Treasury Transformation: Delivering Value
Our journey with AkzoNobel started in 2007, when they embarked on a treasury transformation project called ‘One Finance’, with the intention of achieving a number of key objectives for their finance function:
- To operate and be benchmarked as ‘best in-class’ level versus our peer group
- To provide comprehensive support to their businesses
- To maintain integrity
- To meet their corporate values
The project was demanding and entailed changes to their banking infrastructure, technology, treasury policies and relationships with business units.
As part of One Finance, AkzoNobel floated an Asia cash management RFP in 2009 with the intention of increasing visibility of cash, improving cash flow control, enhancing cash management and FX efficiency and standardising documentation under global and regional groupings.
In view of its extensive network, HSBC was appointed by AkzoNobel as the company’s primary banking partner in a broad range of regions and countries: