Challenge
A major international player in the construction industry placed in Italy and subsidiaries abroad, as part of a digitization process, expressed the need to adopt a single treasury management system for the entire Group in order to simplify processes and achieve the goal of Global Visibility.
The client was also able to centralize the information needed for medium- to long-term financial planning by adopting Kyriba’s Liquidity Planning Module, which allows data on the application (cash & deal) to be integrated with data from external systems or entered manually.
Solution
The implemented solution can be summarised as follows:
- Management of the bank master data of the entire group.
- Acquisition of the daily account statement in MT940/MT942 format.
- Cash Reconciliation for matching forecast items with actuals.
- In House Banking for the management of Cash Pooling and Intercompany loans.
- Deal Capture for the management of deposits and forex transactions.
- Cash Position reporting based on the segregation of ACTUAL movements by company and nature of liquidity.
- Cash Forecast reporting based on the integration of data recorded in the SAP accounting system and with the possibility of manual input.
- Integration via Host to Host with the group’s main banks.
- Installation and configuration of the SAP Connector for Cash Forecast of Kyriba for the export of open supplier/customer accounts from SAP to Kyriba with indication of the Budget Code useful to categorise the nature of the forecast movement.
- Liquidity Planning for the management of liquidity plans fed from data on the platform but also from data integrated manually and/or via interfaces from external systems.
The project scope involved as many as 46 companies in 19 countries worldwide, with a total of 300 current accounts integrated on the platform.
Results
- Global visibility of banking transactions of all group companies.
- Centralisation of financial reporting, i.e. cash position and medium/long-term balance planning, in a single hub.
- Reduction of manual information collection activities from the branches to the head office and integration with the SAP system for forecasting items.
- Activation of a medium/long-term financial planning tool that, starting from data extracted from third-party systems, can build planning scenarios and allow what-if analyses.
Quote
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