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A HOLISTIC APPROACH TO YOUR FINANCE PROCESSES.
PERFECTION IN DETAIL.

FinanceSuite eBAM: Release 2.0 with new functionalities

We continuously develop our products in order to provide the right features for you and to adjust the programmes to current requirements and new regulations. As of now, FinanceSuite eBAM release 2.0 is available. In addition to the optimisation of existing functionalities, this release focuses on new features. They include:


Bank Performance Analysis (BPA)
This feature enables an automatic analysis and reconciliation of bank fees. It is verified

  • whether the fees calculated by the bank correspond with the fees that were agreed upon,
  • whether agreed discounts were actually granted,
  • whether possibly excessive fees were charged.

In this process, FinanceSuite eBAM determines the estimated fees and then compares them with the actual bank invoice. The information is automatically imported from the bank statements. The following formats are supported:

  • ISO 20022 <camt.086.001.01>
  • TWIST BSB 3.1 XML Messages
  • (US) Format Ansi x.12 822 (“Bank Analysis”)


Furthermore, the module Bank Performance Analysis (BPA) of the FinanceSuite eBAM supports the following items due to its intelligent features…

  •  Dispute management, e.g., in case of overcharging
  • What-if analyses to create scenarios
  • Comparisons between banks or between specific accounts
  • Trend analyses by company codes, regions, countries, etc. for planning of future bank fees
  • An electronic archive of bank statements and simple tracking of statements and specific items

 

Bank Account Reporting (BAR)

This functionality allows the automatic reporting in compliance with the Foreign Bank Account Reporting (FBAR) and is relevant for signatories and organisations in the US that are signatories and/or account holders for accounts outside of the US. If the total of approved amounts exceeds $ 10,000, these accounts have to be reported to the Internal Revenue Service (IRS) in the US. With the new functionality of FinanceSuite eBAM, this is now performed automatically. The required master data are consolidated and the corresponding report fields in report TD F 90-22.1 are filled automatically.

Multiple digital signatures are now possible with FinanceSuite eBAM. You can add multiple digital signatures instead of only one to ISO20022 acmt.0XX.XXX.XX XML messages and corresponding attachments. FinanceSuite eBAM supports the digital signatures of 3SKey, IdenTrust and others.

Customisable Fields (CFI) allow the enhancement of data fields and, if needed, you can define your own data fields. This allows you to adjust FinanceSuite eBAM even better to your specific requirements. 

You would like to learn more about these and other functions of FinanceSuite eBAM 2.0? Contact us! We will be happy to introduce the benefits of the solution to you.