Straight Through Cash Processing ® for Property Management

A flexible and comprehensive cash management banking solution that enables compliance

CashFac Virtual Bank Technology ® (VBT), is the market-leading cash management and banking technology solution for the property management industry. CashFac VBT connects to any property management system and any bank(s) to automate and streamline all banking and client cash management processes using a mix of actual and virtual accounts in multiple currencies.

Property managers choose CashFac VBT because it

• Increases revenue
• Lowers costs
• Eliminates compliance risk
• Improves client service
• Scales for future growth

Tailored to meet the business needs of the property manager, CashFac VBT enables compliance with RICS and FSA Client Money Rules. Users can streamline cash processing for all receipts and payments and when pooling funds, CashFac VBT provides greater control on how the interest is allocated to the individual accounts.

The exception-based approach to transaction processing allows users to focus on value-added activity.

CashFac VBT's Straight Through Cash Processing ® eliminates the duplication of entries and the errors frequently creates; this saving users a great deal of time. Information is accurate and timely and this ensures a better service for clients.

Features

CashFac VBT provides commercial and residential property management administrators with the following capabilities:

• Enables compliance with RICS and FSA client money rules
• Interest module for tailored client interest
• Automatic daily bank account reconciliation
• Secure and user-specific access rights across multiple locations
• Advanced Transaction Matching and Allocation (ATMA) suggests matches for receipts that lack reference data for automated matching
• Automated payments including: BACS, CHAPS, SWIFT, Cheques and Inter-Account Transfers
• Payment workflow for authorisation with e-mail notification
• Online audit trail for transactions and events
• Event notification
• Reporting and statement production
• Transparency of all cash movements in the property management cash cycle

Screen 1 - This screen navigates the user to the account holders and their underlying account structure.

Screen 2 - This screen is an example of an account’s transaction details.

Accessibility

CashFac VBT can be installed in your office or CashFac can host the service and you can access it via a secure internet browser.

The browser user interface can be rapidly modified for changes to business rules that deliver tailored solutions to fit specific operational practices. Finer control of cash management, banking and accounting events allows property managers to further streamline and automate their business processes. Controlled access can also be extended to third parties such as clients, suppliers, tenants and agents.

Secure

The system has been developed to meet the stringent requirements of the banking sector. It is secure, with multiple authorisation levels, strict access controls and a user-defined rule base. A comprehensive audit trail search is available which presents user identity, transaction status, full transaction details and accounting records.

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