Cunningham Lindsey Group, a third-party loss adjuster based in Tampa that operates in 50 different countries, implemented a treasury workstation to automate what had been highly manual treasury processes.
Cunningham Lindsey's four-person treasury team was working with 52 controllers worldwide who provided cash forecasts and bank reporting via spreadsheets. Prior to implementing a workstation, treasury received weekly cash updates from just 25% of its entities worldwide, covering about 8% of its global bank accounts, and experienced an average variance of 20% on its cash forecasts.
The company selected Kyriba, says Elizabeth Ecsy, director of treasury, because its cash forecasting system "is fairly customized and fairly easy to use as well." Cunningham Lindsey also put in place SWIFT connections with all of its banks able to able to provide SWIFT reporting.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
- Exclusive discounts on ALM and Treasury & Risk events.
- Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
*May exclude premium content
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
