"I am impressed by the HawkeyeBSB tool in terms of functionality and ease of use. The Redbridge team has provided Ricoh with outstanding support during implementation, training and on-going monitoring. "
Engagement overview
- Implementation of a Cash Management Fee Analysis and Monitoring tool – HawkeyeBSB
- Global scope (32 countries)
- 8 banking groups
Objectives
- Automate the bank fee monitoring process.
- Monitor agreed pricing grids and ensure alignment in bank invoices including volumes and unit prices.
- Better tailor bids for future bank services.
- Substantiate bank discussions with evidence.
- Monitor and ensure agreed improvements and adjustments are realised.
Results
- Clear view of total charges paid to each bank.
- Visible improvements in billing processes and rectifications from the banks as soon as the implementation phase was launched.
- Billing errors accurately identified and corrected.
- Facilitates easy comparison of bank charges between banks and countries.
- Visibility into cash management fees in 32 countries.
Methodology
- Automatic integration of bank billing files received from the banks into the system.
- This solution automatically matches bank codes with fee schedules, regardless of the bank account, bank or country involved.
- Construction of pricing grids (28 combinations) based on the negotiated banking condition catalogues and the standard conditions of the new services.
- Reporting: HawkeyeBSB automatically and consistently flags discrepancies between expected charges and those that have been invoiced, making it easier to recover undue charges.
Value added by Redbridge
- An open, easy-to-use and user-friendly tool of bank service lines making Cash Management products readable, homogeneous and enabling cross comparison by country, product, etc.
- Diligent support during the implementation phase and providing expertise in the operation of bank charges.
- In-depth knowledge of the bank fee structure and respectful approach, enabling a close partnership with the banks during the onboarding process.