Organisations need the right amount of cash in the right place at the right time to ensure their operations are adequately funded. Empower your organisation with virtual accounts to concentrate your cash with a simple, effective and secure self-management system.
What are virtual accounts?
Virtual accounts are a series of sub-accounts linked to a single current account, reducing the need for physical bank accounts. They provide firms with greater control and visibility over their cash flows.
Ceviant’s platform enables your organisation to create and operate virtual account structures that mirror your organisational setup. Improve cash visibility, optimise liquidity, and rationalise the number of physical accounts required to manage cash across the organisation effectively.
What are the advantages?
Visualise your entire cash picture, make real-time decisions, and gain insights that drive critical business decisions;
Track all transaction activity from one account, globally. Free up resources by reducing the administrative burdens of manual reconciliation and running multiple physical accounts;
Automate reconciliation of incoming payments and invoices, making reporting, monitoring and the sending of reminders easier;
Centralise cash into the primary accounts and potentially benefit from a higher interest rate;
Account structure rationalisation reduces the constraints of administering numerous real bank accounts; and
Integrate virtual structures with existing liquidity solutions to optimise your financial models and streamline processes.
