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Treasury Insourcing as a Catalyst for Treasury Transformation

In 2007, leading chemicals group Borealis made the strategic decision to insource its treasury transaction execution and processing from a bank's agency treasury.

This 'ground-up' restructuring of the treasury function has initiated a transformation in the treasury organisation, culture and activities for which treasury is responsible, as Jan-Martin Nufer Director of Treasury & Funding outlines in this article.

Key Points

  • Insourcing treasury operations in order to build competence in-house
  • Establishing a centralised treasury operating from multiple locations
  • Implementing a new technology infrastructure including systems from IT/2, 360T, Misys and EDI
  • Hiring a group financial risk manager and integration of acquired companies
  • Treasury identifying and delivering opportunities for the way the company works and how it supports the wider business

 

Written by

Jan-Martin Nufer
Director of Treasury & Funding
Borealis

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