Efficiency in managing Bank and Corporate guarantees
Corporations selling high-value goods or projects are typically required to provide guarantees to their customers, to financially protect the fulfillment of the contract. The guarantee liabilities impose an off-balance sheet risk for the corporation, and therefore the process relies heavily on tightly defined structure and involvement of individuals with appropriate authorization.
Guarantee issuance is one of the deal-breaking final stages for closing a business assignment, and trade finance as a supporting organization must be able to process the issuance without unnecessary delay. Without a centralized solution, the management and tracking of the liabilities generated in different parts of the corporation is a tedious task. A fully electronic guarantee management process also offers continuous visibility into the guarantee statuses and supports the timely release of guarantees to avoid unnecessary bank fees.
Your benefits with Analyste Guarantees
- Application, handling and storage all in one place
- Always know the number and total amount of issued guarantees and limits used
- Less manual input, material distribution and errors
- Delight your auditors by getting rid of spreadsheet
MS SQL Server