Viatris’ achieved its treasury transformation by:

Leveraging Technology

• Design and implementation of centralised global cash dashboard utilising existing data sources and technologies.

• Timely visibility of global cash (daily) to enable a more controlled and efficient decision-making process.

Maximising Liquidity

• Implementation of innovative approaches to centralise cash such as notional pooling, OBO and cash concentration.

• Immediate and continuous access to liquidity for investment purposes (increase annual interest income).

Governance and Controls

• Reduced counterparty risk associated with direct management of cash by Global Treasury Operations.

• Bank fee reduction and released FTE capacity resulting from less administration and management of a more efficient bank account structure (signatory review/update, internal and external audit).

Streamlining and Standardising

• Continuous education and enforcement of a global cash efficiency culture through various channels (eg ‘Employee Engagement’ session, Finance and Business Services Town Hall and weekly “Cash Task Force” forums).

Viatris wanted to ensure a continuous focus on efficient cash management not only from within the treasury function but also across multiple functions and entities throughout the company’s 300 legal entities.

“For this to be successful we needed to form a creative and collaborative core project team within Global Treasury Operations and Treasury Centre of Excellence that could break the mould and establish an enterprise-wide cash culture,” says Keith Lynch, Senior Director, Treasury Centre of Excellence who adds that data, education and culture were essential components in the transformation and helped ensure the success of the project.