Product Factsheet

Bank Account Management

 Achieve Global Control & Visibility Over Bank Account Data

TIS’ Bank Account Manager (BAM) serves as the single source of truth for clients as they manage their global banking, payments, and data workflows. Organizations can effectively use TIS as a central repository for all of their bank account information and related master data across all connected systems, including ERPs and TMSs.

As an essential component of our Enterprise Payment Optimization (EPO) Platform, TIS’ bank account management capabilities enable clients to easily perform core functions such as tracking open and closed accounts, assigning and managing account signers, and storing unique banking information. In addition, TIS also offers customization to define fields and workflows. Data inventory processes, for example, can be started anytime the customer requests and on a regular basis to ensure responsible users can keep all the data up to date. The inventory processes can be set on company, region, or legal entity level. And for reporting, the data in BAM can be automatically leveraged for other functions in TIS, such as reporting on the associated account balances for expedited analysis.

Access Flexible & Intuitive BAM / eBAM Tools

One of the primary benefits of TIS’ BAM is the flexibility offered to users in how they structure their workflows for bank account management and master data maintenance while also staying compliant with global and local regulations. For example, an “n-eyes” principle can be configured for making changes to master data at a global, regional, or entity-level, as well as for creating, updating, closing, and deleting bank accounts.

Data from the connected banks and bank accounts in BAM can be viewed via a single interface in the Bank Statement Manager. The dashboard is customizable and provides users with full visibility to bank account data and balances on a global scale, as well as granular analyses for reviewing the data behind any specific account, currency, country, or business unit. Clients can also create custom bank groups to view their account structure by region, currency, or otherwise, and can assign multiple signees over each account or account group as internal protocols dictate.

The result of these interfaces is that global account data, cash positions, and cash flows can be viewed faster and more reliably with just a few clicks of a button. This provides tremendous upside compared to excel-based BAM solutions or the use of numerous e-banking portals, especially from an automation and accuracy standpoint.

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