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In seeking to generate improved working capital, BAT wanted to achieve straight through processing, automation and the flexibility to be able to release working capital when needed, even to counterparts with whom it had no existing credit relationship. Here’s how the company did it.
Legacy system inefficiency, customer expectations and regulatory pressure were among the drivers for Baloise to bring its infrastructure up to date. Here’s how it achieved so much more.
Microsoft has created ‘Payment Solutions as a Strategic Business Partner’. This flexible solution incorporates many facets but is already making great headway with customers.
The John Lewis treasury team challenged its investment policy and worked with its partner to find alternative short-term investment solutions that make its cash work harder.
IAC has implemented a multi-entity, multi-currency notional pool that has delivered tremendous benefits and helped the company meet its aggressive growth strategy around the world.
Iberdrola’s unique solution gives it centralised liquidity and a genuinely global view of the company’s cash through one global platform. This has resulted in the more efficient management of currency flows and mitigated the number of intercompany loans it has to make, both of which have led to cost savings.
Grifols decided to implement a single SAP enterprise resource planning system for the entire Grifols group of companies. To date, 14 countries are using the system with another four ready to come on line. To gain more control over liquidity, it established a single-entity multicurrency notional pooling scheme located in the UK with sweeping structures to concentrate liquidity from local accounts of their business entities. This allows the company to manage its cash positions in various currencies more efficiently.
The most impressive aspect of this initiative has been the remarkable speed in which it has been accomplished. For a company of this size and global scope to have completed such a significant treasury transformation within a two-year timeframe is simply put – remarkable. A combination of strong leadership, a keen vision for how significant treasury improvement could be achieved, and a fruitful collaboration between ASICS’s treasury team and J.P. Morgan’s team at both headquarters and regional levels was key to the success.
For several decades, ConocoPhillips’ cash management and banking functions, which included cash positioning, investments, foreign exchange trading, bank account administration and debt administration, were split between the company’s headquarters in Houston and offices in London. This project migrated the entire cash management and banking team to Houston in just six months.
The Trump administration was quick to deliver on its promise to slash America’s corporate tax rate from 35% to 21% and prolong the economic expansion. Yet US treasury and finance professionals appear keener to sit on their increased cash holdings for now, rather than harness them for hiring and investment.