Bank connection services
We support the establishment of overseas bank account connections and operational systems, which are key tasks in group financial management for companies doing business globally.
We support the establishment of overseas bank account connections and operational systems, which are key tasks in group financial management for companies doing business globally.
In the financial management operations of companies doing business globally, it is common to establish a centralized management system and build an operational structure by introducing Treasury Management System (TMS), Cash Management System (CMS) or Enterprise Resources Planning (ERP).
However, in order to start its operation, the company must first internally perform tasks such as requesting banks with subject accounts in Japan and abroad to provide the information and coordinating data reception tests with vendors. While it is relatively easy to communicate with domestic financial institutions, it is burdensome for financial management department to directly communicate with financial institutions in various foreign countries to obtain necessary information, establish connections, and conduct testing.
In addition, it is necessary to create contracts and operational structures between the main bank and financial institutions in each country. If all of these preparatory tasks cannot be completed, centralized management of financial information for overseas business locations cannot be initiated.
Focusing on these issues faced by multinational companies, Tokyo Kyodo Accounting Office has launched a service to support the upgrading of global financial management.
Experienced financial institution practitioners who are familiar with the protocols of financial institutions in various countries will support your business.
If you choose Tokyo Kyodo Accounting Office’s services to support overseas account information of your group companies and bank connections, we will establish an operational system on behalf of your financial staff to connect to the bank accounts information of your overseas business locations, group companies, etc. (Since we are not the bank account holder, we will actually arrange the request letter, evaluation of replies, and data connection test in lieu of the client.) We contribute to the upgrading of our clients’ financial management.
■Obtaining overseas bank account information in the form of electronic data
We prepare various contracts and application forms for local banks with which overseas business bases have accounts by requesting them to send information, confirming data specifications, confirming prices, etc.
■ Connection testing on behalf of our clients
We request TMS/ERP vendors to test data reception, and conduct a connection test, and evaluate the results.
(In some cases, the client’s financial management representative may also be present to conduct the test.)
■ Other Business
If you would like to centralize the management of remittance requests, we can also provide advice on the establishment of an interbank agreement (MT101) and operational structure through interviews with both your main bank and overseas banks. However, this will be considerably more complicated than obtaining account information.
Takayuki Saito
Financial management upgrade support
Manager