Today’s corporate treasury require reliable real-time cash data and a high level of automation to carry out their extended role as the board’s strategic advisor. SAP Fioneer’s Virtual Account Management (VAM) delivers concentrated cash insights, automated reconciliation and a range of self-service capabilities that can scale and flex as their demands evolve.
Offering modern cash management will result in
growth in average revenue per customer
reduced Total Cost of Ownership (TCO)
conversion for winning new mandates
self-service customer journeys
SAP Fioneer’s Virtual Account Management (VAM) empowers corporate banks to deliver real-time cash visibility, automation, and self-service capabilities for independent and flexible account management – meeting the evolving needs of corporate treasury. With seamless integration and rapid deployment in under 120 days, VAM can efficiently increase corporate client satisfaction, win new cash management mandates and grow deposits.
VAM offers detailed, account-level insights without the cost and rigidity of physical accounts. With just one physical master account, it’s simple to automate replication of transactions and payments to virtual accounts using unique IBANs or ID references in real-time. Meanwhile the notional pooling feature consolidates funds automatically and in real-time.
VAM uses virtual IBANs for seamless receivables reconciliation and automatic payment reference matching. A flexible mechanism allows configurable routing for countless replication scenarios, while misdirected payments are sent to a suspense account where AI-driven clearing assists the necessary manual reconciliation.
VAM offers highly flexible, multi-level account hierarchies to mirror every unique organization as it evolves. Customization also extends to virtual account structures to precisely address the operational requirements and account conditions such as interest conditions. Virtual account group management is also available with group limits and combined settlements.
VAM enables corporates to have full control with effortless account creation, edit and closing, and custom routing rules for exact cash allocation. The bulk upload feature also enables seamless use of invoice and payer data to update the account structure as needed.
VAM is the single interface for corporates to manage their cash, with all channels seamlessly integrated with pre-configured processes for an intuitive user experience. On the one solution, treasuries have a consolidated view of all entities under one master account, automatic tracking to monitor inter-company transactions and access to intra-company flows to optimize working capital.
“Virtual account management offers endless possibilities […] from mimicking company structure […] to account reconciliation.”
Central Product Owner, Global Cash Management at ING
In this webinar on demand, we delve into the current trends and challenges in corporate banking, the transformative potential and benefits of VAM, experiences from ING in implementing virtual accounts.
Strong cash management is a sign of resilience but corporate treasury needs have evolved significantly. Learn the 7 signs that your cash management solution is due an upgrade.
Physical accounts are expensive and remain too static in today’s agile corporate world. Learn how virtual accounts provide more visibility and flexibility to the changing landscape of corporate clients.
Corporate banks need to stay relevant and meet the evolving demands of their clients to avoid the risk of being replaced. Learn how the world’s top banks use Virtual Account Management to enable innovation for their corporate clients.
