Group Fawaz A. Alhokair & Co. establishes treasury STP with TreasuryXpress
- Retail giant streamlines treasury, banking, and payments in the Cloud
New York, NY – TreasuryXpress, the global leader in frictionless and on-demand treasury management solutions today announced that Group Fawaz A. Alhokair & Co (FAH), the largest franchise fashion retailer in the KSA, MENA, Central Asia, and Caucasus regions, has selected the firm’s enterprise treasury management solution, C2Treasury™. After an intensive RFP process, C2Treasury was selected by FAH to help achieve deeply integrated straight-through processing with the firm’s multiple ERP systems. The retail company will now establish real-time bank communications and centralize cash visibility.
Established in 1991, FAH currently represents 116 fashion brands including Aldo, Banana Republic, Clarks, Marks & Spencer and more. FAH trades in more than 2,100 stores across 100 shopping malls in 17 countries. The breadth of their business translates into complex bank communications, cash visibility, and reporting requirements.
“My goal was to implement one software across all of our international businesses. From cash visibility to centralized bank reconciliation and reporting, I wanted a treasury management system that could communicate with my ERPs, my banks, and my market data providers,” says Ziad El Khoury, Treasury Director at FAH. “I will now be able to do this with TreasuryXpress. With a higher developer-to-sales ratio than any other TMS provider in the space, they are truly committed to making technology that works for treasury. I know they are focused on supporting our growing business at scale.”
“Treasury is witnessing an evolution. Today, treasury technology needs to be highly cooperative with other platforms – quickly. Long, drawn out custom integrations are just not acceptable. Leveraging current Cloud technology, we have structured TreasuryXpress to be nimble and fully responsive to the needs of growing businesses,” say Anis Rahal, CEO and Founder of TreasuryXpress. “FAH is setting the standard for other retail treasuries to streamline their technology infrastructure and we are honored they have chosen us as their partner for treasury innovation.”
C2Treasury provides companies of any size access to enterprise-level cash visibility, liquidity management, bank connectivity, payments workflow, and self-service custom reporting capabilities.