With Treasury Strategies’ NDepth bank fee analysis solution now integrated into the GTreasury system, treasurers get automated, complete, and self-service bank fee analytics and benchmarks.
CHICAGO – GTreasury, a treasury and risk management platform provider, today announced a partnership with Treasury Strategies (a division of Novantas, Inc.) that fully integrates Treasury Strategies’ NDepth bank fee analysis (BFA) capabilities into GTreasury’s comprehensive system for digital treasury. With NDepth, GTreasury customers now have access to the most robust and efficient solution providing full transparency, visibility, benchmarking, and control over their banking activities fees – all available from within the powerful GTreasury ecosystem.
“Corporate treasury’s biggest expense is often bank fees, but few organizations are able to regularly monitor this expense with the accuracy and insight needed to effect change,” said Terry Beadle, Global Head of Corporate Development at GTreasury. “Traditional fee analysis is hampered by inaccurate or outdated data that makes apples-to-apples fee comparisons incomplete, demands manual and time-consuming processes to input data and build out reports, and requires coalescing myriad bank statements and file formats. NDepth wholly transforms BFA by eliminating those burdens and more. The solution now becomes a crucial component of our integrated treasury and risk management platform, providing our customers with a consolidated system of truth that is self-service and contains all the international BFA data and benchmarking that treasurers need.”
Traditional fee analysis is hampered by inaccurate or outdated data that makes apples-to-apples fee comparisons incomplete, demands manual and time-consuming processes to input data and build out reports, and requires coalescing myriad bank statements and file formats. NDepth wholly transforms BFA by eliminating those burdens and more. The solution now becomes a crucial component of our integrated treasury and risk management platform, providing our customers with a consolidated system of truth that is self-service and contains all the international BFA data and benchmarking that treasurers need.
Terry Beadle, Global Head of Corporate Development at GTreasury
Treasury Strategies’ NDepth solution is proven to significantly improve monthly bank fee analysis. By combining powerful technology with learning algorithms, NDepth automates and simplifies the process of reviewing account analysis statements. These statements are processed by NDepth each month, in whatever format they exist, and data are mapped into standard or custom product families to make tracking and bank-to-bank comparisons simple and clear. Benchmarks show fee levels at each bank and for each product family in relation to the market. Dashboards show trendline and summary information for balances, rates, services, and spend.
With bank fee analysis now powered by NDepth, GTreasury customers have the most powerful bank account management tool, a repository of auditable electronic bank statements, and the mechanisms necessary to help treasurers connect with banks, internal systems, and other third parties. Benefits of NDepth integrated into the GTreasury platform include:
- Significant cost savings: NDepth provides fee transparency so that treasurers can have a better understanding of exactly what they are paying for. Automatic alerts flag any unexpected changes to a business’ negotiated pricing.
- Better data: Treasurers are in a stronger position to budget for their spending and improve bank relationships, backed by expertly managed, normalized data for how they are paying fees across banks and how that spending compares with peers with similar volume levels. On-demand reports show customized price benchmarks and make it easy to identify outlier fees.
- Improved yields: Treasurers make more informed and data-driven cash deployment decisions by leveraging net effective rates.
- Better workflow efficiencies: NDepth eliminates manual processes by receiving files directly from banks, ingesting data, performing file mapping, and presenting data visualizations ready for treasurer analysis.
- Domestic and International access: NDepth supports EDI-822, TWIST/BSB, and PDF account analysis statements, allowing GTreasury customers with global business to have BFA data available for all of their operations.
- Complete security: All files are fully encrypted both in transit and at rest, and all benchmarking data is aggregated and anonymized.
“We’re excited to bring NDepth to the GTreasury platform – and to introduce the advantages of best-in-class BFA technology to more organizations around the world,” said Pete Gilchrist, Executive Vice President of Novantas. “By automating and simplifying bank account analyses, NDepth fits perfectly into GTreasury’s single source of truth for cash, payments, and risk activities. GTreasury has built a reputation as a one-stop-shop for delivering treasurers the data, functionality, and ease-of-use they need to do their jobs well, and NDepth will amplify that position. We look forward to seeing how treasurers will save their organizations time and money using NDepth with GTreasury.”
Current and prospective GTreasury customers can learn more about how NDepth and GTreasury transform bank fee analysis by downloading the new NDepth Bank Fee Analysis Overview.
For more than 30 years, GTreasury has delivered the leading digital Treasury and Risk Management System (TRMS) to corporate treasurers across industries. With its continually innovating Software-as-a-Service platform, GTreasury provides customers with a single source of truth for all their cash, payments, and risk activities. The TRMS solution offers any combination of Cash Management, Payments, Financial Instruments, Risk Management, Accounting, Banking, and Hedge Accounting – seamlessly integrated, on-demand worldwide and fully secured. Headquartered in Chicago with offices serving EMEA (London) and APAC (Sydney and Manila), GTreasury’s global community includes more than 800 customers and 30+ industries reaching 160+ countries worldwide.
About Treasury Strategies
Treasury Strategies, a division of Novantas, Inc., is the leading treasury consulting firm serving corporate Treasurers, their financial services providers and technology providers for the complete 360° view of treasury.
Novantas is a leading fintech provider of advanced decision support systems and data. Novantas products leverage big-data technologies and machine learning to deliver timely, actionable intelligence on customers, deposits and markets.
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