Cost management strategies and savings through accounting and invoice control
The financial service community incurs a multi-billion spend on variable expenses and the impact on profitability is significant. The improved understanding, measurement and optimisation of how transaction fees are incurred offers an opportunity to realise considerable savings. Each firm’s ability to recognise and achieve this savings potential is restricted by the completeness and accuracy of the information it uses to substantiate spend analysis.
SmartStream’s TLM Fees and Expense Management solution has been developed to address the need to drive savings to the bottom line and to enhance profitability.
Supported by best-of-breed technology, TLM Fees and Expense Management allows firms to strategically manage their variable expenses. It does so by using an end-to-end automated process, capable of substantiating variable expenses accurately across high volumes of transactional information and apportioning fees exactly. The solution supports:
- Variable expense reduction
- Business and client profitability
- Dynamic service pricing
- Automated accounting
- Operational efficiency