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SWIFT Connectivity for Corporate Treasurers 2009 |
Microsoft Corporation: SWIFT Progress 2005-2009
Helen Sanders, Editor
Categories: Cash Management, Intercompany Financing, Payments, Strategic Treasury, SWIFT, Technology, Working Capital Management, Technology Articles, Receivables
Since 2006, we have been pleased to present an evolving case study of Microsoft Corporation illustrating how the implementation of SWIFT has developed. In this feature, we take a snapshot of progress at three points: 2006, 2008 and 2009, and we are delighted to talk once again with Ed Barrie, Group Manager for Treasury, Microsoft Corporation. Microsoft Treasury, based in Redmond, Washington is a centralised operation responsible for all elements of cash management, FX, corporate finance, risk management and credit and collections. The company has around 100 banking partners and 1,000 accounts of which 400 are managed by treasury. Seven staff manage the Treasury Operations and four manage the subsidiary Cash Planning function. Microsoft started a project in 2005 to consolidate and streamline its back-office cash management operations using SAP, which is used throughout Microsoft. This included bank communication, payments, bank account reconciliation, FX transactions and creating an in-house cash centre to manage intercompany transactions and subsidiary funding.
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