Monetize360's intelligent Billing Analytics platform has helped us to identify trends and optimize fees with five global banks spanning 500+ bank accounts across the globe," Louise Georgiou, Executive Director, Global Cash Management, NCR Corporation
LOS ALTOS, Calif. (PRWEB) November 17, 2021
Monetize360, the company simplifying pricing, billing, and financial analysis via no-code platforms, today released a new version of Billing Analytics, previously known as Bankgraph. With the company’s Billing Analytics offering, CFOs and treasurers are able to visualize their global banking relationships and commitments, including bank fees, bank accounts, wallet share, price agreements, and more. Stakeholders can analyze, rationalize, and optimize banking fees, interest income and bank account inventory across the country - and the globe. This latest release includes more industry-first functionality, including price variance analysis and fee and volume forecasting.
“Monetize360 enables our global cash management team to make more informed decisions regarding our banking relationships and associated costs. Their intelligent Billing Analytics platform has helped us to identify trends and optimize fees with five global banks spanning 500+ bank accounts across the globe. Ensuring conformance to pricing agreements, down to as granular as “a” individual transaction. Without Monetize360, it would be incredibly difficult and require additional resources,” said Louise Georgiou, Executive Director, Global Cash Management, NCR. “The money saved per year has a meaningful impact, and the clarity and transparency we now have is invaluable,” she added.
CFOs, finance leaders and treasury departments recognize that there are many drivers that trigger charges from their transaction banking partners. But, fees are presented back in incredibly disparate, complicated, and difficult formats making it hard for executives to see the true operational cost.
Monetize360’s no-code Billing Analytics offering allows for plug-and-play performance from Day One, immediately identifying overages and potential issues. Billing Analytics is the easiest and most reliable way to consolidate and compare fees across banks and payment service providers in a credible way without any complicated IT development or configuration. In totality, Billing Analytics offers prescriptive actionable insights along with forecasting. Other solutions are limited to an analysis of bank fees.
Monetize360 simplifies and reconciles the disparate data sets provided by banking partners, making it possible to visualize data trends that were previously obscured. Unlike other solutions, Monetize360’s Billing Analytics solution ingests bank statements in any format, including PDF, EDI, CAMT, Excel.
Today’s announcement includes the following new features and functionality:
--Price Agreement Management: Corporations can maintain all their agreements and the details of agreed prices by service and time periods.
--Price Variance Analysis: Analytics engine will automatically calculate the variances in the price in billing statements vs the agreements and flag them.
--Fees and Volume Forecasting: System generates forecasting of volume and fees by service, bank, across all banks using AI/ML based algorithms.
--Account Inventory: This gives a single view into all the bank accounts across the banking partners, auto discovered from the bank fee statements. Corporations have the ability to annotate and add additional information and tags for easy reporting.
--Advanced Analytics & Reporting: System provides ability to generate savings analysis between two different time periods, factoring for volumes and unit pricing.
Additionally, Monetize360 offers advisory services that enable treasurers to get calls to actions and recommendations periodically. This further eliminates the need to find time from their other pressing priority items.
About Monetize360: We’re proud to be the company bringing the best-in-class, no-code analytics, pricing, and billing solutions to market. Our customers are able to automate routine financial processes and quickly monetize their products and services, in even the most complex scenarios. No pricey custom development, no arduous onboarding required. Monetize360 was launched in 2017 and bootstrapped until 2021, when we secured a 3.2M seed funding round.