• Corporate Treasury Benchmarking

    Compare your business against others and be part of the programme to create industry-wide best practice. Treasury Today first introduced Corporate Treasury Benchmarking in 2009 and your response has been amazing – almost 3,000 respondents across five regions since our first Study.

  • Photo of Manish Kapoor and Alok Bafna from Bharti Airtel and Barbara Harrison, Citi

    Bharti Airtel Ltd, Highly Commended, Best in Class Benchmarking

    The telecoms industry is one of the newest and fastest growing markets in India but with business conditions that are constantly changing, benchmarking processes are a vital step towards increasing operational efficiency. Bharti Airtel sought to achieve its benchmarking goals by means of establishing a Shared Service Centre (SSC).

  • Photo of Andreas Hartmann

    SAP AG, Winner, Best in Class Benchmarking

    SAP was awarded the ‘Best in Class Benchmarking’ accolade in 2012 for overall working capital management. This winning project, led by the company’s global treasury, was set up to improve the way the company used its working capital. The scope of the project was not limited to improving financial data, but was to include other areas, such as remuneration schemes. One of the most important aspects of the project was to increase transparency over the company’s processes. This was done by measuring changes using scalable Key Performance Indicators (KPIs).

  • Photo of Jörg Bermüller and Thomas Eberle, Deutsche Bank

    Merck, Highly Commended, One to Watch

    Each of Merck’s subsidiaries is responsible for their own guarantee for business transactions embarked upon in their particular locality. Issued by financial institutions, bank guarantees are needed for tender participations, required by customs and tax authorities, and are a prerequisite for any operational business.

  • Photo of Google Headquarters

    Google, Highly Commended, One to Watch

    Every quarter, Google’s accounting team had been downloading excel-based gain/loss reports from State Street custody accounting, filtering and selecting items for more detailed review. Liaising with the treasury risk and portfolio teams, the company’s accounting department then followed up with external managers and their own research to manually identify credit events. This process relied on a relatively arbitrary review threshold and the ability of the various treasury teams to appropriately identify credit-related events. It also depended on accounting and risk professionals to successfully evaluate the impact of those events on observed declines in fair value. These dependencies were costly, not only in terms of time and effort, but also with regard to risk or error and lack of visibility.

  • Photo of Max Pell, Xchanging, Daniel Ferguson from RSA Insurance accepting on behalf of William McDonnell, Paul Duffy, Deutsche Bank

    RSA Insurance, Winner, One to Watch

    Inefficient operations and processes left RSA, like many market participants, dealing with the challenges of excessive liquidity, counterparty default risk, and complex reconciliation and settlement processes. With the ability to write premiums in around 140 countries, the company also experienced limitations in the management of currency variations. “The Sorrento initiative is aimed at addressing the systemic issues that arise from these ineffective processes and delivering market-level improvements in operational efficiency, transparency, control and capital efficiency,” explains William McDonnell, RSA’s Group Financial Controller.

  • Photo of Andrew P. Reid from Deutsche Bank accepting on behalf of Sany Group with Eleanor Hill

    Sany Group, Highly Commended, Treasury Today in China

    Sany Group is currently ranked among the top 500 companies in the world with a presence in more than 150 countries. Since its humble beginnings in 1989, the company has grown into a global construction machinery corporation with five industrial parks in China, four research and development (R&D) and manufacturing bases in America, Germany, India and Brazil, and 21 sales companies around the world. Currently, Sany employs about 70,000 people cross the 150 regions in which it has operations.

  • Photo of Fabian Boklage

    Henkel, Winner, Treasury Today in China

    After years of having a debt laden operation in China, Henkel has been generating strong cash flows in the country since 2009 and has found itself with surplus cash to invest. “Faced with unpredictable regulatory conditions and a rapidly changing economic environment, Henkel needed to overcome the challenge of managing its cash surplus more effectively,” says Fabian Boklage, Regional Treasurer, Asia Pacific. “The company’s cash management strategy, which is underpinned by an RMB pooling solution, centred on two core concerns,” he explains.

  • Photo of Sven Matzelsberger, Joana von Krüger and Peter Schädelbauer

    Lindner Finanz, Highly Commended, Best Process Re-engineering Solution

    The Lindner Group operates globally with more than 40 companies. Due to the steady growth of the group and its international expansion, the finance department had to evolve quickly and efficiently. Until 2006, there was a banking department that focused on clearing. In 2008, the first treasury management system was introduced group-wide.

  • Photo of Karen Fagan and Richard Martin, Barclays

    ITV, Highly Commended, Best Process Re-engineering Solution

    ITV plc operates a business service centre which manages multiple bank accounts in approximately ten currencies. There was a great deal of manual processing involved in the day-today processing of treasury transactions and the confirmations process was extremely time consuming. International bank statements were sent by the different entities to the treasury department but this could be on a weekly or monthly basis. The company’s cash pool set up was also extremely complex, with a large number of varying balances on each of the accounts across the pool.