Optimizing Bank Relations Book ReviewPractical Guide to Managing Banking RelationshipsBy Leslie N. Masonson, Cash Management Resources In this newly published guide, Ken Parkinson pinpoints the key factors in dealing with banks regarding the overall relationship, especially understanding and negotiating bank charges. Author Ken Parkinson has a significant knowledge base of corporate cash management practices as evidenced by his impressive work experience and his previously published books on the subject. This 180-page soft-cover guide is best suited for new cash managers and treasurers, controllers and other financial professionals who have responsibility for banking relations but have limited knowledge of the subject matter. Divided into ten easy-to-read chapters, the material is presented in a logical and well-organized manner. One useful feature is the inclusion of lists of specific "action items" for the reader. This is basically a blueprint of key milestones to accomplish to maximize the banking relationship. In addition, the book is chockfull of useful checklists, forms, bank pricing, and lists that further detail the key components of the banking relationship. The two most in-depth chapters cover effective bank strategies and policies, and bank compensation. Parkinson presents many useful tips and insights that help the reader develop and implement effective actions to improve bank relations while reducing banking charges. Other key topics covered include: comprehending the current banking environment, understanding cash management and information reporting services, thinking like a banker, dealing with bank relationship paperwork and legal issues, using report cards to measure bank performance, changing banks an using the RFP process, using credit services, understanding future changes in banking services and relationships. In summary, Parkinson provides readers with highly practical guide to managing and optimizing the bank relationship. That is one subject that all cash/treasury managers must become expert in. This book provides the process to accomplish this task. |