CASHOPTIX SOLUTIONS
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BANK STATEMENT MANAGEMENT

Automated & Efficient Bank Statement Management

Effortlessly Receive & Transmit Bank Statements Across Your Global Network

TIS can receive statements from any of an organization’s banking partners or account structures globally and automate their transmission to any back-office ERP, TMS, AP, or similar system for streamlined reporting and data analysis. TIS can support the transmission of statements in any format, including FIN messages (e.g. MT940) as well as ISO 20022 messages (e.g. CAMT) and other regional or legacy variations.

The receipt and collection of these statements ultimately helps facilitate globally automated cash reporting, reconciliation, and other important tasks for our users and clients.

Automated Format Translation

enables seamless reformatting of message types to suite the preference of the sender or receiver, including for SWIFT MT, ISO 20022, and any regional or bank proprietary options.

Global Statement Aggregation

via automated connectivity across your global banking relationships for easy management, reporting, and analysis of data through a centralized and unified cloud platform.

Streamlined Back-Office Reporting

via configurable integrations with ERPs, TMSs, and other platforms so that all stakeholders – including accounting, treasury, finance, and even the CFO – can quickly and easily get the information they need.

ERP, TMS, & Bank Integration

functions are managed by our in-house team of experts along with a specialized group of onboarding partners to ensure clients are never overwhelmed by complex IT tasks.

Simplified Bank Connectivity

can be configured for each bank relationship via any diverse range of options, including SWIFT, EBICS, API, SFTP, and more! Today, TIS actively maintains 11,000+ bank connect options.

Gain Global Visibility

and same-day or near-real-time control over bank statements to facilitate improved reconciliation, financial reporting, and cash positioning functions without an overreliance on Excel or individual banking portals.

Award-Winning Banking Capabilities

TIS bank connectivity, account management, and statement management solutions are actively leveraged by numerous Fortune 500 companies, many of whom have been recognized through recent industry awards ceremonies for their ability to streamline connectivity, automate reporting, and enable global visibility and control.

The Archroma Project

Archroma’s treasury team uses TIS as a direct replacement of their formerly disparate setup consisting of 15+ e-banking tools.

The ContourGlobal Project

See how ContourGlobal’s treasury team used TIS to complete a comprehensive bank connectivity project involving 60 banks and 800 accounts in under 9 months.

The Encavis Project

Encavis adopted the TIS platform in order to centrally manage their large portfolio of globally distributed bank accounts.

Frequently asked questions (FAQs) about our Bank Account Management (BAM) & Bank Statement Management solutions

The TIS team regularly fields questions from CFOs, treasury, and finance practitioners regarding the use of our bank account and bank statement management solutions. More information about components related to configuration, setup, reporting, integrations, and more are covered in the FAQs below. We encourage you to contact our team with any additional questions to ensure you understand exactly how our solution can be applied in your unique environment.

TIS is the industry leader in helping organizations develop a simplified and streamlined connectivity structure. Ultimately, we enable companies to achieve complete unification between their back-office systems and their banking environment. With more than 11,000 SWIFT bank connect options, 2,700+ direct connections, and a host of APIs and plugins, TIS enables organizations to achieve global cash visibility and control regardless of their complexity.

With our bank statement management service, TIS has developed a solution for all organizations to automate their global bank statement collection and aggregation workflows. The statements are transmitted end-to-end straight through the TIS platform for direct reporting within client TMSs or ERPs. Today, this solution is capable of managing FIN messages (e.g. MT940, MT942) and ISO 20022 formats (CAMT), as well as other regional or bank-specific formats.

TIS can receive statements from any of an organization’s banking partners or account structures globally and automate their transmission to any back-office ERP, TMS, AP, or similar system for streamlined reporting and data analysis. TIS can support the transmission of statements in any format, including FIN messages (e.g. MT940) as well as ISO 20022 messages (e.g. CAMT) and other regional or legacy variations like BAI / BAI2. The receipt and collection of these statements ultimately helps facilitate globally automated cash reporting, reconciliation, and other important tasks for our users and clients.

As a separate but closely related service, TIS’ SWIFT Statement Collection solution lets organizations that are not SWIFT members use TIS to receive their bank statements (MT messages) in an automated and centralized way from all banks that are connected to the SWIFT network. The feature requires only the set-up of a standing instruction with the bank, and no complex legal documentation is needed. This feature is available as an add on for CashOptix customers or as a standalone solution.

Treasurers, CFOs, and finance teams are the main parties that benefit from our bank statement management solutions, but the advantages can also be felt across other departments including accounting, AP, HR, and more. This is because TIS can provide granular insights related to payments and cash positions that all departments can leverage to enhance the accuracy and efficiency of their reporting workflows, which also improves their ability to strategically plan business operations.

Today, the main benefits of our bank statement management solution include the straight-through-processing of statements between banks and back-office systems, as well as the ability to seamlessly reformat statements into any standard required by the recipient to automate its receipt (i.e. SWIFT MT to ISO 20022, or vice versa). In addition, TIS provides real-time insight to bank statements and enables users to create customizable dashboards in our platform for viewing statement data according to their own preferences and structures.

Today, companies of all sizes, locations, and states of maturity leverage the TIS bank account and statement management solutions. This includes companies like Encavis, Archroma, and Circor, as well as other companies like CoreState Group and Mann+Hummel. The TIS BAM solution is designed to function seamlessly with a broad variety of company infrastructures so that it can be compatible with most internal back-office and banking configurations, including for numerous ERPs, entities, and diverse bank connectivity options. You can browse specific client success stories as they relate to TIS BAM below.

TIS leverages an innovative maturity model when onboarding new customers so that our solution can provide the exact level of automation and support needed at each stage of company growth. While some companies are leveraging numerous banking portals and need helping rationalizing these portals into a single system for unified visibility, others are already dealing with a complex ERP landscape and need to consolidate data across all these systems into a single solution to better manage statements and reporting at the global level. But regardless of which stage of maturity your company is at, our solution will integrate and conform to your setup to support your workflows as necessary to drive greater accuracy, efficiency, and automation across all your banking relationships in a secure and compliant manner.

Not only does TIS help connect to all of your required banks and bank channels (SWIFT, EBICS, SFTP, etc.), but our we also manage message format compatibility and translation as a standard service. This means that regardless of what unique formats your banks or back-office systems require, TIS can ensure the smooth and seamless transmission of all statements globally so that a lack of compatibility never hinders visibility or automation.

For companies with limited treasury and IT bandwidth, our ability to manage the majority of bank connectivity and back-office configuration tasks, including message reformatting and transmission, is a huge relief for internal teams. These outsourced services are ultimately where much of the ROI is achieved during onboarding, and our experts’ technical prowess ensures that the solutions are structured efficiently the first time, so that upon go-live, clients have exactly what they need to become more automated and controlled.

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