Stream 1 - Re-engineering the treasury of the future
Chaired by Peter Green, Senior EuroFinance Tutor; and Director, Transactionbanking.com, UK
The continued volatility and new risks that keep surfacing have led many treasurers to revisit practice and strategy in the treasury from centralisation to banking models. For many this has resulted in re-engineering key areas or a complete rethink on overall process and practice. Take a look at these companies that have chosen to overhaul the treasury or parts of it. Just because a particular structure has been used for ages, doesn’t mean that it has to look the same way going forward. From treasury policy to how a company is structured, these are well thought out examples of change.
12:00
Total transformation: Revolutionising the business with new models and processes (Case study)
Cargill has embarked on an enterprise-wide business transformation and ERP implementation that will revolutionise and standardise the business. The 10-year mission, with a large team driving it from all levels, will employ new or upgrade existing technology to allow innovation and forward thinking across the business. As part of this, Cargill treasury has developed a groundbreaking approach for partnering with global banking partners, coordinating RFPs, and managing the impact of this change on cash management systems and processes. It is also deploying best-in-class technology solutions for treasury, leveraging Swift and emerging data standards like ISO20022 XML.
Tracey Brazier: Cash & Treasury Services Manager – EMEA, and Bank Strategy Project Business Lead, Cargill, UK
Jeremy Kidd: Global Treasury IT Manager & Bank Strategy Project Technical Lead, Cargill, USA
12:40
Lunch
Sponsored by Lloyds Bank Corporate Markets
14:00
Revitalising working capital (Case study)
We’ve been talking about the treasury role in working capital since 1991 and it has taken about 20 years for it really to resonate! Treasury is becoming more involved in the responsibility for working capital, and partly as a result of this, companies are rethinking the strategy, process and execution of managing it. In the old days working capital was “in your company”, these days, it’s up and down the supply chain looking for points of weakness and strength as well as collaboration for better working capital for the entire group. One company only looking out for itself can be selfish and damaging, particularly when resources and capital are stretched. This collaboration should outlive any change in the financing environment or interest rates! This case study will show a master at making the most of working capital.
Pia Nyblom: Director & Working Group Capital Manager, Volvo, Sweden
14:40
Session title to be advised (Case study)
Session to be advised
15:20
Refreshment break
16:00
Moving towards the “perfect treasury” (Case study)
Over the past four years, this major logistics and freight management company has moved from a decentralised treasury with two distinct business divisions to an integrated treasury function utilising cutting-edge treasury tools. It has leveraged its subsidiaries’ complementary cash flows through regional multicurrency notional pooling structures supported by in-country cash pools and has achieved full visibility and control of all cash positions globally. The next phase will include a payment factory that efficiently processes payments, and exploits SEPA and Swiftnet connectivity. The payment factory will be rolled out initially in Europe/USA before a full global rollout including Asia towards the end of this year. Other developments include the strengthening of controls through the setup of distinct front, middle and back offices and regional treasury centres in Singapore and Houston.
Ernst de Kuiper: Group Treasurer & EVP Finance, CEVA Logistics, The Netherlands
16:40
Greater centralisation, more efficiency (Case study)
This company undertook a thorough review of their business model and legal structure with an aim to simplify and standardise wherever possible to improve internal process efficiencies. The project included moving to a single transaction bank model for Europe, a migration to a common ERP system, the implementation of a new payment factory and a new bank communication module which was bank independent. All this helped to improve available liquidity and enhance working capital. Moving to straight through processing also reduced complexity meaning the company could better serve its internal and external customers. The ultimate goal is to have a lower cost structure, an optimised supply chain and a future-looking approach which will include an XML project for Europe.
Pierre-Alain Nilsson: Director Treasury EMEA, Goodyear Dunlop Europe, Belgium
Andrew Reid: Head of Corporate Trade and Cash Solutions, EMEA, Deutsche Bank, UK
