Virtual accounts

June 2022 "The benefits of virtual accounts" was the title of an article written by Stefanie Buhtz and Torsten Rösner in the current print edition of the leading "DerTreasurer“ business magazine. The two cash management experts at Hamburg Commercial Bank delve into the countless benefits of virtual accounts in the article.

Virtual accounts are becoming increasingly important, due to advancing digitalization together with increasingly granular payment transactions. In areas such as real estate and health care in particular, with the inherently large numbers of simultaneous incoming and outgoing payments, virtual accounts reduce complexity considerably—and significantly reduce costs, such as in large real estate companies, which need to quickly and correctly enter thousands of rental payments every month. "The billing system is optimized and entries are simplified," writes Stefanie Buhtz, Head of the Cash Management Sales department at Hamburg Commercial Bank, in the "DerTreasurer" article. "DerTreasurer" describes itself as a leading medium for treasurers and financial executives in the German-speaking region. Since 2007, the publication's fortnightly e-magazine and quarterly print edition has provided regular updates on current trends in the treasury. Its readership has grown to more than 9,500 financial executives in companies and banks, as well as service providers and consultancies.