital transformation, financial leaders must be empowered with insights into all the latest treasury trends. They need rapid access to on-the-pulse information around the latest industry news, plus new services and products to support their initiatives for innovation and competitiveness. With this partnership, treasuryXL, Kyriba has access to a well -established communications forum and a wide treasury ecosystem.” says Luuk Linssen at Kyriba.

About treasuryXL

treasuryXL started in 2016 as a community platform for everyone who is active in the world of treasury. Their extensive and highly qualified network consists out of experienced and aspiring treasurers. treasuryXL keeps their network updated with daily news, events and the latest treasury vacancies.

treasuryXL brings the treasury function to a higher level, both for the inner circle: corporate treasurers, bankers & consultants, as well as others that might benefit: CFO’s, business owners, other people from the CFO Team and educators.

treasuryXL offers:

  • professionals the chance to publish their expertise, opinions, success stories, distribute these and stimulate dialogue.
  • a labour market platform by creating an overview of vacancies, events and treasury education.
  • a variety of consultancy services in collaboration with qualified treasurers.
  • a broad network of highly valued partners and experts.

About Kyriba

Kyriba empowers CFOs and their teams to transform how they activate liquidity as a dynamic, real-time vehicle for growth and value creation, while also protecting against financial risk. Kyriba’s pioneering Active Liquidity Network connects internal applications for treasury, risk, payments and working capital, with vital external sources such as banks, ERPs, trading platforms, and market data providers. Based on a secure, highly scalable SaaS platform that leverages artificial and business intelligence, Kyriba enables thousands of companies worldwide to maximize growth opportunities, protect against loss from fraud and financial risk, and reduce costs through advanced automation. Kyriba is headquartered in San Diego, with offices in New York, Paris, London, Frankfurt, Tokyo, Dubai, Singapore, Shanghai and other major locations. For more information, visit www.kyriba.com.

OpusCapita makes Liquidity Management free for all customers

| 26-3-2020 | treasuryXL | OpusCapita |

OpusCapita makes Liquidity Management in a basic version free for their SaaS customers

OpusCapita, treasuryXL partner and leading cash management solution provider announces today that they have chosen to make their Liquidity Management product free for all customers until the end of the year in order to help treasury and cash management professionals to meet the increased demand on accurate cash forecasts due to the spread of the coronavirus.

“We are living in unprecedented times and we want to help our customers. The demands on treasurers are immense right now and I feel if we can help by making our product for free it’s the right thing to do”, states Jukka Sallinen, Head of Cash Management, OpusCapita.

Liquidity Management will be available in a basic version to allow customers to start using it right away without any implementation or set-up needs.

“We are also looking for ways to enable companies who are not our customers to use this functionality at a heavily discounted price”, states Jukka Sallinen, Head of Cash Management, OpusCapita. 

“I am happy that we can help our customers in these tough times and that we as a company can do our part”, states Patrik Sallner, CEO OpusCapita.

What does Liquidity Management Basic enable you to do?

With the basic package, you will be able to enable your subsidiaries across the globe to manually input (or upload from Excel) their current cash balances and future cash flows (for example AR, AP, taxes etc) in OpusCapita. Once you have this data centralized, the basic package enables you to setup Reports and Dashboards which will automatically consolidate and display all entered balances and cash flows.

In short, this includes:

  • Manually entering cashflows (Liquidity Unit Entry)
  • Manually entering cash positions (Liquidity Balance Entry)
  • Liquidity grid and graph, best-practice Reports such as:
    • Cash Visibility
      • Cash balances per bank account, per bank or per company
      • Actual inflows and outflows on bank accounts (if statements are imported in OpusCapita)
    • Cash Forecasting
      • Total forecast
      • Forecast per bank account, per company or per currency
      • Actual vs Forecast
    • Dashboards for visualizations cash positions and forecast

Three steps to get started

1. Get in touch with us so we can enable Liquidity Basic for you.

2. Add cash flows with pre-built templates or import them from Excel.

3. Build reports with our straight-forward drag’n’ drop functionality.

 

Read more information here.

 

About OpusCapita

OpusCapita enables organizations to buy and pay quickly and securely, with a real-time view of their business. OpusCapita customers use their source-to-pay and cash management solutions to connect, transact and grow. OpusCapita processes over 100 million electronic transactions annually on its Business Network.

Visit OpusCapita

Visit Partner Page

Read Customer Success Stories

treasuryXL announces partnership with OpusCapita

| 19-3-2020 | treasuryXL | OpusCapita |

treasuryXL announces partnership with OpusCapita, a leading cash management provider.

VENLO, The Netherlands, MARCH 19, 2020 – treasuryXL, the community platform for everyone who is active in the world of treasury, today announced the premium partnership with a leading cash management provider, OpusCapita.

As a marketplace, treasuryXL will offer OpusCapita market commentary and insight to its audience. Offering a continuous flow of relevant treasury content, making treasury knowledge available, results in treasuryXL being the obvious go-to platform for its’ audience. OpusCapita will have a prominent role in the Treasury Topic environment with coverage in Cash Management, risk management, Treasury Software, Payments & Banking and Fraud & Cybersecurity. Together they will host virtual roundtables in the near future to connect with partners and experts around the world.

“We are excited to take part in the treasury community that TreasuryXL is building and look forward to join the network of treasury experts.” Marc Josefsson, Head of Strategic Sales, OpusCapita.

OpusCapita has over 800 customers across more than 100 countries. Their secure, cloud-based solution enables Treasury and Finance professionals to harmonize global processes and policies, centralize treasury and finance operations and reduce complexity.

treasuryXL and OpusCapita strive for a fruitful partnership where its’ audience are top of mind making sure that (potential) clients are always up to date with the latest cash management news and events benefit from a comprehensive range of services and products.

About treasuryXL

treasuryXL started in 2016 as a community platform for everyone who is active in the world of treasury. Their extensive and highly qualified network consists out of experienced and aspiring treasurers. treasuryXL keeps their network updated with daily news, events and the latest treasury vacancies.

treasuryXL brings the treasury function to a higher level, both for the inner circle: corporate treasurers, bankers & consultants, as well as others that might benefit: CFO’s, business owners, other people from the CFO Team and educators.

treasuryXL offers:

  • professionals the chance to publish their expertise, opinions, success stories, distribute these and stimulate dialogue.
  • a labour market platform by creating an overview of vacancies, events and treasury education.
  • a variety of consultancy services in collaboration with qualified treasurers.
  • a broad network of highly valued partners and experts.

About OpusCapita

OpusCapita enables organizations to buy and pay quickly and securely, with a real-time view of their business. OpusCapita customers use their source-to-pay and cash management solutions to connect, transact and grow. OpusCapita processes over 100 million electronic transactions annually on its Business Network.

Visit OpusCapita

Visit Partner Page

Read Customer Success Stories

TIS is growth champion for the third time in a row and is carrying its success story forward

| 03-12-2019 | TIS |

FOCUS BUSINESS and Statista rank the cloud-based payment expert among the fastest-growing and most promising companies in Germany. 

Walldorf, 28. November 2019. Above-average growth in turnover and staff as well as new and innovative ways of making corporate payment processes simpler and safer – with these qualities TIS (Treasury Intelligence Solutions GmbH) has now established itself on the list of the 500 FOCUS business growth champions for the third time in a row

Statista, the Hamburg-based statistics portal, had created a ranking of the 500 fastest-growing German companies for FOCUS BUSINESS, a well-known business magazine in Germany. 12,500 companies with particularly strong growth in sales or workforce were extracted from two million commercial register entries. The companies must have their principal place of business in Germany and have achieved organic growth. Based on these criteria, a shortlist of 1,654 firms was created and from this ultimately a top 500 ranking of champions who achieved average annual revenue growth of 52 % between 2015 and 2018. The list of 500 growth champions for 2020 was published in edition 3/2019 of the FOCUS BUSINESS magazine.

The fact that TIS is now listed in the ranking for the third time in a row is primarily thanks to the confidence which customers have placed in  its cloud-based payment  platform. The consistent upward trend of TIS also proves that rapid growth is essential in the big context of digitalization. Through features like ERP-integration, payment automation, process standardization, and a single login for all stakeholders to manage bank accounts and payments, TIS customers benefit from improved simplicity and security in handling all their payment transactions and gain greater insight into their cashflow data.

Jörg Wiemer, CSO and co-founder of TIS, proudly tells to the press: “We are delighted and very proud to be among the winners in the FOCUS growth ranking once again. We could only achieve the impressive business performance with the commitment of an outstandingly performing team in TIS, to whom I owe my special thanks. We are continuously working towards the acceleration of our further growth in Europe and in the USA with a solution that is highly appreciated by our customers.”

About TIS

TIS (Treasury Intelligence Solutions GmbH), founded in Walldorf, Germany in 2010, is a global leader in managing corporate payments. The Financial Times named TIS as one of “Europe’s Fastest Growing Companies” for 2019.

Offered as Software-as-a-Service (SaaS), the TIS solution is a comprehensive, highly-scalable, cloud platform for company-wide payments and cash management. For businesses, TIS creates a community of trust and empowers customers to make better decisions with 100% real-time cashflow visibility. Key benefits are lower costs, risk prevention, a higher degree of transparency and fast worldwide roll-outs. For banks and partners, TIS generates growth and revenue opportunities through continuous innovation for better payment experience.

The TIS solution has been successfully used for many years in both large and medium-sized companies, including Adecco Group, Hugo Boss, Fresenius, Fugro, Lanxess, OSRAM and QIAGEN. More than 25% of DAX companies are already TIS customers.

The high level of security and deep integration of the platform with existing ERP systems is certified by ISO-27001, SAP, SOC 1, SOC 2, and TISAX.

Your World of Payments. One Login.

Visit TIS.biz

Why are you still paying too much banking costs? There is a simple solution to save money

2-12-2019 | treasuryXL | Vallstein |

Do you have full transparency in your banking cost? Do you fully trust your bank(s)? You can easily save a significant amount of money and create strong ties with your bank(s) for a better relationship.

We interviewed Huub Wevers, Head of Business Development at Vallstein, he will take a deeper dive into the advantages of using WalletSizing® , give you a better insight and even shares a success story.

Can you tell something about WalletSizing® ?

WalletSizing® is a SaaS platform with a number of modules that gives Corporates full transparency on how much they spent on their banks and how profitable they are for their banks. A CFO would like to be able to drive the meetings with the bank supported by independent data showing exactly what a corporate is doing with the bank AND how profitable the corporate is for the bank. This is exactly what WalletSizing® delivers. WalletSizing® drives the focus and strategy of the meeting by showing how much a corporate is spending on their banks and how profitable they are for their banks. It ensures that a corporate gets value for money from their relationships with their banks.

An additional module of WalletSizing®, the bank fee edition is able to upload all bank invoices for cash management and comparing them with the original price agreements. Am I paying the price as agreed during the RFP phase?

WalletSizing® the Bankfee edition, can be used together with the other WalletSizing® modules or stand alone.

This module uploads all bank invoices (any format) for cash management and audits them with the original price agreements: Am I paying the price as agreed during the RFP phase? Are there unforeseen billing charges? I was not aware of these unusual situations like:

  1. a) manual payments,
  2. b) investigations,
  3. c) volumes… leading into continuous internal processes improvements.

WalletSizing® Bankfee edition is all about Automation, Control and Transparency, down to account level and including tailor made reporting for Auditors and Control teams. WalletSizing® Bankfee edition it is not a daily reconciliation system. It is an audit process that can be ran in different frequencies as those fits’ client requirements.

What is, in your perception, the biggest benefit of using WalletSizing® ?

Let me explain the following questions that WalletSizing® answers:

  • How much am I spending on my bank products & services?
  • How profitable am I for my banks?
  • Is the above fair?

The last question is the most important one and can be answered through the benchmarking capabilities of WalletSizing® and the underlying methodology. WalletSizing® is calculating the exact profitability on the basis of the relevant credit ratings, bank fees and the latest Basel III/IV regulations.

Another benefit is during the RFP or price revision process where the proposed prices from the Banks are also uploaded in the system and amongst other criteria, compared with the Vallstein Benchmark. This benchmark is a Vallstein property owned database with hundreds of thousands of data points collected over the last 20 years.

How does the customer project phase look like from start till actual use?

A typical WalletSizing® project takes 6 weeks where Vallstein will handle most of the work, typically 90%. We will gather all necessary data and integrate, translate and upload into the system. Through a number of workshops we ensure the client domain is 100% accurate and the client is versed in making the analysis and acting on it. “Having learned how to fish instead of just been given a fish” as the saying goes. During the project we will also set-up and agree how to continue maintenance of the system, ensuring an up to date system.

How fast can customers experience the impact of WalletSizing® after implementation?

Already during the implementation clients will be able to get benefits from the system by detecting missing bills. After an implementation, clients can immediately review their bank relationships and typically will reach very significant savings in their banking costs through that. And on the long run, clients will have more transparent and better relationships with their banks. When you have clarity on how much you are really paying, you have time to talk about more strategic topics with your banks.

What was your biggest challenge with WalletSizing® ?

The biggest challenge with WalletSizing® we had over the last 20 years is the data quality of the banks and the speed at which they deliver the data to our clients.  Fortunately this is improving due to invoice standards like CAMT.086 and a more shared belief in transparency in the market place. Things have changed for the better and we hope that we have and are contributing to that.

Can you share a great WalletSizing® success story?

A client of ours implemented WalletSizing® Bank Fee Edition. We Started with 9 Banks, 12 countries and 170 different accounts. We have now made the bank process completely automatic. Banks are sending the required and detailed fees data on a quarterly basis and this data is being uploaded into the system.

We found no unique and individual product codes across the banks. Product descriptions are not clear and fees are not consistent across the same billing items and accounts. This has been resolved completely by the system which is now automatically mapping all billing items into unified product names and codes. It is more easy now to compare different banking terms and conditions and market benchmark. Needless to say significant savings and 100% transparency has been achieved.

After this implementation the client agreed that they now had done the difficult part of Bank Relationship Management (Cash Management Fees) and were interested to pursue the analysis of the full banking wallet across all their banks. An exercise to understand the current situation, reduce the number of banks, but with full visibility across all banks on how much business and how profitable they were right now. In the end the client reduced their number of banks from 17 towards 9 and have an even spread of their business (Wallet) across all their banks.

visit Vallstein.com

You are only one step away from saving a lot of money

Huub is thrilled to help you. Fill out the contact form and we arrange a call for you.