Improve the reliability of supplier bank detail checks before creating and modifying third party information in the databases.
Implementation of the automatic supplier bank details check module for the Group Treasury team.
Around a hundred IBAN are checked monthly with an average time of 2 min per check and a reliability level of 100%.
The Group Dehon finance teams were impacted by a phenomenal loss of time dedicated to checking IBANs and, above all, were not able to check all bank references (sometimes unverifiable).
In the past, when treasurers had to check bank details, it was compulsory to directly contact concerned suppliers through a given channel, which sometimes did not match the phone number mentioned on the invoice, and which required one to visit specific websites. These checks wasted a lot of time!
Without disrupting the Finance Department’s payment process, Trustpair’s IBAN control tool interfered with the company’s usual workflow: from the IRIS accounting software to the EBICS TS payment processes, the teams are now at ease when it comes to validating the bank details of suppliers.
The automatic check with Trustpair allows the Treasurers and users of the Trustpair platform saving from the cumbersome task of verifying the supplier bank details and allows them to concentrate on their core business.
Prior to the automation of the IBAN checking process, the team would take an average of 20 minutes to complete the check. Today, in 90% of cases, a check is validated by Trustpair in less than 2 minutes.
The controls confirmed by Trustpair are 100% reliable. The supplier bank details check module delivers a binary risk assessment: favorable or unfavorable. The latter facilitates decision-making processes regarding the creation or modification of third party information as a basis.