Cash, but more intelligent: Accenture’s move to centralisation
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 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.
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