Channel Finance & Services
Channel Finance & Servicesserves as a powerful link between a corporate's Supply Chain and its Cash Management activities. It helps the corporate track, monitor and successfully manage its Supply Chain through customized workflows and continuous information sharing. A unique architecture enables Channel Finance & Services to effectively handle both, back-office and front-end processing. While the back-end system includes sub-modules like Workflow Configuration for Client and Dealers/Vendors, Limit Definition and Tracking, Charging for Client etc., its front-end processing system comprises various Supply Chain services and financing options. Besides these, Channel Finance & Services performs a multitude of activities like Querying and Reporting, Purchase Order Upload and Acceptance, Special Payments, Client and Bank Administration etc. In a nutshell, Channel Finance & Services is a comprehensive tool that helps corporates improve work efficiencies and reduce risk to a significant extent.
This solution allows you to effectively manage the domestic and overseas collection process for paper-based and electronic collections of your customers, besides significantly improving inflow predictability. An easy-to-use customer interface provides seamless transaction and workflow management capabilities. Tasks like tracking collections through their life cycle (from pick up to clearing), improving liquidity, providing enriched information for enhanced MIS functioning and ensuring faster availability of credit become effortless activities with this Collections Management solution.
This solution centralizes the entire Payment processing; taking care of salary payments, dividend warrant payments, vendor payments, tax payments, invoice payments etc., thus drastically reducing your customer's operational and administrative overheads. It offers your customers a single window facility that accepts a variety of payment modes across countries. It increases predictability of outflows, meets your customer's payment dates on time and reduces risks of internal fraud.
This module handles your check and receipt reconciliation. You can offer your customers a wide range of services like receipt processing, immediate reconciliation of receipts with invoices, receivables tracking, generating up-to-date information on status of payments received, following up on delayed payments, etc. This means your customer enjoys a shortened mail float, reduced processing time and costs, fast funds availability, an automated accounts receivable update and complete drawer analysis; while you enjoy enhanced income through reconciliation service charges, float on collections, collection charges and charges for information services.
This solution, through its advanced features like notional pooling, priority transfers and interest reallocation ensures you help your customers meet their liquidity objectives effectively. Its portfolio covers services like calibrating inflow and outflows across all accounts, optimizing account balances, exercising greater operational control by cash concentration at a country or regional level, ensuring smooth working capital management, interest/Forex arbitrage and reconciliation and cost/profit sharing between accounts. Through this solution, you can increase the demand for your investment products and cash-in on added fee possibilities through sophisticated charging and revenue sharing arrangements, while attaining the unique position of a reliable cash management partner for your customer.
The Account Reconciliation solution is built to optimize this function through ease of use, speedy delivery and accurate results. Its user-friendly configuration allows you to accomplish a range of tasks like matching of Credits with Debits in the Pool account or any other account, matching Credit/Debit entries in the Mirror/Nostro-Vostro accounts, reconciling accounts between banks or between Head-office and branches and categorizing the unmatched Outstanding/Un-reconciled entries into user defined categories like cheque purchase, floats and un-reconciled etc. In addition, with its proven capabilities in auditing and monitoring functions, this module helps you maintain a log of all system level and user level activities.
UNIQUE AND POWERFUL FEATURES
- Multi-entity, multi-lingual, multi-currency application.
- Flexible presentment options – Invoice, PO in multiple formats, paper and electronic payment modes.
- Multiple financing solutions solutions including definitions of financing, limits and tenors.
- Financing for multiple entities: Dealer, Supplier, Corporate.
- Ability to define specific programs to facilitate availability and delivery of Working Capital.
- Automated reconciliation of Invoices with Payments Invoices with Collections, Invoices with Debit / Credit Notes, Invoices with Pos.
- Automated payment and settlement of transactions Cashflow Forecasting
- Ability to support flexible billing and transaction based Pricing
- Elimination of manual processes through STP @ Source , reduced errors and increased Efficiency
- Ability to generate a wide range of scheduled and on-demand reports through multiple media and alert mechanisms
- Ability to track and manage Credit and Transactional Risks
Benefits to corporate
- Grow your sales, Lower your DSOs, Achieve better customer retention
- Get end-to-end access to capital
- Reduce your receivables processing cost and time
- Improve your cashflow-forecasting
- Streamline your transaction processes and document management
- Get an online view of the entire payment process
- Lower your operational costs
- Improve your DPOs
- Get access to low-cost capital
- Process your payments faster
- Access early payments discount programs
- Improve your cash-flow forecasting
- Get an online view of the entire payment process
Benefits to Bank
- Unleash additional fee avenues
- Avail new financing opportunities
- Increase customer stickiness
- Expand customer base
- Build online networks and relationships
- Manage Risk