RBC Dexia Investor Services has selected BCS Arc from Business Control Solutions (BCS) to centralize and reconcile its agent network management data. The solution is due to go live in July 2010.
Prior to selecting BCS Arc, RBC Dexia used a combination of in-house systems for its agent bank fee controls.
BCS Arc will be used as a data repository for all internal and external relationship entities, contacts, contracts, agent fee schedules and invoices. It will enable RBC Dexia to electronically compare invoiced fees with a synthetic invoice produced by the software to validate the accuracy of invoiced amounts.
The system will also provide ‘What If?’ analysis to enable RBC Dexia to compare fees across multiple service providers and model alternative charging mechanisms, supporting the renegotiation process, said BCS.
Tim Wood, head of network management at RBC Dexia, said: “We chose BCS Arc because it proved to be the strongest solution available that would address our challenging requirements. This will form an important part of control and efficiency improvements across our network management operations. It will also enhance the level of transparency and management information we can provide to our clients.”