 |
Account Analysis Review
In theory, a treasury manager sits down once a month to review bank account analysis statements as they arrive from the banks to check that:
- Bank charges conform to standing agreements.
- There have been no unannounced price increases.
- There are no errors in the bank charges.
- The bank has reversed previously reported erroneous charges.
- Charges are comparable from bank to bank.
- Patterns of service use are steady, or to note changes.
In practice, however, treasury managers rarely have the time to monitor their bank charges month by month. Instead, they tend to evaluate their banks by specific incidents and a cumulative, subjective impression.
This puts them at a disadvantage when they are asked what they pay in monthly bank fees or if they have unresolved issues with bank charges. In fact, they often simply do not know.
Use our experience
This is where TIS can help. After more than two decades of examining account analysis statements from banks all over the country, we are experts at identifying problems quickly. These can include overcharges, per item charges above the norm, questionable items such as charges for accounts that you thought were closed, and inconsistent or inaccurate earnings credit rates.
After our review, we can tell you if your bank fees are in line with the services you use, or not. We may also be able to suggest services to eliminate or to others to add that can increase your funds flow or give you treasury management efficiency.
What are the results?
Often an account analysis review leads us to recommend that our client meet with its bank(s) to resolve the problem items we have identified. We also give our clients a tool they can use to measure bank performance going forward.
Sometimes an account analysis review suggests it is time to undertake a Request for Proposal project. As an RFP is a big project, we will try to suggest alternative ways of handling the issues that have been brought to light by our review. However, when the problems are big and have a negative impact on the organization's cash flows, an RFP may be the only logical response.
|
|
