Virtual cash management

Today, treasury teams want real-time information about their cash positions at their fingertips. Our virtual cash management (VCM) solution does exactly this, providing you live on-screen consolidated cash positions from international subsidiaries and other entities in the kind of detail never before possible.

Our solution provides you with a next-generation platform centered around your needs:

  • Improve cash visibility, access and reconciliation
  • Centralise multi-entity cash and transactions
  • Rationalise bank accounts
  • Timely and better strategic decision making regardless of the current financial IT landscape

Watch our introduction video to virtual cash management:

Virtual cash management is a next-generation cash and liquidity management platform centred around treasurers’ current and future needs. Designed to help your treasury team reach the next level optimisation, VCM facilitates centralised management of payments and real-time cash concentration – without the significant cost or complexity that is traditionally associated with such goals.
The VCM solution combines a virtual bank account (VBA) structure with virtual ledger accounts (VLA) displayed in an advanced cash management dashboard, offering you a group-wide view of cash positions, payments and collections across geographies, entities and currencies - as well as enhanced reporting functionalities. 

ING VCM offers your organisation several benefits.

From a cash visibility and availability standpoint:

  • Full, group-wide visibility and control over payments, collections and cash
  • Real-time visibility on cash positions
  • Maximised yield
  • Reduced idle cash
  • Elimination of local borrowing facilities with a central one

From an operational efficiency point of view:

  • Integration of cash with short-term investment decision making
  • Reporting of aggregate cash and liquidity positions across geographies, entities and currencies
  • Increases STP and STR – providing a sophisticated invoice matching engine and enriched reporting
  • Direct access to reporting for managers and local treasury

From risk and control perspective:

  • Centralised cash and risk management
  • Monitoring and management of intercompany term loans
  • Harmonised reporting and full transparency
  • Customisable user profiles
  • Audit trail of liquidity management across the Group

From a technology perspective, it:

  • Requires no software implementation.
  • Offers customisable, enriched reporting.
  • Provides near real-time information.
  • Works regardless of IT set-up, integrating seamlessly with the treasury department’s existing IT infrastructure.
  • Provides a self-service, multi-bank cash management dashboard.

VBA module

VBA module is a real-time cash consolidation platform providing you easy access to crucial information that in turn reduces idle cash and allows effective management of funding levels.

A VBA, with properties comparable to traditional IBANs, enables you to manage payments and cash concentration across the ING network using a single ‘master’ bank account within your treasury hub. All payments, incoming and outgoing, are real-time routed in-country or cross-border via these accounts to a linked ‘master’ current account. As such, providing you real-time view on cash positions that leads to better short term investment decisions and yield maximisation.

VLA module

The VLA combines one physical bank account with an accounting sub-ledger that is uniquely configured to the needs of the corporate for segregating cash flows. This one-to-many model can be as simple as two sub-accounts, or more granular to reflect the account setup of corporate general ledger.

One of the main benefits of VLA is that cash can be earmarked as belonging to a particular virtual account. This means that corporates can automatically allocate funds without needing to segregate them physically. By segregating cash virtually rather than physically, you achieve continuous real-time cash consolidation, reduce reliance on intraday credit and more efficiently manage transaction flows and liquidity.

Through the VLA module, you can now access live on-screen consolidated cash positions from international subsidiaries and other entities, and in the kind of detail never before possible. This centralised reporting provides consolidated as well as detailed views on cash positions across regions, entities and currencies.

The VCM modules bring much needed transparency, control and standardisation to your cash and intercompany lending operations. On the VCM platform, you can setup, define and manage as many virtual accounts as required by the business. You can also organise account hierarchies as you see fit.

As VCM supports timely, informed decision-making it assists treasurers in delivering strategic value, drive business performance, and increase overall efficiency.

Why partner with us

Our purpose is to empower people to stay a step ahead in life and in business. So whatever your financial needs, whether you are looking to expand and want strategic advice, or just want to make your day-to-day banking more efficient, we are here to support your business ambitions.

  • Serving corporate clients and financial institutions in over 40 countries.
  • We pair local and global insight with sector knowledge with financial expertise.
  • We are ranked as a leader in sustainability and we are included in the FTSE4Good Index.
  • Euromoney

    Best Bank for Transaction Services in W. Europe

  • Global Finance

    Most Innovative Bank in Western Europe

  • Global Finance

    Best Bank for Cash Management in W. Europe