Introduction
The company is a large corporate organization with operations spread across multiple geographies working in shipping line. The global team for treasury sits in the head quarters handling 8 banks and 260+ bank accounts and the company spread across diverse locations. The team was looking for an over-all treasury management system.
Current Situation:
The treasury team had to consolidated fund position on a weekly basis. This required consolidate inputs from multiple banks across business units and regions across 20 entities, which created a recurring workload for team. Each week, treasury teams had to prepare, validate and share consolidated reports with business leaders. Over time, the repetition of this cycle led to reporting fatigue within the team.
Problem to Solve
The main issue was the manual and time-intensive nature of treasury reporting. The group had 8 banking partners and more than 260 accounts spread across different geographies. Gathering information from all these accounts, consolidating the data, and preparing the reports was a repetitive process that consumed significant resources. The company wanted to automate this process and get a treasury management system to reduce manual work and to provide business leaders with accurate, consolidated visibility of cash positions across banks and accounts.
BiCXO Solution
The BiCXO team worked with the company to implement an automated treasury management system to get view of fund position. The scope included integrating with all 8 banks and consolidating data from over 260 accounts. The system was designed to extract balances and transaction details, standardize the data, and generate a consolidated fund position report without manual intervention. Once integrated, the reporting cycles moved from being manual to being system-driven.
The BiCXO implementation ensured that treasury reports could be generated automatically at the required frequency through treasury management system. treasury teams no longer had to manually compile data from multiple sources. The solution created a single source of reporting that treasury could access directly.
Outcome
With the BiCXO’s treasury management system were installed, the company streamlined its treasury reporting. Weekly consolidation of fund positions was automated, reducing manual effort and ensuring consistency of data. Treasury gained visibility into all 8 banks and 260+ accounts through one consolidated report. The finance team was able to reduce repetitive reporting tasks, while treasury received timely and accurate fund positions as required.
The outcome was a structured process for treasury reporting across the group, supported by system-led automation.
