Award winning Treasury Solution: Helloworld
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Helloworld , formerly Jetset Travelword Group has evolved through the merger of two
established travel companies operating multiple businesses and brands globally. Helloworld, the new combined entity had outgrown its current treasury and cash management operations. Heavy reliance on highly manual, legacy processes and spreadsheets of previous years was no longer good enough to support the expanding business. |
The business challenge
Helloworld, formerly Jetset Travelword Group has evolved through the merger of two established travel companies operating multiple businesses and brands globally.
Helloworld, the new combined entity had outgrown its current treasury and cash management operations. Heavy reliance on highly manual, legacy processes and spreadsheets of previous years was no longer good enough to support the expanding business. Helloworld required a solution which would become the single source of truth for all treasury and cash information to allow fast, efficient and accurate hedging and cash management decisions.
They needed a solution to facilitate the hedging of FX exposures originating from its global operations in line with its mandated treasury policy including limits and comply with IAS39 hedge accounting standards. Having multiple bank relationships with over one hundred bank accounts around the world, it was crucial to have global visibility of the group daily cash position for e ffective cash and liquidity management. The ability to integrate with Helloworld’s banks and automate bank statement uploads was a mandatory requirement of the solution. To eliminate the various spreadsheet models used for forecasting, the desired solution was required to enable consolidation of treasury and operational cash ow forecasts for simple and exible dashboard reporting
Helloworld, the new combined entity had outgrown its current treasury and cash management operations. Heavy reliance on highly manual, legacy processes and spreadsheets of previous years was no longer good enough to support the expanding business. Helloworld required a solution which would become the single source of truth for all treasury and cash information to allow fast, efficient and accurate hedging and cash management decisions.
They needed a solution to facilitate the hedging of FX exposures originating from its global operations in line with its mandated treasury policy including limits and comply with IAS39 hedge accounting standards. Having multiple bank relationships with over one hundred bank accounts around the world, it was crucial to have global visibility of the group daily cash position for e ffective cash and liquidity management. The ability to integrate with Helloworld’s banks and automate bank statement uploads was a mandatory requirement of the solution. To eliminate the various spreadsheet models used for forecasting, the desired solution was required to enable consolidation of treasury and operational cash ow forecasts for simple and exible dashboard reporting
The solution
Helloworld selected Finpacific software for its robustness, operational stability, reporting flexibility and Straight Through
Processing capabilities. The excellent support reputation of Finpacifi c was also a signifi cant factor in the decision.
Processing capabilities. The excellent support reputation of Finpacifi c was also a signifi cant factor in the decision.
The results
Helloworld has eliminated its reliance on numerous spreadsheets and multiple manual processes, and now benefi ts from a reliable single source of truth for treasury information providing greater control and transparency.
Reporting and management of FX exposures have been simplifi ed allowing users in various parts of the business to request hedges and trades more effectively. Hedge accounting and risk management is fully managed in the Finpacifi c solution with a high level of automation. Helloworld now has a 360 degree view of the group global cash position through bank integration and gained greater control of future liquidity requirements from access to accurate and consolidated treasury and operational cash ow forecasts.
Reporting and management of FX exposures have been simplifi ed allowing users in various parts of the business to request hedges and trades more effectively. Hedge accounting and risk management is fully managed in the Finpacifi c solution with a high level of automation. Helloworld now has a 360 degree view of the group global cash position through bank integration and gained greater control of future liquidity requirements from access to accurate and consolidated treasury and operational cash ow forecasts.
Conclusion
By implementing the Finpacific solution Helloworld has reduced operational risk, increased control and transparency and freed up resources to focus on more strategic and productive operations.
As an organisation operating in the ever changing travel industry, Helloworld now has a robust, reliable and scalable solution which meets its current and future treasury needs.
As an organisation operating in the ever changing travel industry, Helloworld now has a robust, reliable and scalable solution which meets its current and future treasury needs.