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Next-genclientintegrationservices
Akeytoincreasingcorporatecashmanagementclientsatisfactionandgrowth
2
Inbrief
•Today,corporatecashmanagementclientsdemand
samelevelofdigital,flexible,andreal-timepaymentsservicesasdoretailclients.Bankscanleadwithworldclassclientintegrationservicesthatcanplayakey
meetingheightenedproductandserviceexpectationscorporateclients.
•Adiscussionofcomprehensiveandeffectiveclientintegrationservicesisaccompaniedbyalistof
strategicrequirements.
•Aroadmapfortransformingclientintegrationservicesisproposed,includingsixpriorityareasandpossible
actionsteps.
the
-
roleinof
Capturingthecorporatecashmanagementopportunity
Corporatepaymentsnowrepresentabiggerbusinessopportunitythandoestheretailpaymentsarena.
AccordingtoCapgemini’s
WorldPaymentsReport
2023
research,commercialpaymentsnowmakeup
nearly56%oftotalpaymentsindustryvalue,whiletheretailpaymentssectoraccountsforonly44%.Globally,morethanoneintwopaymentexecutivesagreedthatcommercialpaymentsofferbetterprofitpotentialthanretailpayments.
Butwiththebiggeropportunitycomebigger
challengesforbanksandothertraditionalpaymentservicesproviders.Corporatetreasurershave
newandincreasingexpectationsbecauseofthe
digitalizationoffinancialservicesaswellastheirownbusinesspressures:enterpriseclientsrealizethey
mustelevatetheirfinance/treasurycapabilitiesto
helpbuildresilienceandnavigatevolatility.Andwhenitcomestoavailingcashmanagementandother
treasurymanagementsolutions,theywantwhat
theycangetintheirpersonalfinanciallivestobetrueintheirbusinessrelationships,too–includingreal-
timeaccesstoaccountinformation,bundledaccountviews,transactionspeedandflexibility,personalizedoffersandspecialservices–andsothedemandsandexpectationsfromtheirpaymentprovidershavebeenontheriseandareavisibleandpersistentgap.
Inresponse,banksandprovidersneedtoshifttheir
viewofcorporatecashmanagementclientrelationshipsfromaproductlenstoamoremeaningfulrelationshiplens.Today,truecustomercentricityisasimportantonthecommercialsideofthepaymentsbusinessasitisontheretailside.Imperativesinclude:
•Developcustomerintimacywithcorporateclientswithtailoredproductsandservices
•Streamlineandsmoothentheclientonboardingjourneyandensureconsistencyinallclient
interactions,acrossfinance/treasuryroles,
thatfollow
•Enablemorecontrolbyincreasingself-servicecapabilities
•Simplifybank-to-enterpriseconnectivity
•Betteraddresscorporateclients’needsincluding
makingreal-timemoneymovementandcash
reportingareality,acrossdimensionssuchasAR/AP,markets,currenciesandbusinessmodels
Clientintegrationisanintegralpartofrealizingallofthesepriorities.
3
What’smeantbyclientintegrationservices?
Simplyput,clientintegrationservicesforcorporatecashmanagementrefertospecializedservicesandsolutionsthatstreamlineallinteractionsbetweencorporate
clientsandtheirbanksorpaymentsproviders:deliveredcorrectly,theyhelpensurefrictionlessdeliveryofall
bankingtransactionsandservices,andsignificantly
elevateeverycorporateclient’sexperienceandvalue.
Theyenableseamlessintegrationofacompany’sfinanceprocessesandsystemswiththebank’sinfrastructure,
facilitatingefficienttransactionprocessing,real-
timecashflowmonitoring,andautomatedfinancialreporting;benefitsincludeenhancedoperational
efficiency,reducedmanualintervention,andimprovedaccuracyincashmanagementtasks.
Byleveragingtheseservices,businessescanachievebetterliquiditymanagement,compliance,and
strategicfinancialplanning,ultimatelyoptimizing
theiroverallfinancialoperations.Ontheflipside,
superiordeliveryofthesecapabilities,integrated
effectivelyintooverallclientexperienceandservicedelivery,canbeacompetitivedifferentiatorforbanksorpaymentsprovidersinservingtheircorporatecashmanagementclients.
Deliveringnext-gen
clientintegrationservices:what’srequired?
Whenapproachingclientintegrationservices
transformation,businessleadersshouldkeepinmindthefollowingprinciples–which,notsurprisingly,allcenteronclientneeds,expectations,andexperience:
4
6
7
Createconsistencyacrosstestprocedures,
documentation,andsupport–leadingtoa
predictableclientexperienceevenwhenscopingservicesarerequired.
Providecontinuousintegration-relatedadvisory
servicesaschangesinintegrationmechanisms,
channels,andpayment-servicepropositionsdevelopovertime.
Together,theseprinciplesshouldhelpsteerfocustowardanumberofstrategicprioritiesaimedatdelivering
thenextgenerationofclientintegrationservicesfor
corporateclients,discussedbelow.Asamplingof
possibleactionsforeachofthesixpriorityareasisalsosummarized.
Deliverseamlessclientexperience,fromonboardingthroughintegrationandduringbusinessasusual.
Tailorperclientsizeandscale.
Allowclientcontroloftheintegrationprocess,
throughacombinationofself-serviceoptionsandtailoredsupport,toensuretheirbusinessneedsarebeingmet.
Includespecifictestingservicesaspartoftheservicecataloguetoprovideflexibilityforindividualneeds.
Maketheend-to-endintegrationjourney
transparentbysharingpredesignedtestandacceptancescenarios.
Ensureclientsupportisfullyresponsiveandasclosetorealtimeaspossible,leveragingrelevantand
preferredcommunicationtools.
1
2
3
4
5
Figure1.Prioritiesfornext-genclientintegrationservices
Clientexcellence
Provideagreatclientonboarding
experiencethatisstructuredina
transparentway,encouragesself-service
andprovidesproactiveglobaladvisorytoempowerclientstoachievetheirgoals.
Boostbrandingtoshowcasevalueaddtoourclients
Communicatethebenefitsoftheteaminternallyandexternallytodemonstrate
thevitalroleofteamsindrivingrevenue
realization.
Partnerforsuccess
Formalizeandstrengthen
externalpartnershipswith
ERPprovidersandtechnologyvendorstodeliverdigital-firstexperiencesforclients.
Highlyskilledtalentwithstrongcapabilities
Ensuringcolleagueshavetherightenablingcapabilities
acrosstoolingandknowledgetobecometrustedadvisorstoclients.
Collaborationiskey
Bringtogetherkeyinternalstakeholdersandbuildfeedbackloopstodeliverthebestclient-centricsolutions.
Buildinnovativetoolstoenhance
capabilities
Deliverfuture-prooftoolsandtechnologythatenhancestheclientintegration
team’sabilitytosupporttheircustomersinatransparentandgloballyconsistentmanner,withtheabilityforflexibility.
5
Movingclientintegrationtransformationforward
Clientexcellence
Provideaclientonboardingexperiencethatis
structuredinatransparentway,encouragesself-
servicewhendesired,andprovidesproactiveglobaladvisorytoempowerclientstoachievetheirgoals.
Keyinitiativestoensureclientexcellenceobjectives
aremetmightincludethecreationofaclient
Fromthereal
world:measuringclientsatisfactiontoimproveclientexcellence
Alargeglobalbanksecuresregularfeedback
relatedtoitstreasurybusinessthroughanonlinesurvey.Thecompany’streasurycapabilitiesarealsobenchmarkedagainstindustrypeersand
best-in-classcompanies.Beyondliquidityand
cashmanagementservicecapabilities,these
confidentialresultsincludefeedbackonand
influenceareasofgovernance,riskmanagementandtechnologyuse,therebydefiningcontinuoustransformationagenda/plan.1
integrationservicecatalog,todocumentandraise
clientawarenessofvalue-addedservices;theregular
publishingofupdatedintegrationguidesprovidingclearcommunicationsandstep-by-stepguidancetoclientsontheirintegrationjourney,alleviatingtheneedforlow-
valueinteractionswithclientintegrationmanagers;andthealignmentofregionaloperatingmodelstoprovideconsistencyinclientsupportandbettercustomer
service.
Highlyskilledtalent
Ensurecolleagueshavetherightenablingcapabilitiesacrosstoolingandknowledgetobecometrusted
clientadvisors.
Priorityemphasisshouldbegiventotherefinementofrolesandresponsibilitiesacrosstheclientintegration
teamtoensuretherightcomplementofcurrentand
futureskillsets.Createandleverageglobaltraining
andknowledgesharingprogramstoup-skilltalentandimproveproblem-solvingbasedonlessonslearned
acrosstheorganizationandclientbase.Inaddition,applyappropriatefocusontherightcomplementoftoolsforadvisorsandvalue-addedservicesforclients.
6
Fromthereal
world:building
outseamlessERPintegrationoptions
Aglobalfinancialservicesinstitutionworks
withindustrypartnerstodevelopinnovative
solutionsthatsimplifyandspeedERPintegration.Itscomprehensivecapabilitiesreducethe
implementationtimeframe,complexity,and
costsofERPintegrationbyleveragingexisting
functionalitytoeliminatetheneedforcostly
specializeddevelopment;adynamicsolution,thefinancialinstitution’sERPintegratorcansupport
aglobalfootprint.Toberesponsivetovarying
customerneeds,thebanknowoffersaflexibleandefficientERPIntegratorforbothSAPandOracle
ERPCloud.2
Innovativetechnologyand
enhancedselfservicecapabilities
Betterorchestratepaymentsproductsand
servicestominimizefrictionforthecustomer,andenhanceabilitiestosupportclientsatscaleandinatransparent,globallyconsistentmanner–withroomforflexibilitywhenneeded.
DevelopmentprioritiesshouldincludeAPInative
integrationandaggregationtechnologythatenablesbankstooffertrueomnichannelexperiencesto
theircorporateclients.Bankscouldalsobringready
adaptersforERP/TMS/bookkeepingsystemsand
wrapthemwiththeirownbouquetofsolutionsand
services.Goodpracticehereincludestheconsiderationofanorchestrationlayerthatoffersadvanceddigitalexperienceandpreventscorporateclientsfromhavingtofacethecomplexityofbanks’legacysystems.The
introductionofasandboxenvironmentalsoaddresses
thecontinuouschallengecorporatetreasurersfacein
havingtoadapttonewregulationsandindustrychangeswhilegivingthemmoreautonomyandcontrol.
Internalcollaboration
Bringtogetherkeyinternalstakeholders;buildfeedbackloopstodeliverthebestclient-centricsolutions.
Establishwaysofworkingacrossfunctionsandteams,includingthedesignofanoperatingmodelthatincludesaformalfeedbacklooptoproductanddigitalteamsforconsiderationofnewand/orimprovedclientintegrationservicesandofferings.Thisassumesgreatervaluefor
clientswhooperateacrossmarketsandhaveglobal/regional/nationalfinance.
Externalpartnerships
FormalizeandstrengthenexternalpartnershipswithERPprovidersandtechnologyvendorstodeliver
digital-firstclientexperiences.
Activitymightbeginwithconductingbuild/buy/partnerassessmentsforkeyinitiatives,buildingaholistic
high-levelviewofrequirementsneededtosupport
identificationofsuitablepartners;theinitiationof
specificpartnershipdiscoveryexercisesincludinggoalsetting;andthedefinitionoftheexternalpartner
onboardingprocesses.
Value-focusedbrandbuilding
Communicatethebenefitsofsuccessfulclient
integration,internallyandexternally,todemonstraterevenuerealization.
Contributingactionsmightincludethedefinitionofaninternalandexternalmarketingplantocommunicate
theexpertise,benefits,andvalueofclientintegrationtoimportantconstituenciesandstakeholders;thecreationofaclientintegrationplaybooktoarticulateservicesandvalue,andtohelpguaranteeconsistentdelivery;andthecraftingofcasestudiesandsuccessstoriesshowcasingvaluedeliveredandrevenueenhancementachieved.
Fromthereal
world:anexternalpartnershipdrivesimprovedefficiency
Alargetraditionalpaymentsproviderusesa
partnershipwithCashforcetodelivermoreefficientoperationsandbetterinformeddecision-making
forthecorporatetreasurerandteamatalarge
consumerproductscompanywithaself-driving
treasurysolution.Thepaymentproviderreceivesforecastedcurrencypositionsfromtheclient
company,generatedbyCashforceonarolling
weeklybasis.Thepaymentsproviderthenauto-
adjuststheclient’smonthlyFXhedge,thereby
automaticallypreservingdesiredhedgeratios.
ProvidereFXsolutionsaredevelopingboththeAPIforthedataexchangeandthelogicneededfor
determiningandexecutingthenecessaryFX.3
7
Inconclusion
Takeclientcentricitytothenextlevel
Deliveringfullyeffective,enterprise-widecash
managementsolutionstocorporateclientsisakey
challengeforbanksandtraditionalpaymentservices
providers:asreportedinour
WorldPaymentsReport
2023
,70%ofcorporatetreasurersagreedthatcurrentbankcashmanagementservicesareunderwhelming;
asbutoneexample,70%citedpoorbank-to-corporateERP/TMSconnectivityasamajorbarriertoservice
excellenceandtheirowneffortsattreasuryinnovation.Transformingclientintegrationservicesistherefore
animperative–helpinglargepaymentsproviderstoremainrelevant,bettersatisfyclientexpectationsandneeds,andsucceed.
Movingforward,bankpaymentsexecutivesshouldkeepthefollowingtopofmind:
•Liketheprovidersthemselves,corporateclientsarecomplexorganizationsthatmustreacttoconstantlychangingmarketplaceandregulatoryenvironments.Asclientneedsevolve,paymentprovidersneedtoevolveofferingsandservicestohelpthemadapt.
•Providersneeddoabetterjobofachievingtrue
understandingoftheirclients–andnotjustthe
needsandpreferencesofthecorporatetreasurerstheydirectlyserve.Banksneedtodevelopmuchdeeperknowledgeoftheircorporateclients’
industries,sections,andcompetitivemarkets,inordertoensureofferingsareasrelevantandasefficientlyintegratedaspossible.
•Asmadeclearthroughoutthisarticle,client
integrationismuchmorethanonboarding:itneedstobeconsideredasacriticalcomponentofoverall
customerexperienceandnotjustasaone-offevent.Clientintegrationservicesneedtobedeliveredwithcontinuityandconsistency,whilealsobeingflexibleenoughtoreacttoandsupportthecontinuousflowofchangethatclientsface.
•Investinginpaymentsorchestrationandautomationtechnologytoacceleratedigitization,streamline
clientinteraction,andminimizethefrictioncreatedbybank’slega
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