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Streamlining Cash Management in a Decentralised Global Company

AkzoNobel enhanced its cash management infrastructure, rationalising its many bank relationships, using cash pooling where possible, and is in the process of rolling out its payment factory.

We talk to the Head of Treasury Operations about this major transformation.

Key Points

  • AkzoNobel has embarked on major transformation of its cultural and business organisation, as described in articles in TMI last year and earlier in 2011
  • The treasury department was scheduled to change from an operational payments function to being a strategic partner for the business
  • This article describes how the company enhanced its cash management infrastructure, rationalising its many bank relationships, using cash pooling where possible, and is in process of rolling out its payment factory
  • Communicating with the various business units has been a key factor in the success of the on-going project

 

Written by

Marco Schuchmann
Head of Treasury Operations and Payment Factory
AkzoNobel

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