The leading software provider Hanse Orga and the Association for Financial Professionals (AFP) announce that Hanse Orga has been licensed to integrate the AFP Service Codes© within its FinanceSuite eBAM (electronic Bank Account Management) solution. The AFP Service Codes© are the global standard for analysing and comparing the services and fees that are included in the account analysis statements which companies receive from their banks.
Thanks to the agreement, both the Domestic and Global AFP Service Codes© are now integrated within Hanse Orga’s Bank Performance Analysis and Bank Account Administration software FinanceSuite eBAM. By incorporating the AFP Service Codes© in the FinanceSuite, Hanse Orga further enhances its software solution for customers by providing a single channel for both software and codes to streamline production readiness.
“We consider it the utmost importance in providing our customers with the necessary tools to meet today’s challenges in the corporate environment. Account analysis is a topic that is gaining visibility from companies world-wide; the potential to increase efficiencies in this area is great. We are pleased to be able to include the AFP Service Codes© in our FinanceSuite eBAM solution and, thus, to empower corporate treasurers in the managing and controlling of their banking relationships, and in striving for optimal bank services at competitive rates”, said Sven Lindemann, Chief Executive Officer of Hanse Orga.
With the software and the included codes, Treasurers have the necessary technology and the base set of domestic and global service codes at hand to achieve automation and standardization of their account analysis processes, and to minimize the effort and time in obtaining, reconciling, and comparing of data for bank services and fees.
The uniform service codes enable treasury staff to simplify other functions as well, and to guide cost-sensitive treasury managers in receiving value for price in their banking services. Corporations using the FinanceSuite eBAM further benefit from the standardized AFP Service Codes when issuing Requests for Proposals to banks, as the solution will assist companies in categorizing and grouping like services for comparing price quotes offered by the bidding banks.
“Hanse Orga is an expert in SAP®-integrated solutions and services for treasury and accounting, and with its FinanceSuite eBAM solution, Hanse Orga provides a vital tool to corporate treasurers for effectively managing bank accounts and bank relationships. We are excited that through the integration of the AFP Service Codes© within their software, another step towards greater standardization in account analysis is made world-wide”, said AFP President and CEO Jim Kaitz.