integrated treasury solution in the cloud dact, 8th november 2013 arnold voetrobert jan wekking...
TRANSCRIPT
Integrated Treasury Solution in the cloudDACT, 8th November 2013
Arnold Voet Robert Jan WekkingDirector Treasury Managing PartnerVan Gansewinkel Enigma Consulting
Contents
About Enigma Consulting
About Van Gansewinkel
Vision & Objectives
Solution & Lessons learned
Benefits achieved & Next Steps
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
CLOSE TO
2 MILLIONHOUSEHOLDS
MORE THAN
120,000B2B CUSTOMERS
Key facts & figuresAbout Van Gansewinkel
1,865VEHICLES
MARKET LEADER IN THE BENELUX
€1,0BILLIONREVENUE
5,350EMPLOYEES
(EXCL. TEMPS)
3.14MILLION TONS OF CO2
PREVENTED IN THE CHAIN
€146MILLION EBITDAE
8.2CUSTOMER
SATISFACTION RATING 2012
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)
How it all comes together
9
TMS
SEPA
Cash ManagementFactoring
Red
uces
Impl
emen
tatio
n lo
ad
Defines Collection Bank Drives implementation platform / pooling
Liquidity
Credit InsuranceP
rovi
des
liqui
dity
Prerequisite for Factoirng
VGG Objectives
Treasury Management Payment 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
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
Objective Result
Treasury Management
Payment Hub
SEPA Conversion
Integrated Solution
Investment Cost
Implementation Timeliness
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
Benefit Status Explanation
Control Single source of information in single platform.
Availability of Cash Few subsidiaries still to be added to central cash pool
Visibility of Cash All MT940 Statements available in BELLIN tm5
Bank Independent Connectivity
ING and KBC live via SWIFT, but not completely bank independent yet
SEPA Migration Awaiting final amendments
Benefits achieved as per 1 November
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