Treasury Services has developed a revolutionary solution to set up cash pooling structures completely independent from banks through software. This creates significant additional savings and advantages compared to a cash pooling solution with banks. The background of our decision to develop such a solution is described in the Article we published at the European Association or Corporate Treasurers (EACT).
The advantages of Cash Pooling through Software are:
- Implementation time of maximum 1 day
- Adding, modifying and removing accounts in the structure can be done instantly
- Pooling on accounts maintained with different banks
- Pooling on accounts maintained in different countries
- Maximum flexibility, and no limitations, in choice of banks for transactional banking
No guarantees, pledges, covenants and other sureties to banks
- Minimises credit risk on financial counterparts (banks)
- Compliance rules requested by banks are not applicable anymore
- Optimises funding possibilities
- No limitations on Finance stemming from Cash Management
- No banking fees for pooling
- Minimises bank accounts and account maintenance fees
- Minimises bank service fees
The solution we have developed is a complete solution. It does not only consist of a software solution, but also proposed changes for policies and processes, and we investigated the legal and fiscal constraints.