Unlock bank fee potential
If you’re using Kyriba, you know the benefits of having your data in one place. It’s a one-stop-shop to view and categorize your bank fees, which automatically feed into the module via electronic statements. It’s all the data you need, right at your fingertips. But how are you using it?
Usually, that’s relying on standard reporting to compare expected service prices to their actuals. We’re here to offer a different way—where, with a few clicks, you can identify trends, significant cost savings, and make managing your banking services and relationships a breeze. Here’s how.
- Phase one: Arming you with data
Our proprietary dashboard leverages Kyriba’s Bank Fee Analysis module to provide a monthly extract of banking services, balances, and fees. It integrates seamlessly into Microsoft Excel with pre-built tables and visualizations for immediate analysis into your prices and expenses. It also enables your teams to:
- Perform and document month-over-month, month-over-quarter, and year-over-year due diligence
- Evaluate expenses across banks, legal entities, and accounts—finding erroneous charges
- Drill down three levels for each service charge based on industry standard and bank-provided descriptions
- Deliver executive reporting that highlights wallet allocation, expense trends, and expense drivers
- Monitor net earnings credit rates and allowance utilization
- Embrace an easy to maintain solution without the need for IT support
- Phase two: Actioning on our insights
Our team has been on both sides of the equation as industry practitioners and consultants. We know why and how banks operate, the way they look at costs, and how they structure their pricing. Even after delivering the dashboard, we’ll keep building momentum and ROI, combing through data to find quick savings and actionable suggestions, including:
- Recommending more cost-effective banking services that better leverage automation
- Flagging redundant or overlapping services, particularly after a TMS implementation
- Reconciling stated service volume compared to bank statements and other sources
- Collaborating with your banks to drive savings and reasonable pricing
Connect with us
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