When you have a holding company, it's best to take advantage of it. Omnicom Group's more than 1,500 ad agencies worldwide were spending $147 million on equipment leases in 2001. Each lease was negotiated by a local agency with one of more than 350 leasing companies.
No one had a comprehensive view of equipment prices or the financing rates, and hence their competitiveness, says Eric Huttner, assistant treasurer at $12.5 billion Omnicom.
So the marketing and communications giant implemented a global leasing system powered by OnBase software and customized by Computer SI that allows treasury to arrange all leases and negotiate financing rates and other terms. "All they have to do at the agency level is sign documents that have been pre-negotiated," Huttner says.
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