Groups waste significant amounts of time due to current banking processes:

  • Filling in paper forms
  • Dealing with large volumes of scattered documents and information
  • Time-consuming requests for information from subsidiaries
  • Manual tracking of changes made to accounts,
  • etc.

These repetitive bank account management tasks, which often lead to errors being made, information being lost, or additional costs and financial risks being incurred, currently force treasurers to turn their focus away from other, more strategic, work.

In order to mitigate these daily difficulties, DataLog Finance has developed a dedicated eBAM (electronic Bank Account Management) module for CashSolutions, giving groups the possibility to centrally manage all bank accounts electronically, from opening to closure and maintenance.

Bank Account and Delegation eBAM Management

The eBAM module for the payment factory CashPooler gives a unified and coherent view of management activity for all group accounts, notably via reporting and statistics (available globally, by bank or by subsidiary, etc.).
Contracts and agreements made with banks are grouped together in one place making banking procedures clear and predictable leading to better work-load management. The module makes it quicker to deal with and respond to requests made to banks, helping cut and better control costs.

Introduction to CashSolution eBAM module

DataLog Finance now offers major groups the ability to manage every type of mandate for each different cash flow, signature mandates and the associated settings within one tool (CashSolutions) using the eBAM module. The module also gives heads of finance, legal departments and internal auditors an overview of the mandates within the group and access to instant and reliable reports making the optimisation of internal procedures easy.

The CashPooler module offers 2 electronic bank account management methods to suit your group’s procedures and your bank’s policies:

  • traditional method (banking documents partially digitised)
  • eBAM SWIFT method (100% digital communication with banks using the SWIFTNet network)

All bank data, as well as contracts and terms and conditions of sale are archived in CashPooler whose workflow technology automates the account management process and facilitates exchanges with banks both electronically and on paper.

With the traditional method, the module generates letters in the format requested by the banks and alerts managers to any changes made to a mandate.
With the SWIFT method, CashPooler implements all the network’s electronic bank account management features in the network:

  • bank account creation, maintenance and closure
  • delegation of authority
  • mandate management
  • other usual banking account processes

These 100% digital, automated processes help both groups and banks drastically cut costs and gain efficiency.

eBAM Module Features

Settings and Bak Processes

the eBAM CashSolutions module now manages the following as standard for the whole group:

  • banks and bank accounts
  • delegators and delegatees
  • companies
  • different types of delegation
  • thresholds
  • delegation start and end dates
  • structured and secure document base composed of contracts, correspondence, and standard and customisable letter templates (signatures, logo, etc.)
  • automatic generation of documents, letters and emails and distribution by SWIFT or directly to banking partners
  • data access delegations
  • centralised repertoire of account data
  • generation of audit reports (action tracking)
  • (customisable) notifications and change tracking on accounts

Assets of CashSolutions eBAM module

Among  the various features of the module can be found:

 

Available in self-hosting or SaaS (Software as a Service), the CashSolutions eBAM module is fully integrated in the range (only one database) and interoperates with your upstream and downstream applications.