Huawei’s Treasury Technology Transformation
Huawei is a flagship Chinese corporation that continues to demonstrate impressive growth across its extensive international footprint, resulting in increasingly complex and diverse cash and treasury requirements. To manage these evolving needs, Huawei has been a forerunner amongst Chinese multinationals in introducing industry-leading cash and treasury management technology and processes, including multibank connectivity through SWIFT.
Treasury organisation & objectives
Huawei has established an efficient treasury and finance organisation with a centralised group treasury function in Shenzhen and regional treasury centres in Singapore and the Netherlands. However, the company’s ambitious and highly successful growth strategy has resulted in greater complexity in its internal treasury technology and bank connectivity requirements. The number of banks and accounts had proliferated, with an increase in the number of banking connections and proprietary formats, which were costly and resource-intensive to maintain.
Consequently, Huawei recognised the need to implement a technology model that was more closely aligned with its business strategy and minimised operational risks. Treasury co-ordinated a project team comprising key personnel from account management, global payments, treasury and IT to set objectives and formulate and deliver on a strategy. This team identified the following objectives: