Best practice and innovation
An important aspect of the Roche treasury mission is to maximise its existing investments in technology and realise all potential benefits available from the integration of their SAP financial system and their financial communication network provider, SWIFT.
The investment solution is automated to the maximum possible, but supported by a workflow process and a four-eye sign-off principle for the cash payment, to secure and track the different status of the cash flow.
The process of adopting the new ISO 20022 compliant MX messages is now expected to be a smooth transition for Roche, given the success of this project. The challenges of integration and automating new processes, procedures and third parties have already been resolved and Roche is now ready for the future, with the confidence that it has already paved the way for embracing new standards and the benefits that these will bring.
“From our point of view, this project has been a success and we can see the value of our investment. Our relationship with our technology partners continues to develop and is enriched by successfully delivering innovative solutions like this,” said Brähler.
The impact of the timing of the SWIFT decision to migrate MT messages to MX messages to conform to ISO 20022 could have had a negative impact on the project and to even be a ‘show-stopper’, but with the extensive treasury process and finance technology knowledge combined with a close collaboration with SWIFT, the project was successfully delivered within a short time frame of six months.
Integrates seamlessly with existing SAP system, ensuring timely updating of financial records.
Automates Roche buy and sell orders with chosen money market fund providers.
Enables daily investment performance management and tracking.
Extends Roche’s use of industry-recognised financial messaging standards.
Ensures flexibility and control over their investment portfolio.
Key learning points
The right centralised strategy, in house treasury technology expertise and a long-term partnership with SWIFT were the success factors for this project. It was all about connecting the right people on many ends to overcome the major hurdles along the implementation path.