Cash & Liquidity Management
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Treasury Technology Innovation at Neopost

by Christophe Liaudon, Group Treasurer, Neopost

Neopost has a centralised approach to cash management through its holding company, although payments and collections are conducted locally. Balances are swept daily using zero balancing cash pools in five countries. Although the company has a small number of core banks, it has ten cash management banks to deal with local collections such as cheques.

Technology harmonisation and enhancement

In 2008, we made the decision to review our treasury technology and connectivity, which was not harmonised across the Group at that stage. We recognised that with the approaching migration to SEPA (Single Euro Payments Area) and the termination of ETEBAC, which was our communication protocol with our banks, we needed to find a way of harmonising, integrating and optimising our technology infrastructure. We decided that a new TMS (treasury management system) integrated with SWIFTNet would meet both our central and local cash management needs and reduce our IT overheads. There were a variety of reasons for selecting SWIFTNet:

Firstly, we would be able to connect with our various banking partners through a single channel;

Secondly, it provided the level of security that we were seeking;