7th February 2019 – TenCate Grass Holding is the global leader in the development, production and marketing of synthetic turf components used to produce artificial grass for sport, leisure or landscaping. The company has an active acquisition strategy and is growing fast in Europe, USA and Asia Pacific.
The challenge of growth
As a result of the fast growth, it became more and more time intensive to maintain an overview of the consolidated liquidity position and embedded risks. To improve this process and prepare for further growth, management decided to invest in a best-in-class treasury solution. The global treasury function is based in the Netherlands and is managed by the CFO, Mr Teekens. Trinity’s web-based TMS solution was chosen after an extensive review process. Mr Teekens comments: “I have worked with other TMS-systems but during the first demo I noticed that Trinity offered at least what I was used to, especially in the reporting- and liquidity planning area, but even more important, I saw that the system was very user friendly and therefor easy to learn for employees not 100% familiar with using a TMS.”
Functionalities
With the liquidity planning tool, TenCate Grass has created its own forecast structure. The regional controllers use an Excel sheet to upload the data, allowing the treasury to get a consolidated view on liquidity. The variances (e.g. actual vs forecast) can be analyzed in two ways; over time or per category. The bank balances are automatically uploaded in the system allowing TenCate to have a clear view on the global cash position. Trinity is also used to manage the intercompany loan portfolio, the global netting process, the FX exposure and the tracking of guarantees.
Implementation
The solution was implemented by Trinity’s regional partner. To optimize time spent, Trinity organized regular web-sessions to implement the solution and provide global training. This has proved to be very effective. In the end, the Trinity delivered what was promised within time and budget.
“My treasury is ready to scale, I can certainly recommend Trinity.” – Jan Teekens, CFO TenCate Grass Holding.
