"Using HawkeyeBSB enables us to increase transparency with our banking partners and is part of Airbus’ long-term goal to continuously improve its banking relationships."
Airbus Enhances Fee Visibility and Control With HawkeyeBSB
Industry
Aerospace
Region
North America
Service
Cash Management
Objectives
- Check whether bank invoices (including volumes and unit prices) are correct
- Increase visibility of the banking services used by its subsidiaries and improve the head office’s understanding of these services
- Use the data from HawkeyeBSB as the catalyst to harmonize Airbus’ fee schedules
- Prepare for future RFPs for bank services using insights provided by HawkeyeBSB
Solution
Actionable insight Airbus can rely on
- Automatic integration of Airbus’ bank files, received via SWIFTNet FileAct, into the HawkeyeBSB tool
- Automatic matching of bank codes with fee schedules, regardless of the bank account, bank, or country involved
- Detailed reporting: Automatic and consistent flagging of discrepancies between expected and actual charges, making it easier to recover any overcharges
Results
Total visibility over banking services and cash management fees
- An accurate view of the overall charges paid to each bank at the group level
- Visible improvements in billing processes and credits issued from the banks immediately after beginning the implementation of HawkeyeBSB
- Accurate identification of billing discrepancies, enabling Airbus to recover overcharges
- Easy comparison of bank charges between banks and countries
Value Added by Redbridge
- An accurate view of the overall charges paid to each bank at the group level
- Visible improvements in billing processes and credits issued from the banks immediately after beginning the implementation of HawkeyeBSB
- Accurate identification of billing discrepancies, enabling Airbus to recover overcharges
- Easy comparison of bank charges between banks and countries