Professional and business services operate many bank accounts over a wide area of multiple operational teams. These accounts are used for distributed cash collection, imprest-funded operating units, multiple products and income sources, and clients whose monies are administered subject to client money/controlled money regulations. Often these operations are commercial; sometimes, as with care services for vulnerable adults and children, the operation of many bank accounts is an essential workload of an critical social function. The operation of multiple bank accounts is a product of size, specialism, control, regulation and care.

CashFac cash management solutions provide a single platform on which the centralised finance function can support wide area cash management operations according to consistent control. It provides flexible workflow oriented user interaction that suits the different way of working of distributed teams. All the bank accounts, sometimes many thousands, are automatically managed and monitored. CashFac also integrates corporate treasury management solutions with client in-house systems.

CashFac is a fully developed bank-approved cash management platform for complex cash processes that provides integrated electronic bank account management and virtual bank accounts. It is already powering electronic cash flow management for around 150 businesses and public service organisations in connection with multiple banks and in multiple currencies. CashFac cash management solutions are available from CashFac’s partner banks as well as directly from CashFac.

Depending on how they are deployed, CashFac’s flexible cash management products are already proven to:

• Automatically manage large numbers of bank accounts on a single platform, including the management of balances, high volume collections and payments, multiple currencies and multiple bank connections
• Enable the central finance function to set up and monitor wide area cash management operations with a mix of collections accounts, operating unit accounts, imprest accounts, client accounts and subsidiary accounts
• CashFac’s workflow adapts to the processes of the different units and service providers with scalable processing capacity (handling millions of transactions), variable transaction processing and cash flow management with single step transaction and accounting, advanced allocation and reconciliation functions for high volume collections, real-time accounting records, adaptable organisation and authorisation structures, remote digital signatures, real-time balance monitoring and balance management
• Connect to product, client, service, accounting and payroll systems with real-time APIs
• Automate account opening and account management, with central control
• Allow unlimited virtual bank accounts to replace unwanted bank accounts and to provide granular client and care services
• Automate cash management systems lower operational costs and reduce errors
• Improve transparency and support real-time operations to produce better risk management and more accurate financial data
• Simplify operations by reducing the number of bank accounts a corporation has to operate
• Meet compliance requirements across multiple countries, jurisdictions and currencies

CashFac cash management solutions are future proof. No longer do professional and business services organisations have to allocate considerable resource to build, modify and maintain an in-house system. CashFac has been providing solutions in partnership with banks for over 15 years and has over 200 man-years’ experience in planning and deploying banking software solutions to sit seamlessly alongside existing financial and corporate treasury management systems.

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