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Situation
A manufacturer makes over 100 international transfers on the same day each month. The company was processing these payments through its bank and had to manually enter each line item and the payment information for each beneficiary. The process was time consuming and often error prone. Additionally, its bank had high transaction fees. |
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Solution
RueschLINK's online account management system offers Quick Load, a complimentary feature that lets clients upload multiple line items in CSV or XML format. Many standard accounting packages can import and export files in these formats helping to reduce double entry when processing orders. Ruesch also offers a complimentary Stored Beneficiary service that lets clients save beneficiary information for repeated use. Ruesch will even enter, verify, and store beneficiary payment instructions on behalf of clients—for free. |
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Outcome
Using Quick Load and Stored Beneficiary services, the manufacturer reduced a process that once took over a day to about half an hour. Because its beneficiaries' payment instructions were already verified and stored, the manufacturer's error rate was also significantly reduced. |
