Many corporates still use tedious, manual processes to close open invoices by matching them with payments received – providing an ideal opportunity for financial institutions to offer value-add services in the area of receivables management.
Utilising AMFCO unparalleled matching capabilities TLM Accounts Receivable meets a growing market need by enabling banks to provide intelligent receivables management to corporates. The solution integrates with banks’ own internal channels and with corporates’ ERP systems encapsulating middle office services including reconciliations, cash flow forecasting and exception management.
Clients benefit from:
- Streamlined reconciliation across multiple accounts.
- Reduced internal system and manpower costs.
- A reduction in manual errors and the time spent processing exceptions.
- Enhanced, flexible DSO reporting and the ability to alert clients on critical business events.
For the bank, TLM Accounts Receivable delivers:
- The opportunity to diversify the menu of services offered to customers: increasing both wallet share and customer loyalty.
- A true revenue generating opportunity: as clients’ cash flow forecasting improves and funds are used more wisely; also from fees levied from providing the service
- Increased market competitiveness and the ability to service a greater number of clients.