Bankhawk Helps Global Telecom Group Save Over $3 Million Annually
Snapshot:
Reduced numerous client corporate costs by 50% or more.
Found over $3 million in yearly client savings to date.
Created a strong pipeline for additional savings initiatives.
Background:
Bankhawk was hired by a global telecommunications group with an annual revenue of over $50 billion to optimize its banking and card payments. Bankhawk analyzed the client's banking and card payments data across 40 countries and identified several opportunities for savings and efficiency. Bankhawk used its proprietary software and benchmarking tools to compare the client's banking fees, interest rates, card transaction costs, and account structures with the best available in the market. Bankhawk also assessed the client's current processes and policies for banking and card management and suggested improvements to align them with the best practices.
How Bankhawk Helped:
Bankhawk conducted a competitive tender process for the client's card payment processing and merchant acquiring services, involving several global and local providers. Bankhawk negotiated with the preferred provider to secure lower fees, improved service levels, and enhanced reporting capabilities for the client.
Bankhawk facilitated a dialogue between the client and its main banking partner to review the terms and conditions of their existing relationship. Bankhawk helped the client to leverage its global volumes and strategic importance to obtain better pricing, more favorable credit facilities, and increased transparency on the bank's performance and service quality.
Bankhawk engaged with the client's regional and local banks to challenge their fee structures, interest rates, and account balances. Bankhawk used its benchmarking data and market intelligence to identify areas where the client was paying above the market average or holding excess liquidity. Bankhawk then negotiated with the banks to reduce the fees, increase the interest income, and optimize the account structures for the client.
Results:
As a result of Bankhawk's intervention, the client achieved annual savings of over $3 million across its banking portfolio, improved its cash flow and liquidity management, and strengthened its relationship with its main bank. Bankhawk delivered significant value to the client by reducing their banking costs by 25%, increasing their interest income by 15%, and optimizing their account balances by 10%. The client also benefited from enhanced visibility and control over their banking performance and service quality.
The client was able to save more than $3 million per year on their banking fees and interest rates, thanks to Bankhawk's expertise and negotiation skills. Bankhawk also helped the client to streamline their account structures, improve their cash position, and monitor their banking service levels.