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How Banks Can Benefit from Automated Treasury Management 

By and 06.06.23
Reading time: 4 minutes

Treasury management is often the unsung hero of a financial institution. It does so much behind the scenes to make a bank run efficiently and effectively, yet it usually doesn’t get the same spotlight as other products and services targeted at businesses. 

But for all its importance in helping businesses manage money, and despite technological advancements, many banks have treasury management teams working with outdated and inefficient processes to accomplish their goals. 

At Silverline, we strategize Salesforce solutions for our financial services clients’ challenges and layer on accelerators that will solve their problems even faster. Our new Treasury Management Accelerator is designed to help sales and the back-office streamline, automate, and improve the visibility of their treasury management systems. 

Here we share the purposes, capabilities, and benefits of the Treasury Management Accelerator and how it can support your bank’s treasury management processes. 

Easing the challenges for sales officers

Selling a bank’s product or service to a business is only part of the job for treasury management sales officers, but should be their main focus. The real work happens on the back end, where they are responsible for completing numerous forms and documentation, accompanied by requests for approval of the treasury management services. Sales officers lean heavily on spreadsheets for their formulas and templates, but the manual process can quickly clog up the system. 

The Treasury Management Accelerator handles these formulas and calculations within Salesforce and guides the user through entering balances, discounts, or earnings credits for each service offered. An added perk is that the Accelerator lets you enter your competitors’ information to compare your offering versus the competition. 

Once all the information is complete, the Accelerator generates a comparison pricing template for the client to review. If the client doesn’t agree with the proposed pricing, the Accelerator allows the treasury management officer the ability to adjust the pricing and generate another pro forma to try to win the business. 

Accelerating the approval process

Every financial institution has its own set of rules and requirements. The Treasury Management Accelerator gives banks the flexibility to develop the flow they need for their specific offerings. 

Once a bank wins the business, a common challenge is keeping track of the required documentation and approvals. The Treasury Management Accelerator again comes to the rescue to help streamline the process and take the guesswork out of the way. 

The Accelerator is built on Salesforce Flow for Financial Services Cloud / OmniStudio, a workflow toolset available directly for any Financial Services Cloud customer. It automates complex banking processes by providing a set of steps for treasury management to follow. The Accelerator converts what has been entered in the pro forma and begins a step-guided workflow for each service, such as uploading the required documentation or submitting limits for a service for approval.

The entire approval process is automated with the Accelerator, whereas previously, the sales officer would need to email the approver if the requested amount was over a certain limit. A reply could take days and hold up the entire process. But with the Accelerator, everything is done within the flow so the officer can track the approval statuses and notifications are automatically sent for the approval request. 

The Treasury Management Accelerator also provides the capability to pre-fill documents with the information from Salesforce Flow. It can integrate with an e-sign platform to send the documents for electronic signature and save the signed documents in Salesforce. 

The Treasury Management Accelerator helps teams spend less time on manual processes, sifting through and completing documentation so they can focus on managing relationships and obtaining new business.

Transforming the treasury management back-office

The challenges of treasury management also extend to the back-office. Each service tends to be powered by its own external, third-party system rather than centralizing all the systems. This setup makes it challenging to pull information from siloed systems into one record and leaves room for error. 

Typically, the process for the treasury officer to submit a request for setup would be submitting a packet of information via email to the back office for setup. The department would review the documentation, and if something was missing, they would send it back to the officer, making for a lengthy process. 

The Accelerator’s guided flow automatically generates a case to a back-office queue for pickup when the services are ready for implementation. It minimizes the amount of back and forth because, from the case, the back office can navigate to all of the required documentation that has been gathered, service details and approval history are readily available, and implementation can begin.

Within the Treasury Management Accelerator, a summary tab provides an overview of all of the main entity’s services, including limits, sub-entities, users, signers, or admins. 

Helping banks elevate treasury management

The Silverline R&D team, The Foundry, created the Treasury Management Accelerator. The Silverline Foundry combines Silverline’s delivery expertise with our product development excellence to build solutions for the Salesforce platform. The Foundry team has built over 200 accelerators, AppExchange apps, and Lightning components. 

The Treasury Management Accelerator easily integrates with your existing Salesforce Financial Services Cloud and OmniStudio. The Accelerator helps treasury management teams: 

  • Have increased visibility and accessibility across the entire treasury management systems and processes
  • Speed up the many steps from sales to the back office by streamlining processes
  • Save time and money by moving from manual processes to automation 

With the Accelerator, banks can quickly start providing a better relationship with their business customers, outshine the competition, and rely less on legacy processes. Learn more about the Silverline Treasury Management Accelerator or request a demo.

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