Need help simplifying your bank fees into standardized and transparent insights?
Bank fees and bank fee monitoring have been a significant pain point for corporate treasury for decades. There have been many solutions offered over the years that have provided a level of visibility into bank fees.
As treasury has become more global, the complexity of bank fee statements has grown exponentially. Discover precision with our bank fee analysis software, HawkeyeBSB.
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Advanced bank fee analysis software to help you decode complex cash management services and complicated bank billing statements
Skilled treasury professionals often miss savings, hindering financial clarity and business goals.
You may be facing:
- Understanding Obscure Expenses: Trying to interpret bank billing statements while deciphering cross-border payment costs can lead to confusion, hindering precise bank fee comprehension.
- Missed Savings Opportunities: Skilled treasury professionals often overlook potential savings, with up to 10% of bank fees billed in error. By discovering these discrepancies it can lead to substantial cost reductions by the team.
- Financial Clarity Hurdles: Lack of transparency not only affects financial clarity but also poses an obstacle to achieving crucial business objectives when it comes to banking partners.
Bank fee analysis software ensures total transparency, streamlining accurate bank billing record-keeping
With over 20 years of experience, Redbridge is a trusted expert in bank fees. We’ve designed HawkeyeBSB for easy data analysis, aiming for every moment spent in the application to be one of analysis, not database maintenance or file management.
Accessibility
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Access reliable data on your global use of cash management services.
HawkeyeBSB transforms the account analysis statements from all of your banks, regardless of the format, into a reliable, standardized view presented in a harmonized way.
Any machine-readable statement format can be captured:
- EDI 822, TWIST BSB, CAMT.086 BSB, CSV, PDF
Clear and transparent information on the cost of cash management:
- Automatic integration of all bank billing statements
- Comprehensive mapping of each item charged, based on AFP Domestic and Global Service Codes
- Single user-friendly platform
- Captures any number of currencies, countries, accounts, banks and services
Accountability
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Identify and correct all billing violations.
Validate every service, price, volume, charge and rate to an established baseline.
Bank fee analysis software like HawkeyeBSB will verify every element of your bank fee statements and identify every billing violation, speeding up the recovery of incorrect fees.
It is common to find 10% or more in billing errors every month.
Banks bill more than $500 billion annually in service charges. Many of those charges simply go unverified. A control minded treasury needs all the tools possible to decipher the complicated statements produced by banks.
HawkeyeBSB spots:
- Price errors
- Volume errors
- Rate errors
- Calculation errors
- Inconsistencies
- New services added
- New accounts added
- Dormant accounts
Identify potential discrepancies:
- Quickly identify all discrepancies on your bank fee statements
- Easily make decisions on the handling of each identified discrepancy
- Swiftly notify your banks of required corrections
Rectify, monetize:
- Automatic notification to inform your banks of all billing violations
- The fully automated “Hawkeye Report” lets you quickly and easily report excess charges and other bank statement errors to your providers
- Streamlined processing allows you to receive the full refund without spending a lot of time
Visibility & Predictability
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Knowledge is power.
The rich data provided on bank billing statements gives a lens into all aspects of your company’s cash management engine. Bank fee analysis software like HawkeyeBSB uses this data to give you key insights.
Precisely measuring consolidated bank charges is key to:
- Model and predict future bank fees
- Plan for business expansion
- Strengthen your negotiating position
Compare the cost of banking services worldwide:
- Bank by bank
- Entity by entity
As HawkeyeBSB accumulates your bank fee statements over time, the performance of your treasury operations comes into focus. Virtually every cash management function you have performed with your banks lands on the account analysis.
By standardizing and organizing all of this information, you gain the ability to evaluate the effectiveness of your treasury practices. In the same light, with a strong baseline of what has happened, HawkeyeBSB can then model and predict the impact of future treasury operations on your bank fees.