Could you tell us a little more about the company and, in particular, your treasury function?
Zalando is Europe's leading online fashion platform for women, men and children with presence in 15 European markets. We provide our customers with a convenient one-stop shopping experience, offering an extensive selection of fashion items including shoes, apparel, and accessories, with free delivery and returns. Our assortment of more than 1,500 international brands - ranging from popular global brands to local brands - is complemented by its private label products.
Zalando’s websites attract more than 138 million visits per month. In the fourth quarter of 2015, roughly 60% of traffic came from mobile devices, and we had more than 17.9 million active customers by the end of the year.
The Treasury Team at Zalando is organised along three main areas:
Cash Management - includes processes such as payment approval process, cash pooling, bank account monitoring and short- & long-term liquidity planning
Risk Management - monitors and hedges the risk arising from financial risks (FX, interest rate). Mitigates market and counterparty risks through the distribution of cash reserves
Financing - manages cash and guarantees between the company, subsidiaries and suppliers
What were the main factors that led to your decision to implement a new solution?
The main factors that led us to the need for a new solution were:
Could you outline the main benefits of the solution so far? Are there any additional long-term benefits you are expecting to see?
Cash Management:
Risk Management:
Long-term benefits: integration of platforms
What were the biggest challenges your team encountered during the implementation of the solution?
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