Optimise cash management and bank spend?

BankLab™ Solution

Our BankLab™ solution allows you to benchmark your banking costs, speed up the bank selection processes during bank tender and provides a wealth of information on cash management services provided by the banks worldwide.

BankLab™ can help you answer questions like:

How many branches does a bank have in Spain? Do they have a local partnership in place?
Is a bank present in China? What products do they offer?
Which types of banking instruments exist in Brazil?
Can you implement domestic or cross-border cash pooling in Croatia in local or foreign currency?

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Helping clients with their cash management, we find three specific challenges:

1. Do you understand your bank spend?
2. Do you use spreadsheets to gather information for banking tenders and analyse bank’s responses?
3. Are you able to quickly access Information on what cash management options you have in a country?

1. Do you understand your bank spend?

The challenge is that fees are not invoiced by the bank, nor do banks report fees in a way that make it possible to compare fees charged by two banks on a like-for-like basis.

Once you manage to reconcile the fees, you may find that bank fees are often twice as high as expected and you have used more expensive payment services e.g. CHAPS rather than BACS or had more payment file repairs leading to higher costs.

2. Do you use spreadsheets to gather information for banking tenders and analyse bank’s responses?

Cash managers often rely on spreadsheets for cash management. Therefore, gathering information, e.g. what banking services are used, what volume of transactions exist and what are the current prices, which is needed for a banking RFP can be difficult. Also, the bank RFP process (issuing, responding and scoring) is often undertaken in spreadsheets

PwC have found that there are significant benefits in using data analytics tools Instead of spreadsheets during the bank tender process.

3. Are you able to quickly access Information on what cash management options you have in a country?

When you want to arrange or replace cash management in a specific country, you often have to rely on a multitude of different sources to gather the necessary market insight on things like: what banking options you have, what services are available and how to integrate the country into your existing cash concentration setup.

Based on our experience of working with clients and our extensive insight into cash management around the globe, we developed BankLab to help you reduce your bank spend and optimise banking and cash management setup.

BankLab™ can help in three essential ways:

1. Benchmarking tool

Based on information from previous client projects, BankLab™ can be used to compare the bank charges and costs against the same charges offered for other companies. The tool will enable a breakdown of the existing costs so treasurers will understand where their money is going and whether banks are offering a competitive deal.

2. Project management tool

BankLab™ can be used as the interface between the client and banks throughout the entire bank selection process. For example, it supports the RFP process by acting as one platform to send out RFP requests and then for all banks to enter data where it can be easily analysed and compared on a like for like basis.

3. Global footprint and functional offerings

BankLab™ contains information around the territories that banks operate in, as well as the products and services offered by these banks. This will enable treasurers to save time by identifying appropriate banks to contact even before the RFP stage.