BAMS is a treasury management portal that provides a single access view for day to day management of bank accounts across different banks.
The Bank Account Monitoring System is a web-based solution developed to help Finance/ Treasury Managers in their day to day management of multiple bank accounts across different banks. States and Corporate organizations utilize multiple bank accounts in several Banks for their daily financial operation, hence the need for a monitoring tool that will ensure that designated and authorized officials of the state are empowered to aggregate “scattered” accounts, have a view of the balances, perform desired analysis, move funds from one account to another, as well as make authorized payments to vendors, staff or contractors.
BAMS is the tool that will ensure that there are no bank accounts unaccounted for while also providing the capacity to generate customized reports of activities in the accounts as needed. Thereby, making State and Corporates free from several frustrations experienced when Banks intentionally delay transfers and salary payment instructions.
The key features of BAMS include;
BENEFITS Of BAMS
-BAMS is an efficient, convenient and easy method for:
– BAMS profers Ease of reconciliation.
– Movement of funds without any hindrances or delay from the banks.
– Gives feedback on transactions status in real time.
– Improved process efficiency
– BAMS Saves time and cost spent on verifying balances across banks.
– BAMS Calculates Tax deductions such as WHT, VAT, PAYE, Development levies and remit same to the appropriate authorities.
– The BAMS solution is highly secured as it rides on the Nigeria Inter-Bank Settlement System (NIBSS) to deliver its services.
Clientele on BAMS