BNP Paribas partners with the global financial automation and payments software company, Serrala to offer their Accounts Receivable Automation portfolio to corporate clients.
BNP Paribas and Serrala are joining forces to bring a strong value-added AR offering to BNP Paribas enterprise customers around the globe. The bank will offer state-of-the-art technology from Serrala to their customers to help them improve their processes. This extended offering expands BNP Paribas' service level. With Serrala as a new key technology partner, BNP Paribas’ customers will have firsthand access to a strong and innovative AR Automation portfolio, covering the order-to-cash (O2C) lifecycle.
Collecting and applying cash quickly and determining credit risk accurately is essential for any finance organisation – whether the processes are executed in regional subsidiaries, or partially outsourced to external service providers. At its core, an efficient and agile AR Automation translates directly into improved working capital efficiency, less financial strain, and hence more discretion regarding business and investment decisions. Thanks to the partnership, BNP Paribas' customers can now easily take their AR automation, respectively O2C processes to the next level to achieve outstanding results and to future-proof business.
The Serrala solutions centralise and streamline inbound payments by efficiently processing incoming orders, automating payment reconciliation, anticipating customer risk, and deploying accurate collection and dispute resolution strategies. Resulting in, for example, reduced collection cost by 30-50%, global cash application automation of up to 99%, reduced manual and repetitive tasks by 85%, or increased collection team efficiency by at least 50%.
“This partnership with Serrala adds another innovative service to our portfolio to make a valuable contribution to our customers. BNP Paribas’s excellent payment processing and reporting capabilities have been recognised by many of our customers in improving reconciliation and reducing operational costs. Accounts Receivables Automation perfectly complements our ongoing developments to provide ever-increasing convenience and control. The AR automation offering from Serrala is differentiated through its depth across the full AR workflow, with market-leading cash application automation rates supported by differentiated machine learning document reading. We can now pass on this technology to our customers to maximise their business impact”, says Dennie Servranckx, Senior Product Manager Cash Management at BNP Paribas.
“We have gone through a vetting process at BNP Paribas and are proud to be selected. After being cited a ‘Representative Vendor' in the 2021 'Market Guide for Integrated Invoice-to-Cash Applications' Report by Gartner, the partnership with BNP Paribas is the next great appreciation of our AR automation offering and fantastic recognition for our continuous focus on innovation and delivering outstanding business results in finance automation”, states Alexis van Audenhove, Vice President Sales EMEA at Serrala.
The full press release can be found here.