Is relationship pricing and billing on your radar for 2013?

Did you know? For every $1 billion in annual revenue generated by global transaction services, banks can “leak” upwards of $25 million – revenue they should be collecting.

Let’s face it. There’s no shortage of challenges currently facing global transaction banking. Against a backdrop of increasing competition, tightening regulation and limited resources, it’s becoming more and more difficult for cash management banks to source and retain new revenue. Relationship managers are looking to hit their sales targets, while product managers want to make sure those targets are profitable.

As you review your plan of attack for 2013, consider looking inward first. Are your current product and service offerings relevant and profitable? Are your internal systems and processes synchronized and streamlined? Perhaps most importantly, are you making the most of the relationships with your existing customers? How can you bring these opportunities together and harness their potential? To answer the questions, we want to shift the paradigm from “What is possible?” to “What would be ideal?”.

In the global cash management space, each of your customers is truly unique – from internal structure and geographical representation to business objectives and supporting technologies. Within the current banking environment, the challenge of facilitating long-term revenue assurance requires a comprehensive strategic vision, including optimizing your pricing and billing capabilities to cater to each individual customer effectively.

With a strategic relationship pricing and billing platform, you can empower your organization with a consolidated, ‘360 degree’ global view of your customer. Offer flexible pricing and billing options to your customers based upon the entire relationship, not just a single product line or business unit. By enforcing contractual agreements on fees that currently are not billed correctly – or perhaps not billed at all – you can address revenue leakage issues and maximize profitability, all without signing any new customers.