Chassis Brakes International is an example of the growing number of mid-cap corporations that have successfully introduced SWIFT’s cloud-based solution Alliance Lite2 for bank connectivity. This is increasingly provided as an integral element of sophisticated, cost-effective treasury management systems (TMS) such as Exalog’s Allmybanks, as Chassis Brakes International’s experiences demonstrate.
Treasury at Chassis Brakes International was not well-established until three or four years ago with a decentralised approach to cash management. As a private equity-owned business, however, managing group liquidity and unlocking cash flow was a major priority, which led to a project to centralise and optimise cash and treasury management. At the same time, Chassis Brakes International reviewed and rationalised its banking partners to increase operational efficiency whilst ensuring appropriate coverage and risk management across all markets.
Implementing a TMS to underpin the group treasury function was essential. Following a detailed evaluation process, Chassis Brakes International selected Exalog’s Allmybanks solution. As SWIFT Alliance Lite2 is integrated within Allmybanks, it provides a turnkey solution for cash management and bank connectivity. Hélène Brunou, Group Treasury Director at Chassis Brakes International, who also managed the project explains,
“We were already familiar with SWIFT based on experiences with previous organisations, and we recognised that it was the best way to communicate with multiple banking partners in a consistent way.”