Photo of Onkar Liddar, Assistant Treasurer.
Onkar Liddar
Assistant Treasurer
Accenture is a US$43bn, globally dispersed professional services company of 400 operating entities and 500,000+ employees.
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Cash, but more intelligent: Accenture’s move to centralisation
The challenge
Accenture manages cash in more than 50 countries and 400 corporate entities, to include acquisitions and intercompany transactions, across 30-plus currencies. Corporate treasury must analyse each entity’s liquidity position to determine whether it needs to move, borrow or invest cash. This happens with different costs, risk impacts, time lags, and with a variety of options, creating challenging complexities for this international corporation. Accenture’s treasury needed a centralised, data and intelligence driven solution to optimise these massive forecasting and decision-making initiatives.
The solution
The team turned to technology and artificial intelligence (AI) to create a solution that would serve current and future needs. Known as the Intelligent Cash solution, it would ultimately help deliver a huge leap in forecasting capabilities, as well as provide professional growth opportunities for treasury teams by freeing up time to allow for more strategic activity.
In practice
The Intelligent Cash solution offers a near real-time feed, leveraging bank connections and statements to update SAP tables four times a day. This gives treasury teams accurate information in a timely fashion with intelligence-driven guidance so they can make decisions with a greater degree of accuracy and confidence.
Key benefits include
- Global view of cash activities; embedded AI recommendations on how to deploy funds more effectively.
- More accurate cash forecasts.
Thomas E. Rose
Vice President, Treasury Sales, Bank of America
Accenture manages cash globally and has hundreds corporate entities, to include acquisitions and intercompany transactions, across 30-plus currencies. Corporate treasury was challenged with managing each entity’s liquidity position to determine whether it needs to move, borrow or invest cash. This happens with different costs, risk impacts, time lags, and with a variety of options, creating challenging complexities for this international corporation. Driven by a culture of continuous improvement and innovation, the Accenture Treasury team leveraged Bank of America with the goal of a centralized, data and intelligence driven solution to optimize these massive forecasting and decision-making initiatives.
What Accenture was able to achieve:
- Global view of cash activities
- Embedded AI recommendations on how to deploy funds more effectively.
- More accurate cash forecasts
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