Improve multicurrency collections and receivables management with virtual bank accounts

Are you looking to shorten the timeline and increase the accuracy of your collections and receivables management for your firm or its clients? The right partner could help you streamline this complicated process.

The management of collections (cash receipts) has always been a challenge for financial institutions and other organisations.  Managing high volumes, having difficulties identifying payers or payees, controlling under/over payments, and monitoring all other steps in the process can make cash processing for clients incredibly complicated. Once you introduce the added hurdle of foreign exchange, the difficulty level and room for error greatly increase. 

Financial institutions looking to improve this part of the client experience have found success using multi-currency/multi-bank virtual accounts and cash management platforms to automate and increase the efficiency of cash management operations.

Download this free whitepaper from Cashfac, a global leader in cash management and Virtual Account Management (VAM) solutions, to learn how multi-currency and multi-bank virtual accounts platforms can increase accuracy and efficiency of your cash management and banking operations, improving customer service and cash flow.

Get your copy now and gain insight on:

• Accounting and managing cross-currency settlement and passing through a foreign currency payment
• Cross currency sweeping and netting exposure
• Management of liquidity and treasury pooling in a multicurrency environment