Search
 
Alexander Hamilton Awards

Automating Cash Visibility in Emerging Markets

Why Microsoft won the 2019 Silver Alexander Hamilton Award for its best practices in restricted/emerging markets.

Treasury innovation is a point of pride at Microsoft. The centralized treasury group serves more than 450 subsidiaries in 118 countries around the world, managing over 1,300 bank accounts distributed among 85 different banks. Not surprisingly, cash visibility is a perpetual challenge. In the past decade, Microsoft treasury has pushed to achieve greater visibility into bank accounts and subsidiaries’ investments.

“We have a very good idea of what and where our balances are,” explains senior treasury manager Dave Piechowski, “but unlike a lot of large treasuries, we don’t maintain a single companywide treasury management system. We’ve built our own Cash Forecasting & Analytics Reporting [CFAR] solution. And one of the things we’ve been working on, companywide, is maximizing the amount of information that feeds directly from our banks into our ERP [enterprise resource planning] and CFAR systems.”

To that end, Microsoft obtained its own SWIFT Bank Identifier Code (BIC). This enabled many banks to automatically feed statements into CFAR. “We pushed our banking partners to provide daily statements in MT940, if not XML, format so that our system could pull in rich account data,” Piechowski says. The goal was to be able to analyze trends in cash flow and collections. “You can get a lot more granular when you have the full swath of data,” he adds.

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

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • 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.

Already have an account?

Meg Waters

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.

More from this author

Dig Deeper

 

Recommended Stories

U.S.-China Audit Agreement Draws Criticism

U.S.-China Audit Agreement Draws Criticism

Jessica Seah |

Although the deal has potential to ease trade tensions, a failure to effectively implement it might actually lead to further damage to the U.S.-China relationship.

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2022 ALM Global, LLC. All Rights Reserved.