Top in treasury even without a TMS – TIP for mid-sized enterprises.
About Dätwyler Holding AG
The Dätwyler Group is a focussed industrial component supplier to the electronic accessories, automation, ICT and sealing solutions sectors. With a total of over 50 operational subsidiaries, sales in more than 100 countries and around 6,500 personnel, the Dätwyler Group generates annual revenues of approximately CHF 1.3bn.
Status quo and objectives
Dätwyler is an internationally-oriented group with a decentralised structure due to its corporate history. In order to take the first steps in the direction of a centralised treasury department, it was first necessary to gather information about the activities of all of the subsidiaries. The aim was to achieve status overviews with all of the information available about financial assets and liabilities on a weekly basis, notifications about incoming and outgoing payments in the next ten days, as well as cash flow forecasting on a rolling monthly basis. Due to limited resources, it was critical that central reporting was as easy to conduct as possible – both in terms of the decentralised input of positions as well as the centralised consolidation of the data.
The implementation of TIP at Dätwyler took just four months. The first specification workshop was at the beginning of May 2011, with the financial status and the cash flow forecasting going live at the end of June and the end of August respectively. The scoping phase defined both the data flows and the structure of TIP (which accounts and which cash flow forecasting categories). This involved trying to keep manual data inputs to a minimum and importing data from downstream systems. In the case of account balances, for example, the balances of over 80% of the accounts were imported automatically on a daily basis via FIDES. Add-ons over time have included the displaying of all derivatives (including trading requests) in TIP, EMIR reporting and the further automation of account balance uploads.
- It was possible to get a global overview of financial positions within a short period of time
- On the basis of the available information, it was possible to achieve optimisations in cash management and to set up centralised FX risk management.
- The future development of the cash position can now be reliably predicted with the aid of cash flow forecasting.