Kyriba Bank Fee Analysis dashboard and advisory

Project overview and objectives

One company came to Clearsulting hoping to better analyze its bank fees and maximize its yield on available cash. The company was already using Kyriba’s Bank Fee Analysis (BFA) module, but its bank services and service pricing had fallen out of date. Their team had also lost technical knowledge of how to course correct, and that’s where we stepped in to help:

• Redeploy the BFA module with comprehensive services and accurate pricing
• Deliver a 13-month dashboard detailing bank services and fees across three cash management banks
• Identify opportunities for bank service rationalization and fee reduction
• Facilitate opportunity realization by directly and indirectly supporting client negotiations

What we did

With visibility and cost savings as the goal, we collaborated closely to:

• Leverage Clearsulting enablers to revamp the BFA module at scale, which were later provided to the client along with training on how to self-scale future builds
• Resolve all contract-to-actual service price variances via bank outreach, immediately realizing value where inaccurate or inefficient prices were identified across specific companies and accounts
• Review fee trends across banks, companies, and accounts at multiple levels of granularity

Impact

With the dashboard in hand, the team:

• Realized over $375,000 in annualized savings to date with an incremental $1M of opportunities under review or in process
• Identified 28 opportunities to use more favorable unit pricing based on benchmark or internal pricing data, totaling an estimated $175,000 in annualized savings
• Provided net earnings credit rates (ECR) benchmark analysis to increase interest earnings/earnings allowances and optimize cash management strategies
• Used the newfound service and pricing visibility to promote organizational awareness of key expense drivers and incremental costs of certain business practices

Want to see similar results for your organization? Explore our services and how to unlock your bank fee potential.