Cover your short-term financing needs and eliminate the situation where one subsidiary is forced to use its account credit limits while another subsidiary has surplus cash in its account. This diminishes the need for lending altogether, as the net sum of the whole group can be used for payments and investments.
Organizations often work with separate processes in different subsidiaries and separate banks which increases the banking costs. It also decreases transparency and the possibilities for internal payments and financing.
The end result is a tedious month-end closing process that can be reduced with an In-House bank from three days to three hours in some cases.
Create a single and secure payment process for both internal and external payments. Your bank account statements are always up-to-date while reconciliation of internal transactions is fully automated.
Calculating the interest is a standard functionality in an in-house bank. It eliminates the need to process the transitory items for each, internal short-term loan. The interest can simply be calculated and added to the internal account at the end of each month.
Centralized cash outflows significantly improve the safety and control of the payment process as well as mitigate the risk of payment fraud.
All POBO transactions can be automatically allocated and posted to bookkeeping just like external transactions.
Eliminate unnecessary external bank relationships, which gives higher cash concentration and decreases overall banking costs.
Centralizing the cash and collection of receivables at a group level can have a formidable impact on the working capital management of the entire organization. Meanwhile subsidiaries are offered an efficient tool and process for reconciliation and exception management on top of their AR.
If the original creditor can be identified, the reconciliation of the incoming transaction can be fully automated bringing significant efficiency gains.
These accounts can be either owned and maintained by the group treasury, in which case all the account statement transactions are allocated to the correct subsidiary, or they can be owned by the subsidiaries themselves, with agreed daily or weekly sweeps to the group treasury account
Do you need to ensure both visibility and control of your company-wide cash flows and working capital? Are you looking for ways you can achieve treasury centralization? In this whitepaper, we focus on in-house banking as a means to deepen the centralization of your cash management processes.
This factsheet covers the key features and functionalities of OpusCapita In-House Bank solution.
"We have been happy to work on a global project of this scale with such an agile partner."
"We have already saved time and resources that we can now use better in other parts of our operations."
"It is important for Makita to be able to make electronic payments in all Nordic countries and partly also in the Baltic countries so that the suppliers receive reference data."