Cash & Liquidity Management
Published  6 MIN READ
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Collaboration for Cash Centralisation and Control

by Jean-Michel Harlepin, Treasurer, Vinci Finance International

Leading construction group VINCI has recently embarked on a flagship project to centralise cash in Europe and optimise bank connectivity. Despite a decentralised culture, treasury has worked collaboratively with banks and subsidiaries alike to develop a robust, secure and automated cash and treasury management solution that meets its current and future needs as the business continues to evolve. In this article, Jean-Michel Harlepin, Treasurer, Vinci Finance International, describes some aspects of the journey so far and highlights some of the challenges and opportunities that cash centralisation has presented.

Treasury organisation

Our treasury function at VINCI has two major responsibilities: to finance the VINCI group and centralise cash for non-French entities. Our target is around €1bn cash balances. Our aim is to maximise the available cash to manage working capital requirements across the group and minimise our reliance on borrowings. We have a small team of only four people, so it is essential to achieve a high degree of automation to manage the full range of activities for which treasury is responsible in an efficient and controlled way. As a result, a priority for VINCI is to maintain state-of-the-art systems that are closely integrated with external counterparties and the wider business.