Download presentation
Presentation is loading. Please wait.
Published byMuriel Greer Modified over 8 years ago
2
Integrated Treasury Solution in the cloud DACT, 8th November 2013 Arnold VoetRobert Jan Wekking Director TreasuryManaging Partner Van GansewinkelEnigma Consulting
3
Contents About Enigma Consulting About Van Gansewinkel Vision & Objectives Solution & Lessons learned Benefits achieved & Next Steps
4
About Enigma Consulting Consultancy firm, 100% independent, Founded in 1997 Specialized in Payments, Treasury and Risk 60 highly qualified professionals Combines Advisory and Implementation, with focus on end-to-end financial processes Matchmaker between solution providers and clients Authorized BELLIN tm5 Partner in the Netherlands
5
About Van Gansewinkel
6
CLOSE TO 2 MILLION HOUSEHOLDS MORE THAN 120,000 B2B CUSTOMERS Key facts & figures About Van Gansewinkel 1,865 VEHICLES MARKET LEADER IN THE BENELUX €1,0 BILLION REVENUE 5,350 EMPLOYEES (EXCL. TEMPS) 3.14 MILLION TONS OF CO 2 PREVENTED IN THE CHAIN €146 MILLION EBITDAE 8.2 CUSTOMER SATISFACTION RATING 2012
7
VGG Treasury 2013 Highlights €1,5 bln refinancing of the Group at 6x EBITDA leverage Sale of AVR incineration business to CKI (>€900 mln) €50 mln Off Balance KBC receivables factoring program Reduction Cash Management banks from 4 to 2 Implementation of a Group wide Credit Insurance Implementation of BELLIN tm5 SEPA & Swift Payment Hub (in progress)
8
Vision & Objectives
9
How it all comes together 9
10
VGG Objectives Treasury ManagementPayment HUB Control Moving away from spreadsheets Immediate access to Treasury related data of 65 entities in 40 ERP applications Reduce FTE by straight through processing Reduce errors & risks Deal Capturing Term Loans, IRS, Commodities Guarantees, Lease contracts Mark to Market valuation Interest rate swaps Hedge accounting support Availability of Cash All accounts of the Group to be included in the central ZB pool Visibility on Cash Improved Cash Forecasting based on accurate Data Independent Bank connectivity Reducing lock in cost Reduce Cash Management Cost Payments / Receipts on behalf SEPA file conversion Integrated Solution
11
Solution & Lessons learned
12
Treasury and Payment Hub in the Cloud Treasury Management System – BELLIN tm5 Bank Connectivity – direct SWIFT connection via BELLIN tm5 SEPA file conversion & mandate management - Sentenial ObjectiveResult Treasury Management Payment Hub SEPA Conversion Integrated Solution Investment Cost Implementation Timeliness
13
Solution Footprint
14
Lessons Learned 64.9% 17.7% 10.3% 7.1% Cloud application is Plug and Play BELLIN tm5 live in 2 to 3 weeks (core Treasury) SWIFT connection live in ± 2 months (apart from SWIFT registration process) Banks support is critical to meet deadlines No additional soft- and hardware, limited impact on IT resources Enigma knowledge to redesign the original operating model Getting it approved internally turned out an important hurdle Project management needed to manage 2 software suppliers, 2 banks and SWIFT Impact SEPA format conversion bigger than anticipated
15
Benefits achieved & Next Steps
16
BenefitStatusExplanation ControlSingle source of information in single platform. Availability of CashFew subsidiaries still to be added to central cash pool Visibility of CashAll MT940 Statements available in BELLIN tm5 Bank Independent Connectivity ING and KBC live via SWIFT, but not completely bank independent yet SEPA MigrationAwaiting final amendments Benefits achievedas per 1 November
17
What’s next ERP Rationalization the new (cloud) infrastructure supports a step-by-step approach to independently migrate to new ERP infrastructure SEPA from conversion service to integration in ERP systems Eliminate paper flow and implement eMandates Payment Processing Optimization “On Behalf” Payments and Receipts Simplify to single account per country for VGG
Similar presentations
© 2024 SlidePlayer.com Inc.
All rights reserved.