In 2008, Danfoss decided to improve the infrastructure of its treasury by implementing a payments factory and in-house bank, and to replace its TMS and improve cash flow forecasting.
Following a period of geographic expansion and financial process optimisation, Johnson Controls Inc. made the decision to appoint one bank per country for cash management.
Whilst many individual challenges lie ahead for treasury professionals in 2013, we can all be doing more to ensure that we increase efficiency in certain areas. We use cross-currency payments (FX) as an example.
Grupa Żywiec collects around half of its revenues in cash. As this can be expensive and subject to a variety of risks, it was important for the company to have an efficient, cost-effective and risk averse means of collecting, posting and reconciling cash.
An effective global operating model can benefit treasury in numerous ways - but for companies with operations in multiple countries, regulatory variations can make it difficult to apply a single model in a consistent way.
Participants at the Cash Management University completed a short survey in advance of the event, with a view to exploring changing trends and behaviours in cash and treasury management.
Businesses need to review their core banking relationships, fully understand the regulators’ new deposit definitions and be vigilant in their cashflow forecasts and account structures.