Integrated Treasury Solution in the cloud
DACT, 8th November 2013
Arnold Voet
Director Treasury
Van Gansewinkel
Robert Jan Wekking
Managing Partner
Enigma Consulting
Contents
 About Enigma Consulting
 About Van Gansewinkel
 Vision & Objectives
 Solution & Lessons learned
 Benefits achieved & Next Steps
About Enigma Consulting
 Consultancy firm, 100% independent, Founded in 1997
 Specialized in Payments, Treasury and Risk
 60 highly qualified professionals
 Combines Advisory and Implementation, with focus on
end-to-end financial processes
 Matchmaker between solution providers and clients
 Authorized BELLIN tm5 Partner in the Netherlands
About Van Gansewinkel
Key facts & figures
About Van Gansewinkel
1,865
VEHICLES
8.2 5,350
CUSTOMER
SATISFACTION
RATING 2012
EMPLOYEES
(EXCL. TEMPS)
3.14
MILLION TONS OF
CO2 PREVENTED IN
THE CHAIN
MARKET
LEADER
IN THE
BENELUX
€146 €1,0
BILLION
MILLION
EBITDAE
REVENUE
MORE THAN
120,000
B2B CUSTOMERS
CLOSE TO
2 MILLION
HOUSEHOLDS
VGG Treasury 2013 Highlights
 €1,5 bln refinancing of the Group at 6x EBITDA leverage
 Sale of AVR incineration business to CKI (>€900 mln)
 €50 mln Off Balance KBC receivables factoring program
 Reduction Cash Management banks from 4 to 2
 Implementation of a Group wide Credit Insurance
 Implementation of BELLIN tm5
 SEPA & Swift Payment Hub (in progress)
Vision & Objectives
9
How it all comes together
Credit Insurance
Defines Collection Bank
Factoring
Drives implementation platform / pooling
Cash Management
Prerequisite for Factoirng
SEPA
Reduces Implementation load
Provides liquidity
Liquidity
TMS
VGG Objectives
Integrated Solution
Treasury Management
Payment HUB
Control
Availability of Cash
 Moving away from spreadsheets
 All accounts of the Group to be included in the
 Immediate access to Treasury related data of
65 entities in 40 ERP applications
 Reduce FTE by straight through processing
 Reduce errors & risks
central ZB pool
Visibility on Cash
 Improved Cash Forecasting based on accurate
Data
Deal Capturing
Independent Bank connectivity
 Term Loans, IRS, Commodities
 Reducing lock in cost
 Guarantees, Lease contracts
Reduce Cash Management Cost
Mark to Market valuation
 Payments / Receipts on behalf
 Interest rate swaps
SEPA file conversion
 Hedge accounting support
Solution & Lessons learned
Treasury and Payment Hub in the Cloud
 Treasury Management System – BELLIN tm5
 Bank Connectivity – direct SWIFT connection via BELLIN tm5
 SEPA file conversion & mandate management - Sentenial
Objective
Treasury Management
Payment Hub
SEPA Conversion
Integrated Solution
Investment Cost
Implementation Timeliness
Result
Solution Footprint
Lessons Learned
 Cloud application is Plug and Play

BELLIN tm5 live in 2 to 3 weeks (core Treasury)
7.1%


SWIFT connection live in ± 2 months (apart from SWIFT registration process)
Banks
support is critical to meet deadlines
10.3%
No additional soft- and hardware, limited impact on IT resources
17.7%
64.9%
 Enigma knowledge to redesign the original operating model
 Getting it approved internally turned out an important hurdle
 Project management needed to manage 2 software suppliers, 2 banks and
SWIFT
 Impact SEPA format conversion bigger than anticipated
Benefits achieved & Next Steps
Benefits achieved as per 1 November
Benefit
Status
Explanation
Control
Single source of information in single
platform.
Availability of Cash
Few subsidiaries still to be added to
central cash pool
Visibility of Cash
All MT940 Statements available in
BELLIN tm5
Bank Independent
Connectivity
ING and KBC live via SWIFT, but not
completely bank independent yet
SEPA Migration
Awaiting final amendments
What’s next
 ERP Rationalization



the new (cloud) infrastructure supports a step-by-step approach to
independently migrate to new ERP infrastructure
SEPA from conversion service to integration in ERP systems
Eliminate paper flow and implement eMandates
 Payment Processing Optimization


“On Behalf” Payments and Receipts
Simplify to single account per country for VGG