To address these challenges, BCG defined five strategic objectives: achieve global cash visibility to enable informed, data‑driven decision-making; optimise liquidity through enhanced cash pooling automation and the release of trapped cash; improve FX risk management by implementing a modern treasury management system (TMS); streamline banking connectivity and payments and future-proof the treasury function with embedded automation, AI and machine learning.

The treasury team executed a multi-phase transformation focused on integrating best-of-breed technology, automating workflows and centralising treasury operations. To achieve real-time cash visibility, BCG partnered with Fides to centralise bank statement data from more than 90 banks, automating reconciliation and improving reporting. The company adopted ISO XML standards and introduced a Corporate BIC for Swift connectivity, ensuring standardised financial communication across treasury operations.

BCG implemented Reval, a SaaS-based TMS, to modernise its FX risk management, trade execution, exposure analytics, cash management and accounting. BCG’s move to SAP S/4HANA Public Cloud edition represented the largest public cloud deployment in the professional services industry, streamlining payment processing, security and compliance while further advancing BCG’s treasury technology landscape. The company also made a commitment to operating model improvements by beginning the transition from decentralised country-specific cash management to centralised regional treasury centres (RTCs), starting with a pilot in North America. The company doubled participation in its global pooling structure and established an innovative Middle East cash pooling structure, unlocking tens of millions of US dollars in liquidity. Automation played a key role in improving efficiency. Cross-currency payments were fully automated in many countries, improving FX margins while reducing manual intervention. BCG built real-time dashboards with Tableau, improving treasury analytics and forecasting. AI-driven models will be implemented to enhance liquidity forecasting and hedge management. This transformation has fundamentally reshaped BCG’s treasury function. BCG wishes to recognise the vital contributions of its strategic partners and its world-class banking group for their contributions on this continuing journey.