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International treasury management

The management of the international treasury is an inevitable step for groups of companies that want to continue growing. Centralizing the treasury helps to organize economic and human resources so that they work coherently with strategic objectives.

For a company active in the production and marketing of electric motors, DocFinance has implemented a project to centralize the management of the international treasury developed around its specialized platform. The customer, who belongs to twelve companies, one of which in Romania, one in Hungary, and one in Slovenia, had expressed the strong need to be able to remotely control all treasury information from a single digital portal: not just subsidiaries. Italian, but also of those abroad. The need concerned the main bank transactions, including payments and collections, and the reorganization of operations in order to free staff from repetitive tasks.

The benefits of having implemented DocFinance were transversal. The customer centralized operations in the Italian office, but was also able to automate collections. In addition, the payment slips are automatically produced within the software.

International treasury management: what it takes to improve

The client was unable to have complete visibility into the treasury. Without a unified dashboard, the offices abroad were located and carried out financial operations in total autonomy. This meant that the main office in Italy could monitor the treasury activity carried out abroad only in the final balance, with evident consequences on the monitoring, the control of the cash flow, and the expenditure of human energy necessary to receive all the administrative data.

The management of the international treasury was limited and, above all, it was not creating value for the group. Furthermore, the collection of information was fragmented between spreadsheets, which cannot be valid support, and email: generating timely and valid analyzes to support decisions was complex, if not impossible.

The implementation of DocFinance has allowed the company to centralize the management of the international treasury in the Italian office, both the operational and the analytical parts. Furthermore, by centralizing control, the human impact in treasury management has been reduced: the people in charge now save time and therefore can concentrate their skills on more complex activities.

The advantages of DocFinance in the management of the international treasury

One of the main critical issues in the management of international treasury concerns banks. Foreign credit Score institutions are often not standardized like Italian ones. Coordinating a disorganized amount of information takes a long time and does not bring the desired benefits; manual activity also involves a series of errors in data entry with cascading consequences on the rest of the financial administration work.

With DocFinance the customer was able to channel the incoming data: the information aspect became certain and immediate. This enabled real-time treasury management at the group level and the ability to generate timely and accurate reports. What is more, this made it possible to predict the cash flows and therefore the financial health of the entire group of companies, including foreign ones. After the adoption of DocFinance, the customer no longer experienced either linguistic or operational problems, which previously hindered the reception of information and therefore the possibility of making decisions.

Automated collections

The client needed to centralize the management of the international treasury, but the implementation of specialized software such as DocFinance guaranteed transversal benefits that galvanized all financial management.

Additional advantages of having adopted DocFinance were:

  • be able to automate the management of receipts. Now the reconciliations of all bank transactions, both Italian and foreign, are carried out by the system;
  • generate payment slips directly in DocFinance;
  • sending notifications both in Italian and in English;
  • standardization of information. This makes it possible to evolve financial management at 360 degrees by exploiting an organized set of data.

International treasury management with DocFinance becomes simpler and more advanced. But the work does not end with the implementation of the platform: DocFinance supports the customer in improving their operational management, offering the necessary advice to rework their internal organization and transform treasury data into value for the entire group.

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