In the evolving landscape of global business, Nordic banks have a critical opportunity to become strategic enablers in corporate cash management. With the operational success of the Single Euro Payments Area (SEPA), including non-EU members like Norway and Iceland, Nordic banks are uniquely positioned to offer streamlined, efficient payment solutions within this framework.
By providing treasury management services that offer a centralized, real-time view of cash flows and transactions, these banks can not only facilitate better cash flow forecasting and matching but also enhance their role in transforming corporate cash management for businesses expanding globally.
This approach not only caters to the complexities faced by corporate treasurers but also capitalizes on the consolidation of common market areas, positioning Nordic banks as pivotal players in the international financial landscape.
Disjointed systems create gaps across various functions—treasury, regional offices, pricing, product management, implementation, billing, settlement, and renewal. The lack of integration hinders a centralized view of the offer-to-bill lifecycle resulting in billing issues.
Enterprises favor banks offering comprehensive cash flow views, superior visibility into balances, effective liquidity management (considering interest rates, contract terms, and payment needs), and robust regulatory compliance.
Banks aiming for a competitive edge must offer end-to-end cash flow views, providing customers with visibility into balances, effective liquidity management, and robust regulatory compliance. This requires banks to capture and process extensive customer data from various sources.
The criticality of an automated offer-to-bill solution cannot be overstated. It equips banks with a holistic perspective on agreements with corporate customers. This facilitates precise and timely billing in alignment with contractual terms while minimizing conflicts and errors. The resulting accurate pricing, billing, and real-time cash flow views empower corporate customers to exercise better control over financial planning, cash flow monitoring, as well as liquidity planning and forecasting. For banks, this translates into delivering a seamless customer experience while minimizing revenue leakage.
Drawing on over thirty years of industry expertise, SunTec provides global banks with an advanced, automated solution that enhances the offer-to-bill lifecycle, crucial for optimizing payments and cash management for their clients. The good news is that SunTec’s transformative approach to revenue management doesn’t necessitate the replacement of core legacy systems for banks. We simplify the process by hollowing out customer engagement functions from the core system and managing it as a horizontal cross-enterprise layer.
This strategy enables banks to swiftly integrate new technologies, incorporate additional features, provide personalized products, and elevate the overall customer experience.
