Air Liquide Audits and Optimizes Cash Management Fees Using HawkeyeBSB
Industry
Manufacturing
Region
Europe
Service
Cash Management
Objectives
- Obtain a global view of the cash management services used by the group
- Analyze the performance of cash management activities of newly acquired business in the United States
- Automate the bank fee monitoring process
Results
- A detailed view of 80% of the group’s global bank fees (across 8 banks in 40 countries)
- Ability to detect billing anomalies increased tenfold (anomalies accounted for 5% of total bank fees)
- Streamlined refund process
Methodology
- Automatic integration of bank billing files received from the banks into HawkeyeBSB
- The solution seamlessly mapped and aligned all AFP codes and pricing tables across all accounts, banks and countries
- HawkeyeBSB generated violation reports and highlighted incorrect fees charged by the banks, speeding up the recovery process
Value Added by Redbridge
- Unique database of bank service lines that makes cash management products readable and homogeneous, enabling cross comparison by country and product
- In-depth knowledge of the bank fee structures and respectful approach, which enables a close partnership with the banks during the onboarding process