With the Covid-19 pandemic augmenting the focus on cash visibility, in-house banks are back in the spotlight. Thanks to cloud technology, support to establish in-house banking is more accessible than ever. This topic was recently the subject of a TMI webinar with Deutsche Bank, which included a case study from cloud-based software company Salesforce.
While in-house banking is not a new concept for treasurers, Covid-19 has sparked renewed interest in the topic. There is a continuous demand placed on treasurers to raise efficiencies, therefore in-house banking and, more broadly, treasury centralisation remains a key subject for corporates. Due to the pandemic, in-house banking has an increasingly relevant role in operational resilience, ensuring that treasurers have a full and centralised view of liquidity, as well as a heightened control over cash that is particularly important at a time when staff are working from home.
For US-headquartered cloud-based software company Salesforce, it’s own in-house bank (IHB) project sprung out of a wider organisational restructuring. Catherine Hill, Director of Treasury at Salesforce, says the business embarked on a company-wide project to move from a centralised reseller model to a multiple resellers in various countries as a result of changing regulatory landscape and company growth.
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Catherine Hill
Director of Treasury, Salesforce
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