Chesapeake provides industry-leading, end-to-end account reconciliation software and financial solutions that seamlessly integrate cash management/treasury with general ledger account reconciliation, account analysis, and regulatory compliance functions. Information-sharing across all applications optimizes funds management, improves the financial close process, increases the efficiency and accuracy of general ledger account reconciliation, and simplifies compliance by enforcing company policies and procedures and financial regulations. Chesapeake solutions deliver actionable information and productivity improvements that can benefit a wide range of organizations, yielding tangible ROI from your software investment. From retailers to banks and financial services organizations to insurance companies, Chesapeake solutions help minimize risk, reduce costs, and maximize profitability.
A control framework for governance, risk management, and compliance. T-Recs helps organizations improve risk management, assess the effectiveness of controls, measure ongoing performance, and support accurate financial reporting. T-Recs brings visibility and control to account reconciliation, financial reporting, workflow management, financial oversight, and close.
The ideal solution for managing and controlling treasury activities. SmartTreasury performs as an integrated workstation designed to handle wide-ranging corporate treasury functions and offers built-in accounting and auditing functions, accommodating both daily processing needs and regulatory compliance requirements.
Helps you search, report and comply with state escheatment requirements. UPCS produces personalized search letters so you comply with owner notification rules, and generates unclaimed property reports for all 54 jurisdictions.
A powerful tool for analyzing commercial bank fee data across all your banking relationships. SmartAnalysis compares actual and expected charges, highlights discrepancies, and verifies application of volume discounts. Sophisticated "what-if" functionality helps you identify and negotiate the best combinations of price and service in all your banking relationships.
A relationship management tool that boosts the power of SmartAnalysis. SmartAnalysis RM organizes and documents your financial relationships and provides global one-step editing of account details. By organizing key information such as contact data, target balances, account criteria, and cut-off dates in a single location, SmartAnalysis RM simplifies updates, reduces potential fraud, boosts productivity, and speeds reporting.
An incomparable banking data exchange tool. IDM automates the Internet retrieval of financial data, reducing the expense and effort associated with data acquisition, and minimizing the possibility of fraud. IDM, which involves no special authorizations or additional bank fees, puts you in control of data retrieval.
Chesapeake delivers a full range of specialized, "best-practice" implementation services including definition of requirements, project planning, system design and development, installation and testing, and user training. After implementation, our personalized customer support service is there for you, offering staff experts who are familiar with your application and committed to seeing successful resolution of any issues that might arise.
Outsourcing provides the most effective way to minimize operating costs and maximize profits by turning over non-core business processes to Chesapeake, a specialist with the staff, facilities, and expertise to perform these functions more economically and efficiently. Outsourced services vary by Chesapeake product offering, but all deliver the savings and expert handling customers expect of the Chesapeake name.
Premium Maintenance Plan
To maximize the value derived from your investment in our software, Chesapeake offers customers a premium maintenance plan offering higher-level services specific to your firm and its unique business needs. Our experts will work with yours each month to leverage the power of our software in your operations through expert analysis and review. Premium maintenance plan services vary by Chesapeake software product.
You can view demonstrations of our products online. For quick and easy access, call our corporate headquarters at 410-356-6805 or contact your Chesapeake sales executive.
Chesapeake’s goal is to provide solutions that are specifically tailored to your business requirements and strategy. But those solutions extend beyond state-of-the-art software. They incorporate expert implementation services to deliver a system that suits your exact needs. The expertise we have gained from successful implementations in a host of industries provides insight into best implementation practices. This allows us to help you avoid process, installation, and operational missteps that often plague new system projects. From initial planning through final user training, Chesapeake experts support every phase of your implementation process.
Support Every Step of the Way
We begin by assigning an implementation specialist who will coordinate with your project team for implementation planning, product installation, and end-user training. An expert in the Chesapeake product you’ve chosen and the financial process you are automating, our specialist serves as the focal point for the project and is your contact for all questions, whether technical or procedural. He or she solicits other Chesapeake expertise as required and works with you every step of the way as your new system is brought to life.
First, we define your unique requirements. We work with your project team to understand your business processes and share the experience we have gained with regard to best practices in your industry. Then we define and document your particular requirements to serve as the foundation for carefully crafting a system that precisely suits your needs.
Next, we develop a detailed project plan. This detailed project plan, which includes specific roles and responsibilities, ensures that each requirement is effectively addressed. Jointly, we define components like your accounts, match rules, import and export definitions, and reports to automate your processes most efficiently. In addition, working with our consultants, your staff will acquire detailed information that will allow them to maintain the system and realize its full benefits.
Then, we build, test, and install the system we’ve tailored for you. Chesapeake builds your client database at our offices, defining your accounts, assigning business rules, and tailoring reports. When the resulting software has been thoroughly tested, our technical experts install it in your environment and perform on-site retesting and verification to ensure it continues to provide the correct results.
Finally, we train your staff to use your new system to its best advantage.
We conduct on-site training at your location, using your data, to equip your staff with the knowledge it needs to minimize the transition to the new process.
In addition to on-site training, Chesapeake also offers:
End-user training classes, held either at your site or in our offices, at a time of your choosing. During classes, which are customized to address your unique needs, we discuss and practice the most commonly used procedures and answer frequently asked questions.
'Train the trainer' sessions that are designed to prepare a member of your staff to train other employees in the use of your Chesapeake product.
Monthly Online Training, which presents product features and functionality in a forum that fits easily into an employee’s ongoing work. The task-oriented training is followed by question and answer forums. Online training sessions are ideal to get new employees up to speed quickly, or to enhance an experienced user’s skill.
Annual User Conference training classes, which allow your staff to combine training with informative sessions and valuable networking time with other users and Chesapeake staff.
We also offer Web-based SmartSupport through the exclusive "Clients Only" area on the Chesapeake Web site. Here you can complement telephone and e-mail support with:
Technical bulletins that update you on product enhancements
Successful companies seek ways to minimize operating costs in order to maximize profits. When it comes to business processes unrelated to your core revenue-generating activities, a specialist typically can perform these functions more economically and efficiently. This is the premise behind outsourcing, and the reason why most firms outsource at least one function.
Cost often predominates decisions to outsource. It is expensive to hire, train, and retain staff with the expertise needed to perform specialized tasks. Also, it is costly to acquire the automated tools and facilities needed to support these functions and then hire, train, and retain the staff to oversee the maintenance and update of IT systems. Such infrastructure investments diminish a company’s ability to invest in core activities, which can affect profit. Service providers already possessing the tools, facilities, and specially trained personnel can provide these functions at a fraction of the cost due to economies of scale. A company benefits by turning fixed costs into variable costs and by minimizing risk related to critical tasks by placing them in expert hands.
Chesapeake understands your need for expertise when it comes to automated general ledger reconciliation, account analysis, and compliance, especially unclaimed property reporting. Our staff are subject-matter experts in these areas and understand both the processes involved and the governing rules and regulations. Further, Chesapeake knows IT. Our facilities are state of the art, secure, and backed up in the event of disaster, freeing customers from maintenance, software updates, and user issues. In some cases, outsourcing can totally eliminate the need for in-house processing facilities and staff.
Outsourcing your business processes to Chesapeake can help your firm
Focus on your core activities secure in the knowledge that all requirements/deadlines will be met
Improve your internal processes under our expert guidance
Improve risk management
Respond more rapidly to changing business conditions
Lower costs and better control your budget
Leverage the latest technology with utmost data security for your business
SmartAnalysis is the most powerful, comprehensive, customer-friendly commercial bank fee analysis software on the market. Regardless of how many accounts you maintain, or how many banks you use, SmartAnalysis can download, analyze and verify bank fee data in minutes. What’s more, SmartAnalysis presents data to you, on demand, in well-organized windows that make comparative analysis easy. SmartAnalysis automatically identifies discrepancies, tracks refunds due and pinpoints overcharges.
“What-If Manager” Supports Fee Management
The exclusive “What-If Manager” allows users to create an unlimited number of banking scenarios to determine and negotiate the best combination of prices and services. Using actual data, SmartAnalysis projects the effect of changes in volume, pricing and bank relationships with the click of a button, without permanently affecting the actual data used as a baseline. In addition, SmartAnalysis can evaluate fee differences within one bank or among several, using our user-defined comparison codes, and even compare industry-standard pricing against current or proposed banking relationships. In short, SmartAnalysis makes it easier to develop the comparative information needed to negotiate the most favorable service options and pricing contracts.
Flexible and Easy to Use
SmartAnalysis puts data from every account and banking relationship into a single, comprehensive format. This “side-by-side” display allows straightforward comparisons and highlights trends in volume, pricing and service types across all accounts. SmartAnalysis translates disparate fee structures from bank to bank into standard itemizations for quick evaluation. Navigation is straight-forward and intuitive, a “point-and-click” environment makes resolving outstanding discrepancies simple. Multiple sort categories, including by bank, account, service code/description, date range or amount, simplify efforts to query for precise information. SmartAnalysis includes comprehensive end-user and management reports as well as a report writer that makes it easy to produce customized reports. SmartAnalysis supports the Electronic Bank Account Management (EBAM) initiative, in which more corporations and banks are connecting through SWIFT to easily update, open and adjust accounts. This eliminates some of the initial paperwork, and allows users to refer back to contractual information, and promote the electronic request format.
Promotes International Expansion
Chesapeake is actively adopting international banking codes and statements formats such as TWIST, making SmartAnalysis an ideal tool for companies expanding into the global marketplace. Furthermore, SmartAnalysis has the ability to utilize user-defined comparison codes, which normalize inconsistencies across international banks.
SmartAnalysis Key Features:
·Compares services from one or more banks against negotiated pricing agreements.
·Offers a “What-If Manager” that allows users to do side-by-side comparisons, forecasting and budgeting.
·Flags bank errors and tracks refunds and credits.
·Automatically allocates expenses and posts charges to the General Ledger.
·Provides user-defined queries to look at specific data points.
·Facilitates efficient bank fee budget evaluation.
·Highlights dormant, overdrawn, under-utilized or service-ridden accounts.
·Tracks costs across multiple business units for accurate division of expenses and profitability measurement.
·Provides detailed audit trails showing updates and compliance adjustments.
·Presents a user-defined Executive Dashboard, with graphs and charts that show metrics focused on your various banking relationships and individual service charges.
·Accepts international bank statements in TWIST format.
·Tracks daily volumes, allowing users to confirm that month-end charges reflect actual use on demand
Implementation: The Choice Is Yours
•Licensed SmartAnalysis: Firms wishing to keep IT functions and bank-fee analysis in house can license and implement SmartAnalysis. The application operates in a platform-independent environment, and Chesapeake offers "worry-free" implementation services backed by an unparalleled customer support staff.
•Hosted SmartAnalysis: This cost-saving option eliminates the need to install and maintain the software. Chesapeake hosts the application in our modern, secure data center, and you upload your files and access SmartAnalysis locally via the Internet. Chesapeake’s advanced browser functions make data upload and system use as seamless as installation on your own server. Chesapeake applies all system enhancements and regularly updates the database with changes.
•Outsourced SmartAnalysis: Firms wishing to reap the benefits of outsourcing can do so with confidence, knowing that Chesapeake offers an outstanding turnkey solution. Our dedicated staff possess IT, banking, and analysis expertise and understand current trends in bank customer services. Our secure data center offers advanced technology, freeing you from system administration responsibilities and the costs associated with software purchase, training and staffing.
Each month, Chesapeake’s outsourced bank statement analysis function will include:
•Bank file retrieval
•Report production, identifying by bank
•Identification of price adjustments
•Recommendations regarding service fees
•Regular meeting to discuss report content and action items
•Premium Maintenance Plan Available
Chesapeake’s objective is to maximize customers’ use and understanding of the rich functionality SmartAnalysis brings to their treasury operations and explore other ways the company can leverage the application in its operations. Toward this goal, Chesapeake offers a premium maintenance plan for companies seeking to take bank-fee analysis to the next level. It includes
•Reviewing discrepancy process and resolution
•Reviewing bank confirmations
•Reviewing negotiated pricing and comparing to national standards
With SmartAnalysis, you’ll see things more clearly. To find out more about the benefits that SmartAnalysis can deliver to your financial operations, click the links below.
Click HERE to contact us or call 410-356-6805 for more information.