Cashfac reduces manual processes and improves efficiencies for pensions finance teams
Cashfac Technologies, a global leader in Cash Management solutions, today announced that one of the world’s largest risk specialist and employee benefits group has extended their use of Cashfac’s technology solutions across the business to provide cutting-edge workforce benefits and financial products to their clients.
Cashfac’s solutions have been used to streamline and automate the administrative and banking processes across the business’ pension administration and payroll divisions; reducing the firm’s reliance on manual workflows, creating greater control over the entire client money lifecycle and helping the firm achieve significant cost savings.
Cashfac’s solutions fully automate the management and control of payments, receipts and reconciliations of pension contributions to reduce the firm’s reliance on manual confirmations that adds complexity and drastically slows down the investment process. The automation of administrative processes has been instrumental in providing greater productivity and process control to those in the pensions finance team as well as reducing internal costs related to duplication of workflow tasks and staff training. All client money movements are identified, automatically segregated and allocated to provide unparalleled control, protection and compliance with client money regulations.
Alastair McGill, Managing Director, Global Business, Cashfac, said: “By future proofing the payroll, reconciliation and cash management processes for pensions finance teams Cashfac enhances firm’s abilities to run scalable, customer centric processes. This is critically important for those businesses looking to enhance transparency across their cash management operations and grow their client base.”