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.
