"Thank you to Redbridge for running a very effective and efficient RFP process and for all of their knowledge that helped drive these results."
- BRMInsight, Cash Management North America
- Audit, optimize and monitor bank fees, rates and services
- Streamline banking services across North America, ideally into a single bank post merger with GTECH.
- Determine relevancy of bank services, benchmark terms & prices, and provide strategy to optimize future processes.
- Identify best practices and synergies within the new combined organization.
- Extensive interview and discovery process of legacy bank relationships and cash management processes by each treasury team
- Translation of current and future needs into a Request for Proposal facilitated by Redbridge to ensure information transparency and clarity for both client & bank needs during the RFP process.
- Simulation of possible bank combinations considering qualitative and quantitative data to achieve an educated decision and stated goals.
- Greater than 50% net reduction in banking fees (after ECR)
- Reduced bank relationships from 3 to 2 credit providers with better share of wallet
- Service level and utilization improved. Paper processes eliminated.
Redbridge’s Value Added
- Significant savings of over 50% through optimizing ECR, service usage, and reduced pricing.
- Bank network consolidated and best practices identified, post merger.
- Harmonized bank fee structure, greater transparency.
- Risks mitigated and share-of-wallet allocation improved.
- Rapid assessment and implementation within 6 months.