The list was long as Abraham Geldenhuys ran through the impactful changes resulting from his group’s recent treasury makeover. Better cash tracking was one – or as Abraham Geldenhuys expresses it: “hitting the desk in the morning with a full overview of all your cash”. This came to prove vital very soon, as the covid-19 crisis hit this spring.
In another change to reduce headache, transfer pricing of financial transactions has been standardised – using a cloud-based transfer pricing solution from one of the big suppliers of such.
Netting cash and currency positions helped reduce payments and foreign exchange transactions. Higher quality of the cashflow forecasts from the business units was forced in a tough way: deviations could be punished by treasury withholding the release of non-planned payments.