Cash management optimisation
A three-phased approach was adopted to improve the cash management in Indonesia. Under Phase 1, payment operations for 16 warehouses and 22 plant factories were streamlined by aggregating the funds from several locations to a centralised location. The flows were migrated from 33 accounts with a local bank to two accounts with a core bank. This improvement in account structure led to greater efficiencies such as lower bank commissions, reduced administrative and reporting efforts, increased visibility and control through the centralised regional profile and even reduced counterparty risk at company level. Through the migration, the team was able to revisit existing ways of working and develop a compliant payment creation method.
Phases 2 and 3 are ongoing efforts with the local treasury team to rationalise the collection accounts and automate the payment execution process.
Do more with less: innovation in treasury
While exploring new digital capabilities for the region, Gwen kept in mind the predominant aim to do more with less. She recognises the importance of utilising digital tools to ease the local treasury teams in their cash management and banking responsibilities. Below are some projects which were deployed regionally:
- SWIFT KYC Registry.
- SWIFT gpi.
- Citi Payment Outlier Detection.
Gwen’s other notable accomplishments include implementation of the supply chain financing process in Singapore through close collaboration with procurement, payables and banking stakeholders and overseeing the move of operational activities in the region to the shared service centre in Kuala Lumpur, Malaysia.
Continuous improvement mindset
Gwen firmly believes in continuous learning and the value of knowledge sharing among treasury members to deliver results. She carries a continuous improvement mindset and is constantly seeking ways to add value to the company. Her fresh perspectives and ability to share her thoughts whilst securing support from her colleagues cutting across various divisions have added significant value to Danone. The company has improved operational visibility, control and standardisation with Gwen’s aptitude at work.
