Discover a Practical Centralised Signatory Dashboard Solution
The Challenge
For multinational corporations (MNCs) managing extensive treasury operations, bank account signatory management can be highly complex and time-consuming. With over 100 bank accounts across various countries, each with unique regulations and requirements, this MNC faced multiple challenges:
- Labour-Intensive Signatory Tracking: Each bank account has designated signatories based on roles and purpose, making it difficult and time-consuming to track and update authorisations, especially when a signatory resigns or changes roles.
- Complex Mandate Amendments: Any change, such as replacing a signatory, requires accountants to locate all accounts the individual was assigned to, find an appropriate replacement, and seek board approval, often delaying important operations.
These challenges created inefficiencies, increased workload, and risked delays in critical treasury operations, impacting the effectiveness of the MNC’s treasury management.
Our Solution
The Centralised Signatory Dashboard provides a comprehensive, secure, and efficient tool to centralise and automate the management of bank signatory mandates. Built to operate 100% on-premise, this dashboard runs on users’ laptops, ensuring data security while streamlining tracking, updating, and managing signatory roles across all bank accounts.
100% On-Premise Solution
- The tool operates entirely on users’ laptops, ensuring complete data security and control without reliance on external servers, effectively minimising security concerns.
Centralised Signatory Database
- The tool consolidates all signatory data in one location, allowing treasury staff to locate assigned accounts and levels of authority quickly, saving time and reducing errors.
Customised Bank Form Generation
- Tailored to each bank’s requirements, the tool generates pre-filled forms for signatory changes, ensuring compliance and accuracy while reducing manual work.
Results
Since implementing the Centralised Signatory Dashboard, the MNC treasury team has experienced the following benefits:
- Reduction in Time for Mandate Updates: Centralising signatory data and automating mandate amendments saves substantial time and reduces manual effort.
- Enhanced Data Security: Operating 100% on-premise, the tool alleviates security concerns by keeping all sensitive signatory data within the organisation’s own systems.
- Consistent, Accessible Records: Centralised records provide easy access to updated signatory information, enabling rapid responses to personnel changes.
