How AECI streamlined their treasury operations

Posted on by Maria_J

EXECUTIVE SUMMARY: 

Effective treasury management plays a crucial role in optimising financial operations. AECI, a South African chemicals group, faced several challenges with their existing treasury management system (TMS), including a lack of local support and dissatisfaction with their current solution. 

TreasuryONE successfully addressed AECI’s challenges by implementing the IT2 Treasury Management System and providing comprehensive support services.

CLIENT PROFILE:

    • Company: AECI
    • Headquarters: Gauteng, South Africa
    • Founded: 1924
    • Industry: Manufacturer of energy storage products and automotive components
    • Company Size: Listed on the JSE Securities Exchange
    • TreasuryONE services selected: IT2 Treasury Management System

CHALLENGES:

  • Dissatisfaction with the current TMS: AECI’s existing treasury management system failed to meet their evolving requirements and fell short in terms of functionality and user experience.
  • Lack of local support: AECI encountered difficulties due to the absence of a dedicated local support team for their TMS. This resulted in delayed issue resolution, hampering their treasury operations.

SOLUTION:

  • After careful evaluation of available options, AECI made the decision to partner with TreasuryONE and selected the IT2 Treasury Management System as their preferred solution.
  • TreasuryONE’s comprehensive offering addressed AECI’s pain points and provided a solid foundation for efficient treasury operations.

KEY FEATURES & BENEFITS:

  • Robust TMS Implementation and Support: TreasuryONE successfully implemented the IT2 TMS, relieving AECI of the burden of managing the system internally. This allowed AECI’s IT resources and treasury staff to focus on their core responsibilities while benefiting from a fully supported and optimised TMS.
  • Local Support Desk: TreasuryONE established a dedicated local support desk, ensuring prompt and efficient query resolution. AECI benefited from responsive support against a tight Service Level Agreement (SLA), minimising downtime and enhancing operational efficiency.
  • Seamless Bank Connectivity: TreasuryONE took charge of managing and maintaining AECI’s bank connectivity, streamlining financial transactions and reducing administrative overhead. This allowed AECI’s treasury team to concentrate on strategic initiatives instead of dealing with connectivity issues.
  • Access to Expert Operational Staff: AECI enjoyed the advantage of direct access to TreasuryONE’s operational staff. This valuable resource proved especially beneficial when AECI’s Treasury Accountant went on maternity leave, ensuring uninterrupted treasury operations during their absence.
  • Holistic Market Advice and Risk Management: TreasuryONE provided AECI with access to a dedicated risk management team, offering valuable market insights and strategic advice. This partnership enabled AECI to make informed decisions, mitigate risks, and optimise their treasury operations.

RESULTS:

The collaboration between AECI and TreasuryONE resulted in significant improvements in AECI’s treasury operations, overcoming the challenges they previously faced. By implementing the IT2 Treasury Management System and leveraging TreasuryONE’s expertise, AECI achieved the following outcomes:

  • Enhanced Operational Efficiency: AECI’s treasury staff and internal IT resources were freed from system management and support responsibilities, allowing them to focus on core business activities.
  • Seamless Query Resolution: The establishment of a local support desk ensured quick and efficient query resolution, minimising operational disruptions.
  • Streamlined Bank Connectivity: TreasuryONE’s expert management of bank connectivity simplified financial transactions and reduced administrative burdens.
  • Continuity and Expertise: The availability of TreasuryONE’s operational staff ensured uninterrupted treasury operations, even during staff absences or leaves.
  • Informed Decision-making: Access to TreasuryONE’s risk management team empowered AECI with comprehensive market advice, enabling them to make better-informed decisions and mitigate financial risks.