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A long history of acquisitions has made $31 billion Honeywell International a conglomerate with businesses that operate independently in more than 100 countries and in a wide variety of currencies. These legal entities do a lot of buying from and selling to each other, allowing corporate treasury to adopt a multilateral netting solution that led to an 89% reduction in funds transfers, an 80% drop in settlement costs and a silver award. “We were wasting millions of dollars by having those businesses use gross settlement,” says Panji Winanteya Ruky, senior regional treasury manager.

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