Software provider Hanse Orga has reached an agreement with the Association for Financial Professionals (AFP) to integrate its Service Codes into the company’s bank account management technology.
AFP Service Codes are widely considered to be the industry standard for analysing and comparing services and fees that corporate banking clients receive in their account breakdown statements. The agreement means that Hanse Orga will now be able to incorporate these Service Codes into its FinanceSuite electronic Bank Account Management (eBAM) platform.
As a result, says the company, treasury customers will have access to streamlined channel both for software and for domestic and global service codes. Treasurers will then be able to use these to automate and standardise account analysis processes, and to save time obtaining, reconciling and comparing data for bank services and fees.
“We consider it the utmost importance in providing our customers with the necessary tools to meet today’s challenges in the corporate environment,” said Sven Lindemann, CEO of Hanse Orga. “Account analysis is a topic that is gaining visibility from companies worldwide; the potential to increase efficiencies in this area is great. We are pleased to be able to include the AFP Service Codes in our FinanceSuite eBAM solution and, thus, to empower corporate treasurers in the managing and controlling of their banking relationships, and in striving for optimal bank services at competitive rates.”
“Hanse Orga is an expert in SAP-integrated solutions and services for treasury and accounting, and with its FinanceSuite eBAM solution, Hanse Orga provides a vital tool to corporate treasurers for effectively managing bank accounts and bank relationships. We are excited that through the integration of the AFP Service Codes within their software, another step towards greater standardisation in account analysis is made worldwide”, agreed AFP President and CEO Jim Kaitz.
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