Virtual ledger account

• Cut bank fees
  Open, close and modify as many VLA accounts as needed, without the cost of real bank accounts.  
• Make reconciliation more efficient
  Transactions on the underlying accounts are immediately allocated to the VLA account based on the invoice number and/or the VLA reference collected from the uploaded invoices and payee data files. 
• Manage inter-company loans
  VLAs provide a structured, streamlined framework for managing inter-company loans and related interest calculations. 
• Optimise cash flow and financial stability
  Improve cash forecasting accuracy, optimise liquidity management and make informed decisions regarding funding and investments. 
• Enhance treasury capabilities
  Complement treasury management systems by expanding their functionality and supporting operational treasury models, especially those with in-house banking capabilities.

• Efficient cash allocation
  Sub-accounts allow for precise cash allocation without physically segregating funds, streamlining treasury operations and optimising cash management. Standard allocation rules are available to optimise allocation to the right VLA account using incoming transaction data (MT/CAMT statements) as the underlying source for allocation rules. 
• Comprehensive visibility
  Provide a consolidated view of cash positions, allowing treasury to monitor and analyse overall liquidity effectively. 
• Reduced KYC workload
  Consolidate documentation, streamline verification and minimise the need for redundant KYC reviews for each individual account. 

Integration 

Our VLA module is an overlay solution that complements your existing treasury management systems or ERP, requiring no integration. It gathers data from bank statements, automatically generating reporting to streamline your internal processes. The VLA output can easily be used or input into your TMS/ERP for further processing, ensuring a smooth flow of information. 

Customisation 

Through ING’s interactive channel, InsideBusiness, treasury departments can set up a VLA structure in exactly the way they need. Our virtual cash management solution places a strong emphasis on self-service. 

Contact your ING representative and start further optimising your cash balancing.