Webinar: Solve European SWIFT MT940 Bank Statement Automation Problems

Often times multi-national corporations achieve automation rates exceeding 65% straight through processing when working with North American bank lockbox BAI2 fiel format. These same corporations achieve very low automation that can be as low as 20% when processing European MT940 file format.

Learn how to address the key problems that are stopping you from automating your MT940 bank statements across Europe:

  • Is there issues with the size of the reference fields in your bank statements?
  • Do you have issues with customers paying by order numbers rather than invoices?
  • Are you storing customer bank account information?
  • Do you have a large number of banks to interface with?
  • How will SEPA changes affect your ability to automate bank statements?
  • How to deal with big box retailers who flood your business with deductions?
  • Do you have visibility on your bank statements when you apply cash?
  • Get your cash application to provide a warm hand-off of deductions to your credit and
    collections deductions analysts.
  • Does your team use bank codes to automate non-Accounts Receivable transactions?

This presentation will also cover the business advantages of fixing your company’s MT940 automation problems:

  • Increase MT940 processing productivity by more than 100%

This presentation will be based on strategies used by a major Cforia customer to save extensive labor associated with manually processing MT940 bank statements.