Microsoft wins the 2021 Silver Alexander Hamilton Award in Treasury Transformation!

Microsoft’s banking structure is extremely complex. The company has centralized most treasury functions, but about 2,000 individual users in more than 400 entities around the world require access to the online banking portals of 60 different financial institutions.

“We do business in 191 countries and have a local finance team in 118 of those,” explains Vinni Dang, senior treasury manager for Microsoft. “Some of these teams are responsible for payroll. Some are responsible for local statutory and tax payments. Some process vendor payments or handle reconciliation. The finance team typically needs to log into a banking portal to perform these transactions.”

Managing which users have permissions on each account used to be challenging—but it was also crucially important. “These bank accounts support $18 billion in monthly cash flows,” Dang says. “There is large financial exposure, so it is important to prevent anyone from gaining unauthorized access. Each local team had a security administrator who managed which users had access, but they all had their own governance models for online banking access.”

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.

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