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TMI 181 - December / January 2010 |
A Pan-Regional Approach to Liquidity and Bank Connectivity
Benoît Mulsant, Treasury Manager, PSA Peugeot Citroën
Categories: Cash Management, Cashflow Forecasting, Corporate Finance, Liquidity Management, Payments, Strategic Treasury, Working Capital Management, Bank Relationships
PSA Peugeot Citroën work with more than 50 banks across the group, which makes it important to have an efficient structure to achieve transparency and control over cash. Consequently, PSA have a centralisation strategy to consolidate group cash on a daily basis across both commercial and financial entities.
Its focus during 2009 has been the integration of CEE cash management activites with the rest of Europe. This has been accomplished in partnership with Societe Generale. Rationalisation of payments is next on the agenda, with plans to implement SWIFT connectivity with all the firm's subsidiaries.
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