Harnessing the Power of Technology Winner: Sony Group Corporation

Published: Jan 2024
Photo of Takehiro Yagi, Sony Group Corporation and Desmond Ong, J.P. Morgan.

Photo of Takehiro Yagi, Sony Group Corporation and Desmond Ong, J.P. Morgan.

Takehiro Yagi

Senior Project Manager, Finance Dept.
Sony Group Corporation

Sony Group Corporation is a creative entertainment company with a solid foundation of technology. Across its six business segments – Game & Network Services; Music; Pictures; Entertainment, Technology & Services; Imaging & Sensing Solutions: and Financial Services – Sony’s purpose is to fill the world with emotion through the power of creativity and technology.

in partnership with

J.P. Morgan logo

Digital dashboard viewable in real-time

The challenge

Sony Group Corporation has a vision of capturing its real-time cash balances across the entire group. But with more than 1,000 bank accounts maintained with global and regional banking providers, this vision was highly challenging. This was due to Sony’s current process which required each group company to manually access the e-banking portals of each financial institution while also depending on bank statements that show cash flows only at the end of each day.

The solution

Sony turned to J.P. Morgan and in April 2023, deployed a revolutionary embedded digital channel solution that allows Sony to capture its global cash positions, FX and counterparty exposures across entities and banks in real time, through a single view via its TMS.

Powered by application programming interface (API) technology and available as a plug-and-play tool, the market-leading solution comes in the form of an intuitive, real-time dashboard that makes use of visual graphs and charts to paint clear pictures of Sony at any point of the day.

The first batch of J.P. Morgan accounts were successfully integrated into the TMS within just four weeks, and the second batch followed in five weeks.

The state-of-the-art solution has generated quick but significant efficiencies for Sony’s HQ treasury, including enhanced management of its global liquidity, FX and counterparty risks to accelerate and improve decision making.

The simplicity of the plug-and-play solution has further contributed to Sony’s digital transformation in a short span of time, with minimal IT resourcing.

Sony has deployed the solution in 16 markets as follows (with more locations to be included in the future) – Singapore, Japan, Hong Kong, the US, Canada, Mexico, UK, Ireland, France, Luxembourg, Spain, Switzerland, Austria, Belgium, Germany and the Netherlands.

Holistic view of Sony’s digital dashboard viewable from its TMS portal

I am delighted and greatly honoured to be awarded the award for the Overall Winner of the Harnessing the Power of Technology in the Adam Smith Awards Asia 2023.

It really is a remarkable achievement, because Adam Smith Award Asia is such a prestigious award that everyone is aiming for! It motivates everyone involved toward the Sony’s global treasury transformation.

Takehiro Yagi, Senior Project Manager, Finance Dept. of Sony Group Corporation

Best practice and innovation

Sony is one of the first corporates in the region to deploy a revolutionary API-powered, real-time consolidated dashboard to improve global cash visibility – marking another significant milestone towards Sony’s digital transformation and further revolutionising the way corporate treasury is managed. The achievement also further reinforces Sony’s position as an industry leader in adopting new technologies and best practices to re-architect and run its treasury.

The powerful embedded digital channels solution will make it possible for Sony to view, track and manage its entire global cash, FX and counterparty positions across global banking providers through a single, holistic digital dashboard accessible within its own TMS platform – assisting Sony in realising its vision of capturing its real-time cash balances across the entire group. The integration will generate substantial financial and operational efficiencies for Sony, including optimised liquidity management and enhanced decision making to support the growing needs of its business.

Furthermore, while a typical TMS development can take months, Sony successfully rolled out the solution for its first batch of accounts within an accelerated timeline of just four weeks, with minimal IT resource – a feat made possible through the close collaboration between the teams at Sony and J.P. Morgan.

Key benefits

  • Cost savings.

  • Number of banking partners/bank accounts reduced.

  • Process efficiencies.

  • Return on investment (ROI).

  • Increased automation.

  • Risk mitigated.

  • Improved visibility.

  • Errors reduced.

  • Manual intervention reduced.

  • Increased system connectivity.

  • Future-proof solution.

  • Exceptional implementation (budget/time).

“Integrating the powerful real-time dashboard into our TMS positions the platform as a future-proof treasury system that our group companies will be able to rely on for years to come. More importantly, it marks another significant step in contributing towards the long-term growth of the company by unlocking the potentials of our digital and global treasury transformation.”

Takehiro Yagi, Senior Project Manager, Finance Dept. of Sony Group Corporation

Desmond Ong

Regional Head of Digital Channel, J.P. Morgan

One of the key challenges of API adoption is often data modelling, integration and IT resourcing. Embedding digital solutions into the client’s ERP ecosystem has accelerated and simplified the adoption of real-time cash reporting for Sony. The seamless experience of Sony having a real-time digital dashboard has enhanced the cash visibility and better FX risk management. This success was achieved with strong collaboration and partnership between Sony and J.P. Morgan. We are honoured to be given the opportunity to be part of the transformation journey.

in partnership with

J.P. Morgan logo

The Adam Smith Awards Asia is the industry benchmark for best practice and innovation in corporate treasury. The 2023 awards attracted 450 nominations. To find out more please visit treasurytoday.com/adam-smith-awards-asia

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