Headquartered in Chicago, Health Care Service Corporation (HCSC) is the country's largest customer-owned health insurer, with nearly 16 million members in health plans across Illinois, Montana, New Mexico, Oklahoma, and Texas.
A decade ago, the company undertook a transformational project designed to centralize treasury activities, improve the treasury team's effectiveness, and reduce their manual workload. "A lot of accounting and finance groups were performing tasks that should have been within treasury, so everything was very decentralized," says Julie Qualiato, senior director of enterprise treasury operations. "The company's approach to cash management entailed being very conservative and overfunding accounts."
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Meg Waters
Meg Waters is the editor in chief of Treasury & Risk. She is the former editor in chief of BPM Magazine and the former managing editor of Business Finance.
