The company was expanding its international operations very fast. Treasury was highly centralised from head office. The company wanted to maintain strong central control over treasury functions but needed greater intimacy with international operations. Access to best in class international financial services and a high quality talent pool was another driver.
We made a detailed study of the company’s current operations and strategic intentions both in terms of sales growth patterns and geographic coverage and in terms of related finance and tax planning. We mapped this to a variety of well established treasury locations to find the best fit for the company in terms of location. We also studied the company’s business practices and developed a map to transition functions – partially or completely in alignment with the company’s policies – to the new treasury centre in an orderly and sustainable manner. We determined an appropriate mix of solutions in terms of people, policies, processes, and systems to minimise operational risk during transition and thereafter, and to ensure project success.
The company has successfully implemented the first phases of the international treasury centre plan, and they are benefitting from greater efficiency in international treasury operations, reduced costs, and improved control bringing lower operational risk. They have observed a considerable improvement in field operation satisfaction with treasury services.