Financial Technology

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Dentsu Aegis Network - Global Payment Standards with BELLIN and SWIFT Dentsu Aegis Network set out to find a solution capable of combining full treasury management functionality with an automated global all-in-one payment solution – as well as automated reporting – across its core banking group.

Dentsu Aegis Network - Global Payment Standards with BELLIN and SWIFT

Headquartered in London, Dentsu Aegis Network is a combination of Aegis Media and Dentsu Inc.’s non-Japanese media businesses which was formed following the c. £3.2 bn acquisition of Aegis Group plc by Dentsu Inc. in March 2013. Dentsu Aegis Network is one of the world’s leading media and digital agencies, generating annual turnover in excess of £16 bn across a worldwide network covering over 80 countries and employing over 20,000 employees. 

The challenge for Dentsu Aegis Network: Obtain a group-wide overview

The treasury team at Dentsu Aegis Network is centrally organised, managing cash, funding and foreign exchange on a group-wide basis. Having visibility over cash and debt balances across the group is critical to manage liquidity effectively. The challenge was to do this in a time and cost-efficient way – bearing in mind that the group operates 1000+ accounts with 100+ banks across 80+ countries. In addition, the group was seeking to streamline its payment activities across these accounts and thus generate cost savings.

Dentsu Aegis Network set out to find a solution capable of combining full treasury management functionality with an automated global all-in-one payment solution

Dentsu Aegis Network set out to find a solution capable of combining full treasury management functionality with an automated global all-in-one payment solution – as well as automated reporting – across its core banking group. They wished to integrate their payment processing in one system and connect it to all banks. Dentsu Aegis Network decided to implement BELLIN’s treasury management system which has an integrated multi-bank cloud connectivity, based on Alliance Lite2.

Peter Pontidas, Corporate Treasurer at Dentsu Aegis Network, says: “At the moment, we manage our finances on multiple platforms for different subsidiaries. The treasury department collects and integrates information manually, resulting in time-consuming processes. One of our goals is to simplify existing treasury processes and to enhance benefits by enabling payments to be automated across the group in a bank-agnostic way. A single treasury management system that enables an easy connection to all selected banks via SWIFT seems to be the ideal solution for us.”

For Dentsu Aegis Network, this is a high-priority project. To enable the project to be implemented in a time-efficient manner and to manage the interface with various systems, the treasury team has employed consultants to assist with static data input, project rollout and technical interfaces.

One System: An all-in-one TMS solution

Integration is a key priority of the project. Co-ordinating and harmonising the tools used in the group’s treasury is the basis for increased cash visibility and more efficiency.

“A key priority has been to find a suitable solution which allows us to manage all global payment processes on one platform. Hence, our initial vendor investigation focused on treasury systems that could meet the highest standards in treasury management and bank connectivity. With tm5 by BELLIN, we found a fully integrated treasury management system that fulfils all our needs,” explains Pontidas.

The new Dentsu Aegis Network treasury solution is entirely hosted ‘in the cloud’, which enabled a quick and easy setup. No investments in hardware were necessary – the group simply lets BELLIN host their application. The treasury team can use the application just as well as the group’s subsidiaries and shared service centres – the system’s web-based technology enables group-wide use. All this speeds up the roll-out and implementation process, which currently is still a work in progress.

One Channel: Finding the right bank connectivity model

Dentsu Aegis Network means to leverage efficiencies by reducing the number of individual banking solutions and by keeping bank connections as independent as possible at the same time.

SWIFT’s Alliance Lite2 offers the ideal solution for the group: the SWIFT network stands for far-reaching opportunities and a global technology. It enables Dentsu Aegis Network to use one unified banking connection to connect with all their relevant banks. In addition, Dentsu Aegis Network profits from SWIFT’s very high technical security standards.

Peter Pontidas states: “From the very beginning, using SWIFT’s Alliance Lite2 was one of our main goals. With access to the SCORE network, we can reach all our core relationship banks in a convenient way. We were looking for an integrated solution.”

A year ago, SWIFT and the treasury solution provider BELLIN began to fully integrate SWIFT connectivity in the BELLIN system. The resulting combined BELLIN SWIFT Cloud Service offers companies seamless connectivity to all banks from one web-based treasury system via SWIFT. Dentsu Aegis Network has received their own bank identifier code (BIC), which is a prerequisite for using all aspects of the global SWIFT network.

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