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Leveraging a Single Platform for Financial Optimisation

by Pedro Pimentel, Business Manager, MetaCase

MetaCase is a company with which many treasurers may be unfamiliar; however, its treasury management system, Target One, is established as the leading system amongst corporations both headquartered and located in Iberia. In addition, the solution has a strong value proposition in other regions. This article describes the experiences of a major corporation that recently implemented Target One, and highlights the wider relevance of MetaCase’s value proposition.

Client profile

MetaCase’s client is one of the largest energy operators in Europe, with generation, distribution and supply activities in Europe (Spain, Portugal, Belgium, France, Poland, Italy, Romania), USA, Canada and Brazil. The company is also the third largest producer of wind-farmed energy globally. The company has an annual turnover exceeding €14bn per annum and has over 12,000 employees. The scale, the international reach of the company and fragmented technology environment led to a broad and complex set of treasury and cash management requirements, resulting in a project that has relevance to many other corporations internationally.

Project background

Before embarking on its business and technology transformation project, the company had several information systems in which financial processes were managed, including seven SAP systems covering different regions, a cash management system for just one region, hundreds of spreadsheets and multiple different bank communication systems. Processes were also inefficient with significant diversity across regions. These issues resulted in fragmented data, duplication of tasks and information, lack of security and lack of visibility over liquidity and risk, etc.

The company recognised that a first step was to analyse existing processes, procedures and systems and identify priority areas to optimise, simplify and standardise by producing a Business Blue Print. The second step was to rationalise systems with a view to implementing a single platform for managing all financial flows and where effective financial decisions could be made.