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Pioneering SWIFT Corporate Access in Poland

Ever since EDF began its operations in Poland in 1998, we have been committed to adopting efficiencies and best practices to benefit customers and shareholders alike. We now have 11 entities in Poland, not all of which are operating under the EDF name, although it is our intention that this will change in the future.

Due to legal constraints and a large number of different stakeholders in the business, including the Polish state, we recognised that establishing a shared service centre (SSC) would be an efficient way of managing all of our entities in Poland cohesively without merging entities. The SSC includes our finance function, including payments, which we sought to optimise as far as possible. With a relatively young banking infrastructure, Poland has efficient payment instruments, but we wanted to enhance our payments activities further with automated, secure processes and bank connectivity.

Key Points

  • EDF is a primary shareholder in 11 Polish electricity and heating companies, and decided to establish a SSC to manage its different entities without merging them
  • In January 2011 a new ERP was started across all 11 companies to rationalise IT costs and harmonise processes and reporting
  • SWIFT connectivity was then implemented to provide an automated secure interface between the ERP and EFT (electronic funds transfer) of their banks, one of which is Bank Pekao, a subsidiary of UniCredit
  • The article describes the success of this system and how payments are now successfully processed through the new payment factory
  • Future plans include the extension of the use of SWIFT to electronic balance reporting and the enhancement of cash and liquidity management in Poland through cash pooling

 

Written by

Eric Finat-Duclos
Finance Director
EDF Polska

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