When it comes to joining SWIFT, most companies approach this complex project in carefully calibrated steps over an extended timeline. Defying conventional thinking, Dell Inc. is leaping ahead. "We're taking the big bang approach," says Peter Schmitz, Dell's global treasury product manager. The company started the groundwork a year ago, and while no live messages were being sent or received as of September, Schmitz expects that before the end of the year, Dell will be "live with all of our 600-plus accounts across the globe, using the full range of reporting and payment messages."

How did SWIFT, Dell's service bureau, and the peers with which the company benchmarks react to this ambitious plan? "They were surprised," Schmitz says. "They thought Dell's approach was quite aggressive for the complexity and scope of the project."

Why throw away the map and blaze a new trail? It's partly confidence. "When we decided to join SWIFT, we were ready to do it right and do it big," Schmitz says. "We think holistically. We wanted to take advantage of that value as quickly as possible. We saw no reason why we couldn't make the big bang work. We're attempting the simultaneous onboarding, directly or indirectly, of all accounts for which we have receipts and disbursements."

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

  • 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.

© 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.