In today's world of lean treasury staffs and tight liquidity management, getting information even an hour earlier is nothing to sneeze at. So Kimberly Kruczek, treasury manager of $12 billion Parker Hannifin, isn't sneezing. Since Aug. 22, she has been getting a single, final disbursement presentment by 9 a.m. ET from KeyBank, where the company has its controlled disbursement accounts (CDAs). "It is important," Kruczek says. "We can't complete our cash position without the final controlled disbursement account totals. Getting that done earlier allows us to invest or borrow sooner and frees up my morning for project work."

While banking technology has changed, the schedules at most banks have stayed the same for many years. Jim Graves, Key's senior vice president and core services team leader, says the bank essentially converted to receiving image files of checks drawn on Key accounts in 2009, picked up a few stragglers in 2010 and is now 100% image-based. "We've been getting the files earlier," Graves says. "Now we're delivering the data earlier."

A company that writes checks from a controlled disbursement account is informed each day of the value of checks presented, which it then funds. Prior to Aug. 22, Key CDA clients were receiving the standard two presentments, at 8 a.m. and 10 a.m. Now they get just one, at 9 a.m., and it's final.

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