"The software was easy to implement and designed with the end user in mind. These features made the process easy and the results were exactly what we needed to monitor our internal cash management."
Engagement type
- HawkeyeBSB – Internal Cost Allocation
Background
- Uber operates in more than 70 countries, generating over $10 billion in sales in the last 4 quarters
- Incurs over $50 million in bank fees to manage its payments and collection operations, excluding credit card fees
Objectives
- Collect and measure the total costs of Uber’s cash management operations globally
- Allocate costs to decision makers via management reporting
- Identify primary drivers for cost and inconsistencies across regions and banks
- Discuss findings with the banks
- Monitor and ensure improvements are realized
Achievements
- Visibility into cash management fees in 63 countries
- Easy monthly process to complete internal cost allocation reports for management
- Focused negotiations with banks and reduced global costs by helping Uber’s team answer questions like, “What are the top 10 services we are paying for at each bank?”
Value added by Redbridge
- Help in gathering and correcting bank files received from the banks
- Expertise in mapping the services to the industry standard
- Custom service line tagging assisted with the easy identification of partner payments