The AFTE Conference is over. Is your BAM solution in place ?
At the “Journées de l’AFTE” treasurers’ conference, Eric Gayno led a workshop on “The keys to working with eBAM”.
At “Journées de l’AFTE”, the annual conference of the Association Française des Trésoriers d’Entreprise (French Association of Business Treasurers), we learned that just 25% of French businesses are equipped for BAM. It’s a shame that after having spent so much effort on securing their payment methods, companies haven’t taken a few extra days to deploy a business solution like Thétys Pouvoirs to secure their delegation chains.
For many years now, most businesses’ financial departments, especially in France, have been at the absolute cutting edge of technology when it comes to their use of payment methods, yet virtually no progress has been made in bank account management.
On the one hand, bank transfers have transitioned to digital formats, signatures are now exchanged in electronic form, cheques are secure, and payment facility infrastructures are state-of-the-art, due in large part to the use of SaaS solutions and the deployment of specific programmes like the SWIFT Customer Security Programme (CSP).
But on the other hand, bank account management (BAM) is still done manually! The current state of the delegated banking authorities is typically recorded in an Excel file, perhaps with password protection in the best-case scenario.
And yet, it’s so simple to implement a professional bank account management solution that there’s no reason to do without one.
The ACA team at their stand at Journées de l’AFTE
The Thétys Pouvoirs solution has been available for over 10 years to meet the needs of medium and large businesses. It allows treasurers to model the company’s cheque-signing authorities while providing an audit trail for configurations and an archive of bank letters. In international settings, the letters are translated into the local language. As a result, finance departments can generate all the letters that relate to the life cycle of their bank accounts, automatically and in rapid succession: opening accounts, modifying authorities, changing signatories, bank flows, and closing accounts.
Thanks to its library of standard letters, deploying Thétys takes only a few days. Thétys also includes an eBAM module that brings bank account management up to the same level of security as for payment methods. The cycle is complete!
Want to learn more about the BAM module? Contact us :
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