"The Redbridge team were efficient, effective, comprehensive and flexible in providing analysis."

Treasurer
Advertising - Global Fortune 1000

Mandate Type

  • BRM Insight, Cash Management
  • Audit, Optimize & Monitor bank fees, rates and services

Objectives

  • Review services and pricing structure in a complex and decentralized organization.
  • Determine relevancy of bank services for each legal entities.
  • Create awareness in the organization about bank pricing and services.
  • Reduce costs within a core pool of banks.

Methodology

  • Scrutinized 12 months of account statement analysis, benchmarked fees and yield structure. Identified optimizations and implement relevant action plans.
  • Created bank discussion documents (BDD). Engaged bilaterally three incumbent banks. Managed several rounds of mediations. Presented findings on tailored-made and detailed reports.
  • Managed bank agreements and pro-forma guaranteeing the real application of the new bank fee structure. Monitored bank fees for at least three months to ensure precise implementation.

Achievements

  • Identified and eliminated 50 useless or redundant service items.
  • Received credit from two banks on 12 undue or mispriced services over the past 12 months.
  • Reduced gross bank fees by 24%.
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