Bank Account Management

Central Control Over Your Bank Accounts, Signatories, Bank Fees and Reporting

Is opening and closing bank accounts a long and cumbersome activity in your company? Do you have a real-time overview of who is authorized to sign for which type of services at your banks and to which applicable limits? Do you know how much you pay for your bank fees and whether they are in line with the agreed terms? Finding an answer to these questions can be a complex task, when important information is stored in various databases, paper documents, spreadsheets or even in individuals’ heads.

Serrala helps you bring clarity into your bank account management.

We provide you with the solutions you need to maintain a central overview of who in your organization is authorized to approve payments to which level, to know how much your banks are charging you and to simplify the reporting according to FBAR guidelines. We help you reduce risks and already today support electronic messaging with XML for opening, closing or changing bank accounts.

Discover your possibilities with our fully SAP-integrated solution FS² eBAM.

 

Thumbnail
Thumbnail

Bank Account Management and Bank Fee Analysis

  • Bank account management: configurable workflows for opening, closing, modifying accounts, and managing signatories
  • electronic bank account management: Simplified standard communication with banks, paper-based or via e-mail, with easy templates and processes (BAM) and supporting new electronic messaging with banks via ISO 20022 XML (eBAM)
  • FBAR reporting: enabling automated filling of FBAR reports 
  • Bank fee analyis: automated analysis of bank fees, forecasting, dispute handling etc. leading to a reduction of bank fees through overcharges by 15%
Thumbnail

Benefits of Bank Account Management

  • One system and source of truth 
  • Streamlined account management process: better control and transparency
  • Improved operational performance, predictability, and straight-through-processing
  • Risk mitigation on business critical processes
  • Simplified structures and workflows for bank account and signatory management
  • Greater business agility and sustainability by complying with audit, corporate, financial and government reporting
Thumbnail
We already have the eBAM solution (of Serrala) but we will only have true eBAM when the bank account opening, closing and changing process is fully supported by banks in an electronic manner. This is what all corporates and banks need to work on.
Cornelia Hesse

formerly Head of Cash Management at BASF Services Europe GmbH

Further Reading

Thumbnail

Success Story: BASF

Bank Account Management

Reducing complexity, paperwork and the time-consuming and risk-laden nature of manual Bank Account Management.

Read Success Story
Thumbnail

Whitepaper: The Quest for full Cash Visibility

Achieving an accurate overview of current and future cash positions and flows.

Download Whitepaper
Thumbnail

Cash Visibility Brochure

Achieve Enhanced Cash Visibility and Enhance Working Capital Management with a Uniquely Comprehensive Approach

Download Brochure