Harnessing the power
of technology.
When a new mining and metals company is founded following a de-merger, legacy treasury and banking connectivity can present challenges for post de-merger strategy and benefits realisation.
Background.
In the unique and challenging position of inheriting legacy SAP treasury and intercompany lending solutions through a de-merger, this client tasked Covarius to extend the existing platform to a global In-House Banking model.
Approach.
Assembly of a detailed business case involving the elimination of more than 100 bank accounts globally and delivery of a global cashless clearing model for intercompany payments involving SAP In-House Cash.
Results.
>70
Bank accounts closed in the first year of implementing SAP In-House Cash.
9 months
To realise a fully functional in-house bank and global POBO rollout.
>80%
Reduction in Group internal settlements through a cashless netting model.