Automating Centralised Treasury Processes
Banking software giant Temenos tasked Cobase with devising a better system for the management of its global bank relationships, cash, and FX. The results have slashed manual processes and reliance on spreadsheets, saving the treasury team vital hours in the day.
Temenos offers banking software solutions to financial institutions across the industry from Tier 1 banks to the smallest institutions worldwide. In November 2022, the company celebrated a milestone 850th client go live on its Temenos Infinity digital banking platform.
Supporting this global operation is a centralised treasury team of five people. Every payment that leaves the company goes through their hands, which also manages all funding repatriations. Group cash is centralised where possible, and funding is provided to local entities on an as-needed basis. The Temenos treasury also manages several cash pools across the US, Europe and Australia. Any excess cash is used to pay down debt or place on investments to maximise returns.
As Temenos is a billion-dollar company, the treasury needs to be incredibly efficient to manage the level of work that flows through the department. This was put under intense pressure back in 2015, when RBS retracted from the global banking market.