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- Brady Corporation
Leading global precision manufacturer and identification expert Brady Corporation has grown substatially since 2001, largely through acquisition. Over the years, it became increasingly apparent that financial costs were increasing as a percentage of revenue compared with competitors.
This article describes how Brady Corp. recognised the need to enhance treasury processes and reduce costs to remain competitive and efficient.
- After a period of rapid growth and acquisition, Brady Corporation’s finance function had become decentralised and fragmented
- It was decided to standardise treasury activities, firstly by centralisation, with Bangalore chosen as the primary SSC location
- Over the past three years Brady has completed around 90% of the initial centralisation project and around 90% of the stabilisation and measurement process
- Cash management has been optimised with the aid of Bank Merrill Lynch in Europe and Asia
- The author outlines the lessons learned from the complex transformation project and future steps to be taken
Kathryn CampbellAssistant Treasurer