Public sector organisations are under more pressure than ever to reduce operational costs while maintaining services.

Central government, local government and public sector organisations have complex cash operations that require the operation of multiple accounts.

CashFac Virtual Bank Technology is replacing thousands of bank accounts, spreadsheets and off line reconciliation with virtual bank accounts, single funding bank accounts for improved treasury operation and real time, STP reconciliation

CashFac’s flexible cash management systems are already proven to:

• Provide a centrally-controlled single platform for the operation of any number of bank accounts
• Manage virtual bank accounts and real bank accounts in integrated, real time STP
• Replace manual and unreliable cash management systems including spreadsheet-based processes
• Automatically monitor and manage balances including the just in time funding of imprest accounts to create simple and transparent cash flow management
• Deliver a modern, accurate and automated cash management solution that offers a fast return on investment and cost effective operation
• Provide transparent tracking of spend to aid organisations and individuals managing money on behalf of the vulnerable and protecting against false claims and legal challenges
• Allow a public sector organisation to operate around a million accounts with only the same level of risk as operating a single account

CashFac cash management solutions are future proof. No longer do public sector organisations have to allocate considerable resource to build, modify and maintain an in-house system.

CashFac has been providing cash management platforms 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 systems.

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