Anyone who's familiar with the Uber Technologies origin storyknows that, for the past several years, the company has beengrowing at a pace that its founder has described as'unprecedented.' At the start of 2015, Uber operated in 25countries. By mid-2018, its ride business served more than 50countries, and the company had expanded into related marketsincluding food delivery, freight hauling, and bicycles andscooters. Uber provided its billionth trip at the end of 2015 andthen reached its 10 billionth trip by 2018.

The Uber treasury group supported this skyrocketing growth byallowing some functions to become decentralized. The companyhandles certain types of transactions via a collect-on-behalf-of (COBO) and pay-on-behalf-of(POBO) model, but local support entities in each region managetransactions around payroll, operating expenses, and tax payments.In building out these regional groups, Uber sometimes foundstandardization falling by the wayside.

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.
NOT FOR REPRINT

© 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.

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.