by Janko Hahn, Head of Treasury Operations, Autoneum Group
In 2012, global vehicle acoustic and thermal management solution leader Autoneum launched a project to transform its treasury technology infrastructure as a catalyst for enhancing processes, improving cash management efficiency and control, and reducing costs across the group. In this article, Janko Hahn, Head of Treasury Operations, Autoneum discusses some of the considerations when planning and implementing such a complex and far-reaching project.
When we launched our project in 2012, we had a group treasury function comprising 2.5 FTEs based at our company headquarters in Winterthur, Switzerland, but payments processing was conducted by local business units. We had over 100 bank accounts globally with a variety of banks, with large cash balances in different locations, making it difficult to leverage our liquidity positions globally. Although we had a treasury management system (TMS) it had become outdated and no longer met our operational and reporting requirements. Similarly, the wider ERP environment was no longer appropriate to the company’s needs.