Cash & Liquidity Management

Nordic Shared Service Centre Improves Liquidity Management

Treasury in the Elkjøp Group manages the company’s FX exposure centrally, eliminating all FX risk from its local operations. Subsidiaries held their own local currency cash pools with local banks and transferred cash to the group cash pool each month. To support the electrical retail chains in four countries, the group used to have one local bank in each country, transferring cash to the group multi-currency cash pool each month. It also decided to implement a radical change in its banking structure, selecting just one bank to provide banking services on a pan-Nordic regional basis. In this article the Nordic Treasurer of the group describes how these changes were achieved and their many benefits.

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