Knowledge is Power: How the Quest for Greater Visibility is Redefining the Relationship between Corporate Clients and their Banks
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(0)Overview: With increasing regularity, today’s corporate treasurers are looking to their banking partners to be catalysts for driving greater strategic value inside their organizations. In order to serve in this role, banks must transform how they interact with corporate clients, pushing aside long-standing, silo-based approaches to products and services, and embrace the role of true ‘partner.’ For banks, the future course is one that no longer emphasizes the collection and aggregation of data, but one in which the analysis, optimization and allocation of liquidity in an increasingly complex global business environment takes center stage. Integral to delivering clarity across payables, receivables and cash positioning services is an enterprise payments hub, which serves to consolidate payments and collections, introducing automation, increased straight through processing (STP), greater working capital management, tighter client integration, and improved control and security around core cash management processes. This whitepaper, authored by Bottomline Technologies’ Suzanne Hurt, explores the changing dynamics of the relationship between corporate clients and their banking partners, and how through the use of an enterprise payments hub, banks can become the consultative partner their corporate clients seek.
