Serrala and BNP PARIBAS enter global referral partnership
Serrala, the global financial automation and payments software company, and BNP Paribas, Europe’s leading bank and one of the largest banks in the world, partner to offer the Accounts Receivable Automation portfolio of Serrala to broaden BNP Paribas’ services for their customers.
Hamburg, January 18, 2022 – Serrala and BNP Paribas are joining forces to bring a strong value-added AR offering to BNP Paribas enterprise customers around the globe. The bank will offer state-of-the-art technology from Serrala to their customers to help them improve their processes. This extended offering expands BNP Paribas' service level. With Serrala as a new key technology partner, BNP Paribas’ customers will have firsthand access to a strong and innovative AR Automation portfolio, covering the order-to-cash (O2C) lifecycle.
Collecting and applying cash quickly and determining credit risk accurately is essential for any finance organization – whether the processes are executed in regional subsidiaries, or partially outsourced to external service providers. At its core, an efficient and agile AR Automation translates directly into improved working capital efficiency, less financial strain, and hence more discretion regarding business and investment decisions. Thanks to the partnership, BNP Paribas' customers can now easily take their AR automation, respectively O2C processes to the next level to achieve outstanding results and to future-proof business.
The Serrala solutions centralize and streamline inbound payments by efficiently processing incoming orders, automating payment reconciliation, anticipating customer risk, and deploying accurate collection and dispute resolution strategies. Resulting in, for example, reduced collection cost by 30-50%, global cash application automation of up to 99%, reduced manual and repetitive tasks by 85%, or increased collection team efficiency by at least 50%.
“This partnership with Serrala adds another innovative service to our portfolio to make a valuable contribution to our customers. BNP Paribas’s excellent payment processing and reporting capabilities have been recognized by many of our customers in improving reconciliation and reducing operational costs. Accounts Receivables Automation perfectly complements our ongoing developments to provide ever-increasing convenience and control. The AR automation offering from Serrala is differentiated through its depth across the full AR workflow, with market-leading cash application automation rates supported by differentiated machine learning document reading. We can now pass on this technology to our customers to maximize their business impact”, says Dennie Servranckx, Senior Product Manager Cash Management at BNP Paribas.
“We have gone through a vetting process at BNP Paribas and are proud to be selected. After being cited a ‘Representative Vendor' in the 2021 'Market Guide for Integrated Invoice-to-Cash Applications' Report by Gartner, the partnership with BNP Paribas is the next great appreciation of our AR automation offering and fantastic recognition for our continuous focus on innovation and delivering outstanding business results in finance automation”, states Alexis van Audenhove, Vice President Sales EMEA at Serrala.
About BNP PARIBAS
BNP Paribas is the European Union’s leading bank and key player in international banking. It operates in 68 countries and has more than 193,000 employees, including nearly 148,000 in Europe. The Group has key positions in its three main fields of activity: Retail Banking for the Group’s retail-banking networks and several specialized businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients.
Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates, and institutional clients) to realize their projects through solutions spanning financing, investment, savings, and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy, and Luxembourg. The Group is rolling out its integrated retail-banking model across several Mediterranean countries, Turkey, Eastern Europe as well as via a large network in the western part of the United States.
As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group's performance and stability.
Serrala is a leading global innovator in financial software solutions that enable organizations to optimize their financial processes. With nearly 40 years of experience in the industry, Serrala's solutions automate, reduce costs, and improve visibility into cash flow. The company serves over 2,500 clients in over 70 countries around the world. For more information, visit www.serrala.com.
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